The newly formed International Advisory Council recently held its first meeting at the Dubai Executive Council’s headquarters where member companies discussed efforts to boost economic competitiveness and stimulate business activity in Dubai.

The council, established by Dubai Chamber of Commerce and Industry, announced its plans to review existing regulation, address challenges faced by the business community in Dubai, and bring forward new policy recommendations to enhance the emirate’s attractiveness as a global business hub.

Offering valuable insights on market conditions, the advisory council is joined by several Fortune 500 and leading companies operating in Dubai such as Amazon, Google, and PepsiCo, MasterCard, MetLife, General Electric, General Motors, UPS, Mondelēz International, Procter & Gamble, Careem and McKinsey & Co.

The advisory council is among the key stimulus initiatives launched by Dubai Chamber under the directives of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

During the meeting, council members examined the growing role played by startups and e-commerce in contributing to the economy and stressed the important of adopting measures that support the growth of companies operating within these sectors.

The attendees highlighted the need to form specialised working groups comprised of key stakeholders from the public and private sectors who can share their feedback on business-related matters, in addition to their suggestions for improving existing policies.

Addressing council members, H.E. Hamad Buamim, President & CEO of Dubai Chamber, described the advisory council as a microcosm of Dubai’s diverse business community and said member companies would act as ambassadors promoting the city as preferred place to do business.

By establishing the council, Dubai Chamber has created an ideal platform to facilitate public-private partnerships that can stimulate business activity and boost investor confidence in Dubai, H.E. Buamim said, adding that multinational companies play a crucial role in cementing the emirate’s reputation as a global business hub, fostering a culture of innovation and driving economic growth.