Dubai International Chamber’s ambitious ‘New Horizons’ initiative gains momentum in African markets
In an exclusive interview with NorvanReports, H.E. Mohammad Ali Rashid Lootah, President and CEO of Dubai Chambers, revealed key insights into the innovative ‘New Horizons’ initiative aimed at expanding the footprint of Dubai-based companies in international markets.
Strategically launched under the Dubai International Chamber, the New Horizons initiative marks a paradigm shift for Dubai Chambers, reflecting a comprehensive restructuring undertaken two years ago. The three-chamber approach includes the Dubai Chamber of Commerce, addressing domestic affairs; the Dubai International Chamber, facilitating global expansion and attracting foreign direct investment; and the Dubai Chamber of Digital Economy, dedicated to fostering growth in the digital sector.
H.E. Mohammad Ali Rashid Lootah highlighted that New Horizons is designed to “open up new horizons for Dubai-based companies,” urging them not only to explore international markets for exports but also to consider investments through joint ventures or establishing operational branches globally.
This year, the initiative set its sights on Central Asian countries and expanded into East Africa, with roadshows in Rwanda and Kenya in November. The current focus is West Africa, demonstrating a deliberate effort to diversify and strengthen ties across the continent.
Asked about the alignment of the New Horizons initiative with the Dubai D33 agenda, a vision set by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, H.E. Mohammad Ali Rashid Lootah emphasized its direct correlation. He explained that increasing Dubai’s trade beyond $500 billion by 2026 is a central goal, coupled with a commitment to assisting companies in their expansion endeavors.
Highlighting Dubai’s robust infrastructure and positioning it as a global business hub, President and CEO of Dubai Chambers introduced the “Dubai Global” initiative, establishing a network of trade promotion offices. The recent addition of an office in Ghana, and the upcoming opening in Lagos, marks a substantial investment in Africa. By the end of the year, Dubai Chambers aims to have seven offices in Africa, covering the North, East, South, and West regions.
H.E. Mohammad Ali Rashid Lootah remarks underscore a strategic emphasis on Africa, aligning seamlessly with the D33 agenda, which specifically identifies Africa as a key market for concentrated efforts. As Dubai International Chamber expands its presence across the continent, the New Horizons initiative emerges as a pivotal driver for Dubai’s economic growth and global connectivity.
