Dubai Chambers and VFS Global Sign MoU to Accelerate Trade and Investment Opportunities

Looking to reduce friction for Dubai-based firms looking to globally expand into different markets, Dubai Chambers, the non-profit public entity that supports Dubai’s vision as a global player, has signed a memorandum of understanding (MoU) with VFS Global, the visa outsourcing and technology service specialist for governments and their diplomatic missions.

Under the terms of the agreement, VFS Global will provide strategic services to accelerate trade and investment development for Dubai-based companies across the company’s global network. This will speed up Dubai-based companies’ ability to capitalise on commercial opportunities.

Furthermore, they will benefit from the support of VFS Global’s international network of offices and resources, which offer a range of services and solutions including the evaluation of potential partners in international markets through due diligence services.

Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, commented: “We are dedicated to driving economic growth by attracting companies and investors from across the globe to the emirate and supporting the international expansion of local businesses.

“Our cooperation with VFS Global will enhance the competitiveness of Dubai’s private sector by facilitating smoother entry into global markets. We remain committed to supporting the business community as we continue to consolidate Dubai’s position as an unrivalled global gateway for opportunities and growth.”

Zubin Karkaria, founder and CEO of VFS Global said: “We are pleased to partner with Dubai Chambers to launch our ‘TradeBridge Global’ trade and investment services for Dubai-based organisations. This initiative highlights our long-standing commitment to supporting the development of Dubai as a pre-eminent global business hub.

“Our association with the UAE began in 2002 when we launched Dubai Visa services with Emirates Airline. In 2013, we moved our global headquarters to Dubai. Last year,we appointed our first head of empowerment and inclusion for UAE to further the government’s vision to attract, develop and retain local talent. This new partnership with Dubai Chambers is just another step in our support of our commitment to Dubai and the UAE.”

The Global Partnership Programme

The agreement comes as part of the Global Partnership Programme, a new initiative launched by Dubai International Chamber, one of the three chambers operating under Dubai Chambers. It aims to accelerate the chamber’s attraction and expansion efforts by collaborating with service providers across eight trade categories. The programme will offer services designed to expedite processes, simplify operations, reduce costs, and minimise risks for Dubai-based companies.

The Global Partnership Programme complements Dubai Global Initiative which aims to attract foreign direct investment and support Dubai-based companies in their expansion plans across 30 priority markets.

The agreement with VFS Global will support the Global Partnership Programme across the chamber’s 31 international representative offices around the world. This growing network will play a key role in achieving the ambitions outlined in the Dubai Economic Agenda (D33), which seeks to double the size of the emirate’s economy over the coming decade and consolidate Dubai’s position among the top three global cities.

Source: thefintechtimes

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