Vice President and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum approved the restructuring of the emirate’s chamber of commerce into three separate entities with unique functions.
The Dubai Chamber of Commerce will operate separately as the Dubai Chamber of Commerce, Dubai Chamber of Digital Economy, and Dubai International Chamber.
We approved the new structure of the 3 Dubai chambers: Dubai Chamber of Commerce, Dubai Chamber of Digital Economy, and Dubai International Chamber. A new model to lead Dubai’s economic transformation and position the city as a global business hub.
— HH Sheikh Mohammed (@HHShkMohd) June 26, 2021
Sheikh Mohammed also approved a board of directors to oversee the Dubai Chambers, which will oversee and co-ordinate the work of the three entities under a common vision.
The board will “propose mega initiatives to spearhead Dubai’s economy, ultimately creating a robust business environment”, Sheikh Mohammed said on Twitter.
We approved the board of directors of the overarching Dubai Chambers, which will oversee and coordinate the efforts of the 3 chambers under a common vision and propose mega initiatives to spearhead Dubai’s economy, ultimately creating a robust business environment.
— HH Sheikh Mohammed (@HHShkMohd) June 26, 2021
The new chambers will be responsible for boosting international trade, advancing the digital economy, protecting the interests of entrepreneurs and business owners and supporting Dubai’s ambition to establish “the world’s best economic ecosystem”, he added.
The three new chambers have historic responsibilities of boosting our international trade, advancing our digital economy, protecting the interests of entrepreneurs and business owners and supporting the Government of Dubai in establishing the world’s best economic ecosystem.
— HH Sheikh Mohammed (@HHShkMohd) June 26, 2021
Plans to split Dubai Chamber’s functions were first announced by Sheikh Mohammed in March as part of a broader plan to adopt a more “flexible and efficient” government structure.
As part of this, the emirate plans to adopt a new Dubai International Trade Map. Dubai already has shipping and air links with more than 400 cities around the world, but 200 new cities will be added to consolidate the emirate’s role in global trade.
Changes will also be made to government employment arrangements, with three-year work contracts introduced for all officials and directors of Dubai departments, agencies and institutions. Accountability will be increased and an output evaluation and rewards system introduced, Sheikh Mohammed said at the time.
A five-year plan was also approve to raise the value of the emirate’s foreign trade exchange to Dh2 trillion, from Dh1.4tn.
