A large number of Pakistani companies, 3,395, have been registered in Dubai during the first half (H1) of 2023, marking a rise of around 59 percent from H1 2022.
According to the Dubai Chamber of Commerce, Dubai is now home to 40,315 Pakistani companies. Pakistani investors came in third place regarding the number of new companies registered in Dubai in H1 2023, while Indian nationals topped the list.
It is worth noting here that approximately 229,000 Pakistanis have migrated to the UAE since April 2022, according to Bureau of Emigration and Overseas Employment data. This is mainly because of the rising cost of living and the unstable political and economic landscape of the country.
As far as Indian-owned companies are concerned, 6,717 of them registered with the Dubai Chamber of Commerce during this period, up from 4,845 in H1 2022, marking a 39 percent increase. Interestingly, Indian companies constituted 22.3 percent of Dubai’s newly registered 30,146 companies.
UAE’s domestic companies came second on the list, following India, with 4,445 registered with the Dubai Chamber of Commerce in H1 2023.
Speaking about this development, President and CEO of the Chamber, Mohammad Ali Rashed Lootah, noted that companies from different countries demonstrate Dubai’s lively business culture.
He further noted that the number of new members signed up with the Chamber has risen by 43 percent in H1 2023, adding that this increase aligns with the Dubai Economic Agenda and other goals of the UAE.
Besides, 2,154 Egyptian companies joined the Dubai Chamber of Commerce, up by 102 percent during the same period.
Other companies that joined the Chamber were from Syria, Bangladesh, the United Kingdom (UK), China, Jordan, Lebanon, Japan, Kyrgyzstan, Tanzania, and Hungary.
Businessman from Pakistan is moving towards Bangladesh Vietnam & Dubai…..and government is chanting SLOGANS FDI Foreign Direct Investments