Dubai will open 50 special offices across the globe to boost business hub status

Dubai announced it is launching a new initiative called ‘Dubai Global’, which will see 50 “integrated commercial representative offices” pop up across the world in 30 countries, with the aim of boosting the emirate’s status as a top business hub and helping its companies expand their operations.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, said in a statement: “Our goal is to globalise our national companies, attract global investments, and add new markets to our global business lines.”

The move will open up “30 new markets, attract thousands of investors, and build the world’s best economic environment,” he said, adding: “We will double our economy over the next few years, and establish the best business environment in the world.”

The Dubai Global initiative is based on launching a network of 50 commercial representative offices for Dubai around the world. The network will operate as part of Dubai Chambers in partnership with several government entities.

The offices will provide specialised services, such as market research and the legislative and procedural aspects to help companies take correct decisions.

They will also help “globalise” Dubai companies and promote their expansion in new markets.

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The offices will also work through various channels and global partners to enhance the competitiveness of Dubai’s foreign trade.

The programme aims to create cross-border business opportunities by organising business-to-business meetings, corporate and government meetings, and global and regional events such as international business forums.

The move comes at a time when Dubai’s GDP rose 5.9% to AED 102 billion ($27.8 billion) in Q1 2022.

“The growth demonstrates the emirate’s strong economic fundamentals and ability to maintain sustainable growth,” Sheikh Hamdan had tweeted at the time

“We are poised to enter a new phase of our economic development, which will focus mainly on the knowledge-based economy.”

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The ‘Dubai Global’ initiative is part of a larger mandate to improve the city’s economy, and attract investors and expats.

Last month, the UAE announced it will introduce a new mandatory unemployment insurance scheme effective January 2023, as part of a larger mandate to attract talent and investment.

Earlier this year, it introduced new categories of visas with simplified requirements, and relaxed rules of its famous ‘golden visa’.

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It has also overhauled its labour laws: the most significant changes include employees no longer having to exit the country upon losing their job, as well as more generous maternity leave.