MANILA, 29th May, 2025 (WAM) -- A total of 216 new Filipino companies joined the Dubai Chamber of Commerce during the first quarter of this year, adding to over 800 new Filipino firms that registered with the chamber in 2024.

Salem Al Shamsi, Vice President - International Relations, Dubai Chambers, said the number of new Filipino companies joining the chamber in 2024 has risen by 18 percent compared to 2023, indicating sustained momentum in economic relations between the two sides.

In statements to the Emirates News Agency (WAM) on the sidelines of a trade mission organised by Dubai Chamber of Commerce to the Philippine capital, Manila, from 25th to 27th May, Al Shamsi stated that the strong growth in registered Filipino companies reflects growing confidence in Dubai's business environment and reinforces the emirate's position as a global investment hub.

In terms of investment volume, Al Shamsi said that direct investments from Dubai to the Philippines reached approximately US$193 million between 2021 and 2024, while Filipino investments in Dubai amounted to around US$35 million from 2020 to 2024.

He noted that these figures clearly highlight the attractiveness of the Philippine market to Dubai-based investors, while also demonstrating Dubai's ability to attract Filipino companies seeking international expansion.

Al Shamsi explained that the Dubai Chamber's trade mission forms part of the "New Horizons" initiative for overseas expansion, aligning with the chamber's ongoing efforts to open new markets for Dubai companies and strengthen the emirate's economic footprint in Southeast Asia.

Dubai Chambers is participating in the trade mission alongside 17 Emirati companies operating in diverse sectors, including food, agriculture, technology, industrial security, and manufacturing, with the aim of fostering economic ties and exploring trade and investment opportunities in the Philippine market.

Al Shamsi stressed the effectiveness of the B2B meetings held between Emirati and Filipino companies, which help maximise partnership prospects, save time and resources for entrepreneurs, and ensure the missions deliver tangible economic outcomes.

He added that the Philippine market is one of the most strategic for Emirati businesses, owing to its advantageous geographical location, diversified economy, large and youthful population, and increasing openness to foreign direct investment, particularly in sectors such as agriculture, logistics, light industry and information technology.

He also highlighted the Philippines as a vital gateway to Southeast Asian markets, noting the considerable opportunities available for Emirati companies to capitalise on the growing demand for high-quality products and services from Dubai. Al Shamsi reaffirmed Dubai Chambers' commitment to supporting the local business community in expanding into key global markets.

"We at Dubai Chambers are focused on building sustainable economic bridges with global markets. Trade missions like this one help open effective channels of cooperation and turn opportunities into real partnerships," Al Shamsi said.