Dubai International Chamber’s strategic move aims to strengthen ties with West Africa, fostering global trade and inviting African businesses to thrive in the UAE’s financial powerhouse.
In line with its ambitious Dubai Economic Agenda 2033, the chamber focuses on enhancing trade relations between Dubai and Africa. The agenda offers enticing incentives like long-term residency, 100% foreign ownership, and a low-tax environment, making Dubai a beacon for global expansion.
Dubai’s allure for African companies is further heightened by its strategic free zones, tax benefits, and top-notch infrastructure. The recent opening of a representative trade office in Nigeria emphasizes Dubai’s commitment to facilitating partnerships and encouraging multinational companies to establish their presence in the region.
Already, success stories emerge as Nigeria’s Tropical General Investments (TGI) Group inaugurates a cutting-edge dairy production facility in Dubai Industrial City, marking a significant investment in consumer goods. The $20 million dairy factory, established under the UAE’s ‘Foreign Investment Liberalisation Scheme,’ reflects Dubai’s appeal with its safety, tax incentives, and logistical advantages.
Sankha Biswas, CEO of Nutridor Limited, the subsidiary behind the dairy venture, praises Dubai’s business-friendly environment, geopolitical stability, and government-investor relationship. The choice of Dubai as a destination goes beyond its unique geographic location; it serves as a gateway to strategically serve African markets, including Ghana, Ivory Coast, and soon, Nigeria.
The pace of Dubai’s growth is remarkable, transforming from a fishing village to a global financial center, logistics hub, and tourist destination. Data from Dubai Chambers highlights the significant growth in non-oil trade between Nigeria and Dubai, demonstrating the effectiveness of Dubai’s economic initiatives.
Helal Saeed Al-Marri, Director General of Dubai’s Department of Economy and Tourism, affirms that Dubai’s 10-year economic plan, D33, positions the city among the top three globally. With a focus on logistics, green energy, and attracting top talent, Dubai aims to continue its double-sized GDP growth.
As Dubai and Nigeria work towards the resumption of flight operations, facilitated by discussions between Minister Festus Keyamo and Emirates Airlines, the prospect of increased trade between the two nations looms large. Dubai’s strategic initiatives and Nigeria’s growing interest in the region set the stage for a dynamic economic partnership in the coming years.
