Dubai Chambers president and chief executive officer Mohammad Ali Rashed Lootah said that his organisation would work to strengthen cooperation between the business communities in Dubai and Bangladesh to foster partnerships.
He also said that the number of Bangladeshi companies registered as active members of the Dubai Chamber of Commerce reached 8,686 by the end of 2024, reflecting Dubai鈥檚 growing attractiveness among Bangladeshi investors.
He was speaking at the ceremony of signing a memorandum of understanding with the Dhaka Chamber of Commerce and Industry at the Dubai-Bangladesh business briefing event held at the Dubai Chambers auditorium in the UAE on Wednesday.
DCCI president Taskeen Ahmed and Mohammad Lootah signed the MoU on behalf of their organisations.
According to a statement of the DCCI, under the MoU, both organisations will prioritise enhancing mutual cooperation between their businesspeople by organising B2B matchmaking, encouraging joint venture investment, organising trade meetings, fairs, exhibitions and exchanging trade delegations.
Lootah intended to extend his comprehensive support to Bangladeshi businesses and investors to help them grow their operations in Dubai.
He also requested Bangladeshi companies to establish local offices in the UAE, which would play an important role in helping Bangladeshi exporters capture the Middle Eastern and African markets.
He later urged Bangladeshi IT companies to invest in the UAE. He opined that establishing an effective data center in Bangladesh is crucial for developing the information technology sector.
Taskeen Ahmed said that Bangladeshi nationals constitute one of the largest expatriate communities in the UAE. They account for 17 per cent of Bangladesh鈥檚 total overseas employment, making the UAE the second-largest destination after Saudi Arabia.
He also said that Bangladesh鈥檚 competitive investment framework, fiscal and non-fiscal incentives, favourable regulatory environment for foreign investors, 100 per cent foreign ownership, and bonded warehouse facilities have made it an attractive destination for UAE investment.
Moreover, he added, UAE entrepreneurs have an opportunity to invest in the logistics service sector in the proposed economic zones, especially to improve the overall infrastructure of business and investment in Bangladesh.
Leaders from both chambers, business people, and other stakeholders attended the event.
