Dubai: The United Arab Emirates (UAE), specifically Dubai, is positioning itself as a hub for financial technology (fintech) and Islamic finance, and is extending an invitation to Malaysian companies to explore these burgeoning sectors.
According to BERNAMA News Agency, Salem Al Shamsi, the executive vice-president of international relations at the Dubai Chamber of Commerce, emphasized the potential for collaboration in these areas while maintaining active engagement in traditional sectors like construction and fast-moving consumer goods trading. He noted the increasing regional interest in Dubai’s offerings, particularly its logistics capabilities and connectivity to markets such as Africa and the subcontinent.
Al Shamsi articulated these insights following the signing of a memorandum of understanding (MoU) between the Dubai Chamber of Commerce and the National Chamber of Commerce and Industry of Malaysia (NCCIM). This agreement, signed by Al Shamsi and NCCIM president Datuk Seri N. Gobalakrishnan, is designed to bolster bilateral trade relations and strengthen the ties between business communities in Dubai and Malaysia.
Non-oil trade between Malaysia and Dubai reached USD 4.9 billion in 2024, reflecting a robust annual growth of 20 percent. As of September 30, 318 Malaysian companies were registered as active members of the Dubai Chamber of Commerce, with 73 new Malaysian companies joining in the first nine months of 2025.
The Dubai Chamber of Commerce has identified numerous high-potential products for export from Dubai to Malaysia, including organic and inorganic chemicals, aerospace components, turbo-jets, turbo-propellers, plastics, metals such as copper, iron, and nickel, alongside consumable goods like coffee, tea, and dairy products.
In parallel, Dubai-based firms have substantial opportunities to invest in key Malaysian sectors such as transport and warehousing, real estate, tourism and hospitality, plastics, business services, and healthcare.
Al Shamsi highlighted the UAE’s efforts to diversify its economy, pointing out that Dubai’s reliance on oil is minimal, accounting for less than two percent of its economy. He explained that Dubai has long invested in infrastructure to support diverse business growth, including the International Financial Centre, which stands as a significant financial hub in the region.
The Dubai Chamber of Commerce, a non-profit public entity, is committed to supporting Dubai’s vision as a global player by empowering businesses, providing innovative services, and facilitating access to influential networks.