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Dubai Chamber of Commerce has announced the launch of a new Fintech & Payments Business Group aimed at bringing together companies of all sizes within the fintech and payments sector

Dubai Chamber of Commerce has announced the launch of the Cloud Computing Business Group, connecting companies within the sector

Dubai Chamber of Commerce, one of three chambers operating under Dubai Chambers, has revealed that over 27,100 companies joined as new members in the first eight months of 2022, representing a 69% year-over-year (y-o-y) increase and bringing total membership to over 314,000. Between January and August 2022, member exports and re-exports increased by more than 20% year on year, totaling AED 177 billion.

H.E. Hamad Buamim, President & CEO of Dubai Chambers that the Chamber’s integral role as Expo 2020 Dubai’s Official Business Integration Partner gave a major boost to performance in the first three months of this year, as it organised a record number of events, initiatives and activities and established new bridges of cooperation between businesses communities in Dubai and abroad.

“The UAE is the third largest trading partner for India and synergizes the scope of business opportunities for stakeholders,” he said. “The trade pact will aid in taking forward the two-way trade to $100 billion in five years from the existing $60 billion. This is a joint effort to combine the vision of both nations,” said Deepak Sood, Secretary General, Associated Chambers of Commerce and Industry of India.

The announcement was made at a recent meeting at the Chamber's headquarters, which was attended by H.E. Hamad Buamim, President & CEO of Dubai Chambers, H.E. Mrs. Orna Barbivay, Israeli Minister of Economy and Industry, and H.E. Amir Hayek, Israel's Ambassador to the UAE, as well as representatives from the embassy, ministry, and Dubai Chambers.

“Approving the Chamber’s strategy and budget is part of our efforts to speed up the full implementation of the ambitious vision HH Sheikh Mohammed, has set, which strives to build the future of the digital economy today and cement Dubai’s position as a preferred market for foreign digital investments and top tech talent,” said H.E Omar Sultan Al Olama.

Commenting on achievement, HE Hamad Buamim, President & CEO of Dubai Chambers said: “Dubai Chamber of Commerce is an active partner supporting the vision and directives of the wise leadership, which aim to elevate Dubai’s position as a global smart city, innovation hub and leader in digital transformation that continues to adapt to changing needs of our members and customers.”

The two chambers agreed to expand their cooperation, share knowledge, and best practices on membership-related services through institutional exchange, including exchange and cooperation in other countries where the organizations have a presence, under the terms of agreement. The chambers will collaborate on future initiatives, develop cross-regional collaboration in the healthcare sector, and co-host meetings between companies from both nations.

Summit will witness largest gathering of VCs and start-ups in the region, with 500 VCs and 1000 tech start-ups expected to participate over two-day programme which will include events, seminars, presentations, demos, pitches and meetings.