Over 3,900 Pakistani firms join Dubai Chamber of Commerce in six months: Report

Pakistan has turned itself into the second highest national group to join the Dubai Chamber of Commerce in the first half of this year, with over 3900 Pakistani companies registering according to a statement by the DCoC.

India leads the way with 7860 companies seconded by Pakistan.

The increase in Pakistani companies joining the Dubai Chamber of Commerce indicates the numerous challenges Pak faces now in cultivating a conducive business environment in domestic conditions. There are various factors that are causing this situation. Political instability, inconsistent policymaking, and a focus on non productive sectors have made the country come to a standstill and attract and retain investment despite having a large domestic market of over 240 million people.

Pak’s over reliance on IMF bailouts and its vulnerability to economic instability further points out the difficulties in maintaining a stable investment climate compared to regional peers.

While UAE’s status as a global business hub continues to attract foreign investors and FDI, the rising number of Pak firms joining the Dubai CoC highlights the strategic advantage offered by the global business hub. These advantages include a favourable business environment, connectivity, and access to both regional and international markets.

For Pak companies membership in the Dubai Chamber of Commerce not only facilitates easier access to the Gulf but also gives a chance to increase networks, investments, and growth in a highly competitive and respectable global arena.

The DCoC is one of the three institutions operating under the Dubai Chambers revealed that Pak ranked second on the list of non Emarati companies joining the chamber in the first half of 2024.

The service sector took the lead in enrolling after gaining 41.5% in new memberships followed by real estate, renting, and business service sector being grouped together at 33.6% while construction saw 9.6% in memberships.