Dubai Chambers and Standard Chartered Bank have signed a strategic Memorandum of Understanding (MoU) aimed at accelerating the global expansion of UAE businesses. This partnership underscores Dubai’s ambitions to solidify its position as a global financial and business hub by offering integrated banking services, trade finance, and market-entry support for businesses.
This collaboration comes on the heels of remarkable growth in Dubai’s entrepreneurial ecosystem. Over 51,000 new companies joined the Dubai Chamber of Commerce in 2024, a testament to the city’s appeal as a prime destination for business setup in Dubai.
Strategic Goals of the Partnership
Under the agreement, Dubai Chambers and Standard Chartered will:
- Enhance Competitiveness: By providing trade finance and banking solutions to UAE businesses eyeing international markets.
- Facilitate Market Entry: Leverage Standard Chartered’s global network to assist Dubai-based companies in setting up international operations and support global firms establishing a presence in Dubai.
- Drive Foreign Investments: Dubai Chambers will actively support Standard Chartered clients worldwide, promoting Dubai as an investment-friendly destination.
This partnership aligns with the Dubai Global initiative, which seeks to attract foreign direct investment (FDI) and provide local businesses with resources to thrive internationally.
Insights from Industry Leaders
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasized the broader vision of the collaboration, stating, “This agreement consolidates Dubai’s pivotal role in the global financial and business landscape. It enables local and international companies to thrive while attracting FDI to the emirate.”
Rola Abu Manneh, CEO of Standard Chartered UAE, highlighted the bank’s role in driving economic diversification. “We aim to empower UAE businesses to explore new markets while contributing to Dubai’s ambitious D33 agenda,” she remarked, referring to the emirate’s strategic plan to double its economic growth by 2033.
The Global Partnerships Programme
The MoU is a cornerstone of Dubai Chambers’ Global Partnerships Programme, an initiative designed to:
- Accelerate business attraction efforts.
- Collaborate with global service providers across eight trade categories.
- Expand Dubai’s influence via 32 international representative offices.
This program builds on Dubai’s strengths as a gateway for global trade and investment while fostering innovation and economic diversification.
For entrepreneurs aiming to leverage Dubai’s resources for global expansion, partnering with experts can make the process seamless. WeDubai offers comprehensive services for business setup in Dubai, including assistance with bank account opening and trade license registration.
Author Bio:
Jane Doe is a seasoned business journalist with over 8 years of experience covering global trade, economic policies, and market trends.
