Since Dubai announced its D33 economic agenda in January 2023—a plan to double the city’s GDP by 2033 through enhanced industrial value and export growth—new opportunities for collaboration have been opening up between China and Dubai, building on a deep historical connection that has stood the test of time, from the ancient Silk Road to the modern Belt and Road Initiative (BRI).
Testament to this connection is the Dubai Business Forum. Organized by Dubai Chambers, the event series saw its first international edition take place in Beijing on August 21, attracting Chinese enterprises and investment institutions interested in exploring regional and global expansion opportunities. The event also featured participation from over 40 prominent business leaders and key government representatives from Dubai.
Dubai, located at the crossroads of global talent, capital, and trade, is growing rapidly in appeal among Chinese investors with a global perspective. In his opening remarks, Mohammed Ali Rashed Lootah, president and CEO of the Dubai Chamber of Commerce, said that he is confident that the event will “contribute to further enhancing the levels of trade and investments between Dubai and China, which are continuing to achieve remarkable growth.”
Latest estimates provided by the organizers indicate that around 5,400 active Chinese companies are registered as members of the Dubai Chamber of Commerce at the end of H1 2024. Over 750 Chinese companies are said to have established a presence in Dubai in the first half of this year alone.
During the event, Hadi Badri, CEO of the Dubai Economic Development Corporation (DEDC), highlighted the importance of finding common ground in collaborations. He noted that the people in China and the UAE share many traits—optimism, hard work, and a belief in a better tomorrow—and this shared outlook can foster strong commercial chemistry.
Foreign direct investments from China to Dubai have also grown, cumulating AED 19.85 billion (USD 5.4 billion) between 2015–2023.
To encourage foreign investors to set up operations, the Dubai government has implemented a series of measures to streamline the business establishment process. Dubai boasts over 20 free zones tailored to specific industries, including technology, media, finance, logistics, healthcare, and manufacturing. Companies established in these zones enjoy various benefits, including favorable tax and customs conditions, access to professional infrastructure, and business support services, as well as convenient connections to transport hubs.
Dubai’s favorable business and legal environment has made it one of the preferred gateways for Chinese companies entering the Middle East. But part of its allure also stems from its efforts to provide stable and secure channels for its trade partners as part of building a resilient supply chain.
Abdullah Al Hashmi, COO of DP World (Parks and Zones), discussed how the recent pandemic accelerated Dubai’s logistics technology advancements, enabling remote operation of various automated systems. Moreover, the comprehensive economic partnership agreement (CEPA) between China and the UAE facilitates the assembly of Chinese-manufactured products in the UAE. Positive growth has already been observed in industries such as automotive manufacturing and green energy.
In 2023, non-oil trade between China and Dubai reached USD 67.8 billion, marking an 83.8% increase compared to 2013. Over the past decade, cumulative non-oil bilateral trade between China and Dubai has reached approximately USD 490 billion.
In addition, Dubai announced in July the development of a new logistics hub for food, fruit, and vegetable trade. Dubai is also developing what it says is the world’s largest and most advanced automotive market. Dubbed the Dubai Car Market, this facility, covering 20 million square feet, will offer innovative automotive services and connect to DP World’s extensive port network.
Chinese manufacturing is currently at a critical stage of seeking advancement through innovation, which aligns well with the development of green technology and e-commerce under Dubai’s D33 agenda. The synergy between these two visions could present opportunities to create a new model that brings together different stakeholders to build a win-win supply chain.
In response, numerous Chinese tech companies have already established themselves in Dubai. For instance, Westwell launched the Q-Truck, an all-weather unmanned electric heavy-duty truck, at the Port of Jebel Ali, in response to the BRI. Terminus, a leading artificial intelligence-of-things (AIoT) service provider, has set up its international headquarters in Dubai and partnered with Expo City Dubai to drive local digital and smart transformation.
Both China and Dubai prioritize green technology, and China’s leading capabilities in renewable energy are exactly what Dubai needs. As in other sectors, Dubai is committed to providing fertile ground for the application, development, and iteration of emerging technologies in green tech. Expo City Dubai, in collaboration with Chinese companies like Terminus, showcased how Chinese firms can leverage Dubai’s platform to enhance innovation, promote co-creation, and build high-value enterprises that meet global needs.
Manal Al Bayat, chief engagement officer of Expo City Dubai, likened Dubai’s free zones to testbeds for technological innovation, referring to various non-profit foundations established by the organization to find innovative solutions in areas such as autonomous driving and new energy vehicles.
Ensuring health and well-being is another top priority for Dubai. In a roundtable, Marwan Al Mulla, CEO of health regulation at the Dubai Health Authority, and Liu Wei, co-founder and CEO of BioMap, discussed collaboration opportunities between China and Dubai.
RELATED ARTICLE
The pair highlighted that Dubai has advanced medical infrastructure to support cutting-edge solutions such as robotic surgery, radiosurgery, advanced neurological and spinal treatments, 3D dental technology, and stem cell technology. China’s strengths in data analysis and telemedicine offer extensive opportunities for collaboration in these fields.
Al Mulla also announced that the first batch of Chinese hospitals has begun operations in Dubai this year, with more Chinese-funded clinics expected to open in the future, serving not only Chinese citizens but also the broader community.
Segueing to the ongoing AI boom, Dubai’s potential as a global AI hub is becoming increasingly evident, with strengths in machine learning and data processing offering market opportunities for Chinese companies in related fields. Zhang Rong, president of Westwell, highlighted the company’s expansion into the local market, starting from Khalifa Port. Westwell specializes in using AI to develop autonomous driving solutions.
During the forum, the Dubai Chamber of Commerce announced the signing of memorandums of understanding with the China Council for the Promotion of International Trade (Beijing) and major Chinese commercial banks, including Bank of China, Industrial and Commercial Bank of China (ICBC), and China Construction Bank (CCB). These agreements aim to strengthen ties, deepen business cooperation, and actively explore new ways to promote trade and investment and enhance market exchanges.
The Dubai Business Forum in China is the first in a series of major international forums organized by the Dubai Chamber of Commerce. Looking ahead, this series will continue to be held in major financial and commercial centers worldwide, helping enterprises and investors explore opportunities under Dubai’s D33 economic agenda.
36Kr Global is the official recruitment channel for Dubai Business Forum (China).