$383 million, the volume of Armenian investments in Dubai
Yerevan, October 24 / WAM / The volume of Armenian investments in the Emirate of Dubai reached about 383 million US dollars during the period from 2018 – 2024, according to Salem Al Shamsi, Executive Vice President of International Relations at Dubai Chambers.
Al Shamsi said, in statements to the Emirates News Agency (WAM), that the number of new Armenian companies registered as members of the Dubai Chamber of Commerce during the first half of this year reached 79 companies, bringing the total number of companies that joined the Chamber’s membership to about 500 Armenian companies.
He added, in his statements on the sidelines of the trade mission organized by the Dubai Chamber of Commerce to the Armenian capital, Yerevan, on October 22 and 23, that this strong growth in the number of registered Armenian companies reflects the growing confidence in the business environment in Dubai, and strengthens the emirate’s position as an attractive global center for investment.
He stressed that economic relations are witnessing rapid growth. In 2024, the volume of non-oil trade between Dubai and Armenia rose to $7 billion (25.7 billion dirhams), an increase of 76% over the previous year, and this strong growth reflects the growing levels of trust and cooperation between our markets.
Al Shamsi explained that the Dubai Chamber of Commerce’s organization of this trade mission comes within the “New Horizons for Foreign Expansion” initiative, and within the framework of the Chamber’s ongoing efforts to open new markets for Dubai companies and enhance the emirate’s economic presence in the Southeast Asia region.
He stated that Dubai Chambers is participating in this trade mission, accompanied by 16 Emirati companies operating in various sectors, with the aim of strengthening economic ties and exploring trade and investment opportunities in the Armenian market.
Al Shamsi stressed the importance and effectiveness of bilateral business meetings between Emirati companies and their Armenian counterparts, as they contribute to maximizing partnership and cooperation opportunities and save time and effort for entrepreneurs and companies alike, making these visits practical missions with direct economic returns.
He said that Armenia’s strategic location and competitive business environment provide tremendous potential for investors and entrepreneurs in Dubai. At the same time, Dubai provides Armenian companies with a world-class platform to expand internationally, thanks to its business-friendly ecosystem and access to fast-growing markets in the Middle East, Africa and Asia, making Dubai a global gateway for Armenian companies looking to expand beyond. Its limits.
He pointed out that the Armenian market represents one of the most important strategic markets for Emirati companies, especially with what we are witnessing of Armenia’s increasing openness to foreign direct investments, especially in sectors such as consumer goods, logistics services, hospitality, food and beverages, in addition to information and communications technology and related consulting services.
Al Shamsi stressed the commitment of Dubai Chambers to supporting the aspirations of the local business community to expand into global markets of strategic importance, noting that such trade missions contribute to opening new channels and building sustainable economic bridges with world markets.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
