A report for Dubai Chambers reviews the opportunities and promising sectors of German investors in the emirate

Hamburg on May 22/ WAM/ A recent report issued by Dubai Chamber revealed that the value of non -oil trade between Dubai and Germany has achieved an annual growth rate of 10 during the past five years, which reflects the increasing momentum of economic relations between the two parties.

The report issued on the sidelines of the Dubai Business Forum organized by the Dubai Chambers in Hamburg showed the day before yesterday, Tuesday, the growth of the value of non -oil trade exchange between Dubai and Germany, as it increased from 24.6 billion dirhams in 2020 to 28.6 billion in 2021, to continue to rise to 29.4 billion in 2022, and continued to increase the increase during the year 2023 to reach 36.7 billion dirhams, while it reached last year last year 39.6 billion dirhams.

The report pointed out that the vehicles ranked first in the list of Dubai imports from Germany during the year 2024, where Germany acquired 8.4% of the value of Dubai imports from vehicles last year, and industrial machines came second in the list of imports, and then pharmaceutical products and electronics.

The list of the most prominent imports includes medical equipment, plastic, cosmetics and perfumes, while electronics came first in the list of Dubai exports to Germany during the past year, followed by parts of aircraft, industrial machines, vehicles, precious stones and metals, and the list of exports also includes iron, steel products, medical equipment and watches.

The report indicated that Dubai acquired during the past year 3.7% of the total foreign direct investment projects from Germany in the world, pointing out that the software and information technology services sector acquired the largest percentage of foreign direct investment projects from Germany to Dubai during the period 2015 – 2024 by 36 projects, and the industrial equipment sector came second with 31 projects, followed by the transportation and storage sector third with 30 A project, while the business services sector ranked fourth with 29 projects and then the textile sector ranked fifth with 27 projects.

20 direct foreign investment projects from Germany to Dubai focus during this period in the consumer products sector, in addition to 16 projects in the field of auto parts, along with 15 projects in the food and beverage sector, 9 projects in the field of electronic pieces, and 9 projects in the field of consumer electronics.

The report identified a group of promising sectors in Dubai for German investors, especially the renewable energy sector, green hydrogen, medical care sector, pharmaceutical products, vehicle and logistical services sector in addition to the technology sector.

The report gave a detailed presentation of Dubai’s basic ingredients, which enhance its position as an international business center attractive to German companies, highlighting the modern economic indicators of the emirate and the global forefront achieved in the indicators of foreign direct investment, in addition to the advanced infrastructure and the stimulating business environment, as well as the most prominent strategic projects that it developed in several vital areas, including transportation, ports, clean energy, etc.

The report pointed out that the role of Dubai as a strategic gateway to reach the promising markets in Africa and Asia for German investors and companies is gaining increasing importance in light of the Dubai Economic Agenda targets to double the size of the emirate’s economy by 2033, and to establish its position among the three most important economic cities in the world, which includes doubling Dubai Foreign Trade to 25.6 trillion dirhams, and adding commercial corridors to Dubai With 400 new cities around the world by 2033.

In this context, the report also highlighted the importance of the comprehensive economic partnership agreements concluded by the UAE in providing promising opportunities for export and trade with the countries of the world, as the advantages of these agreements include enhancing access to global markets, reducing or canceling customs duties, facilitating customs procedures, providing clear and transparent rules and enhancing competition based on fair trade.

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