Over 30 companies from 9 different sectors are represented by the MCBG
Dubai – Several dozen multinational companies came together last night to publicly announce the launch of the Multinational Companies Business Group (MCBG). The association, established under the umbrella of Dubai Chamber of Commerce and Industry, will seek to give multinational corporations based in Dubai a shared voice to engage with government on business, investment and trade-related policy. The MCBG’s aim is to foster private-public policy dialogue through the exchange of expertise and global best practices, in order to make the UAE and Dubai a more competitive place to do business.
The MCBG represents a diverse range of business sectors including industry, technology, energy, food and beverages, automotive and allied industries, energy, fast moving consumer goods, healthcare, insurance and retail. Over half of the group’s member companies are Fortune Global 500 companies. Main objectives of the new business group include sharing knowledge, skills and best practices on issues relating to investment, business, industry, and trade policy in the Gulf region.
Commenting on the launch of the new business group, His Excellency Hamad Buamim, President and CEO of Dubai Chamber said: “Our aim is to help our members and companies in Dubai operate in a favorable business environment. The MCBG will support our effort to promote Dubai’s business-friendly environment, and foster a constructive dialogue between multinational companies and the public sector with the aim of enhancing the emirate’s position as an attractive and global business hub.”
During the launch event, H.E. Buamim welcomed the establishment of MCBG and highlighted the important role that business groups play in supporting Dubai’s economic growth and development, adding that Dubai Chamber has facilitated the creation of business groups in the emirate that operate on a country and industry level.
“Now is the right time to launch a cross-industry business group that can engage in a strategic and constructive private-public policy dialogue”, said Ramy Zaki, MCBG Chairman. “The MCBG is a true representation of the global business community that has chosen Dubai as a home for their regional operations. We aim to leverage off our members’ vast cumulative expertise to proactively engage with government on challenges and opportunities that impact the business, investment and trade climate. Our goal is to partner with government and other stakeholders to make Dubai and the UAE the best place to do business in.”
“We believe that the private sector can and must play a greater role in supporting and promoting a highly competitive policy environment. This will benefit consumers, the economy, the government’s agenda, and the business community,” added Zaki.
“A prosperous economy is one where everyone benefits, and by promoting collaboration between business and government we will be in a better position to deliver and sustain long-term growth.
“As the chair of the group, I’m looking forward to leveraging the MCBG as a catalyst for strategic policy dialogue with government. The collective experience of our members exceeds thousands of years of cumulative global know-how and experience. We believe that placing this knowledge at the disposal of our home Dubai, the UAE and the wider region is not only our duty, but also the best thing we can do to grow our business. Our vision is to be partners in shaping the success of Dubai, the UAE and the broader region, through world-class investment, business, industry and trade policies together and make this place an even more attractive place to do business in,” concluded Zaki.