Pakistan registers 3395 companies in Dubai in first half of 2023

The Dubai Chamber of Commerce, one of the three chambers under the Dubai Chambers umbrella, recorded a significant surge in company registrations from foreign investors where Pakistan secured third position with 3,395 new companies during the first half of 2023.

Indian investors led the list of nationalities contributing to the influx of new companies in the chamber, followed by the UAE.

“It is indeed a positive development that underscores the resilience and entrepreneurial potential of the Pakistani business community and diaspora,” Ambassador Faisal Niaz Tirmizi told Arab News.

Pakistan ranks third place in Dubai Chamber of Commerce registered Companies

Pakistan secured the third position, behind India and the UAE, in terms of new company registrations with the Dubai Chamber of Commerce. This marked a remarkable 59% increase compared to the same period last year, bringing the total number of Pakistani companies in the chamber to 40,315, as reported by the Government of Dubai Media Office on Wednesday.

“The diversity of nationalities represented among the new companies joining the chamber reflects the vibrancy of Dubai’s dynamic business environment, together with the emirate’s strong ability to consistently attract a broad range of foreign direct investment”, said Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers.

India tops list of new companies

Indian investors ranked first among the nationalities of new companies joining the chamber. A significant 6,717 new Indian-owned companies became chamber members in H1 2023, marking a 39% year-over-year growth compared to the 4,845 registrations in H1 2022.

“Our extensive facilities, services, and activities add tremendous value for businesses and are closely aligned with the chamber’s drive to achieve the goals of the Dubai Economic Agenda and our strategic priorities,” Lootah said while highlighting that the number of new chamber members increased by 43% during the first half of 2023.

To put it into perspective, Indian companies constituted 22.3% of the 30,146 new companies that joined the chamber in H1 2023. By the end of June 2023, the total number of Indian companies registered had risen to 90,118, underlining their crucial role in supporting the sustainable growth of Dubai’s economy.

Top ten countries setting up companies in UAE

The top ten countries that set up companies in UAE as per the Dubai Chamber of Commerce are given below:

  1. India with 6717 companies
  2. UAE with 4445 companies
  3. Pakistan with 3395 companies
  4. Egypt with 2154 companies
  5. Syria with 1184 companies
  6. Bangladesh with 1044 companies
  7. UK with 963 new companies
  8. China with 664 companies
  9. Jordan with 639 new companies
  10. Lebanon with 588 new companies

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