Dubai, UAE: Businesses in Dubai with global aspirations should take into consideration several key factors before launching into other markets, such as the macro-economic environment, political stability, ease of doing business, labour requirements and transportation infrastructure and logistics capabilities.
That’s the advice from Omar Khan, Director of International Offices at Dubai Chamber of Commerce and Industry, who recently shared his insights in the first instalment of Dubai Chamber’s “Ask the Expert” social media series. The monthly video series, recently launched as part of Dubai Chamber’s Business Connect initiativein partnership with Entrepreneur Middle East, features industry experts from Dubai’s business sector who answer common questions asked by members of the business community.
Commenting on the topic of global expansion, hestressed the importance for companies to do their due diligence by researching markets of interest to better understand the business landscape and determine whether the strengths and solutions they offer address a real market need.
Responding the question of What Dubai Chamber can do to help companieswith global expansion?,Khan noted that the Chamber offers valuable support and resources through its international offices, business and networking events, and market intelligence that can be utilised to explore new growth opportunities.
“Our members have access to 11 international offices strategically located across Africa, Eurasia and Latin America that are extremely active and effective in supporting Dubai-based businesses with their entry into new markets. These teamsare well connected to top business leaders and they know what is happening on the ground and what projects are in the pipeline. To add to that, they are very familiar with the regulatory environment and can offer guidance on business set up processes in the markets where they operate,” Khan explained.
He pointed out that Dubai Chamber’s Economic Research team dedicates its efforts to conducting in-depth research and analysis covering local and international markets and key sectors and areas of interest, adding that the Chamber evaluates synergies between different countries and Dubai.
Khan concluded by encouraging companies to participate in the various business and networking events organised by Dubai Chamber throughout the year, including the organisation’s flagship Global Business Forum (GBF) series, which examines business potential in Latin American, African and ASEAN markets.The high-level GBF series, attended by government and business leaders from around the world, serves as an important platform to foster economic cooperation and cross-border partnerships, he added.
The newly launched “Ask the Expert" seriessupports Dubai Chamber's efforts to shed light on key aspects of doing business in Dubai and provide an opportunity for members of the business community to pose their questions to industry experts, while it also leverages social media channels to engage with the private sector and respond to its changing needs.
The series, consisting of short videos, will delve into other topics of interest to businesses in Dubai over the coming months, including entrepreneurship, CSR and sustainability, investment opportunities, business matching and research.