More than 15,000 new Indian Companies joined Dubai Chamber of Commerce in 2023

Dubai Web Desk

A recent analysis by the Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that Indian investors topped the list of nationalities of new non-UAE businesses joining the chamber last year.

A total of 15,481 new Indian-owned companies became members in 2023, representing year-over-year (YoY) growth of 38% and underlining Dubai’s continuing attractiveness among Indian businesses and investors.

Pakistan ranked second in terms of new company memberships in 2023, with the chamber welcoming 8,036 new Pakistani businesses in 2023 – a remarkable growth rate of 71.2% compared to the previous year.

Egypt ranked third, with 4,837 new members registering, representing YoY growth of 63.2%.

The number of new Syrian-owned companies joining Dubai Chamber of Commerce reached 2,755 in 2023, representing YoY growth of 28.8%. The country ranked fourth among the top investor nationalities for new company registrations.

The United Kingdom ranked fifth with a total of 2,267 new companies, up from 1,503 in 2022 to achieve YoY growth of 50.8%.

The number of new Bangladeshi-owned member companies increased by 42.8% to reach 2,252.

China ranked seventh on the list with 1,560 new companies joining the chamber in 2023, achieving an annual growth rate of 66.5%.