Dubai-based Emirati companies have invested $1.4 billion in China from 2015 to 2023, underscoring the deepening trade and economic ties between the two nations, according to a senior official.
Mohammad Lootah, President and CEO of Dubai Chambers, revealed this figure during his address at the Dubai Business Forum – China held in Beijing. Lootah emphasized the UAE’s dedication to facilitating the entry of Chinese businesses into the Middle East and expanding their reach globally.
Lootah outlined the collaborative efforts between the UAE and China across various sectors, including technology, entrepreneurship, tourism, renewable energy, agriculture, and logistics, as reported by the state news agency WAM. He highlighted the strong trade relationship, with Chinese exports to the UAE reaching $55.68 billion, according to the UN Comtrade Database.
“Our commitment is to support the growth of Chinese companies aiming to establish a presence in Dubai and to expand into regional and international markets. I am confident that the Dubai Business Forum – China will further bolster trade and investment levels between our regions, which are already experiencing remarkable growth,” Lootah stated during his opening speech.
Lootah also disclosed that Chinese foreign direct investments in Dubai have amounted to $5.4 billion over the past eight years, though a detailed yearly breakdown was not provided. By the end of the second quarter of this year, the number of Chinese companies registered with the Dubai Chamber of Commerce had risen to 5,400.
While Chinese companies have historically focused on trade, logistics, and business consulting in Dubai, there is now a marked increase in interest in emerging sectors such as artificial intelligence and green technologies. Lootah anticipates significant growth in these future-oriented sectors in Dubai.
The Dubai Business Forum – China, organized by Dubai Chambers of Commerce, attracted 800 prominent Chinese business leaders and investors. The event also featured bilateral meetings between Dubai’s government entities, private sector representatives, and Chinese investors and business leaders. During the forum, Dubai Chambers signed an agreement with the China Council for the Promotion of International Trade to promote increased investment in Dubai.
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