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Chinese SMEs in Dubai are primed to expand their presence in Dubai as Singapore-based Samanea joined hands with Hala China in a new initiative according to a statement from the company. Hala China is based in Dubai, which is home to nearly 3,000 Chinese companies, and was jointly launched by property developers Meraas and Dubai Holding in 2018 to enhance economic and cultural exchange between Dubai and China.
Samanea currently connects manufacturers with international retailers and consumers in the UAE, US, Australia, Canada and Thailand. The joint initiative aims to encourage Chinese companies to look beyond oil and explore trade opportunities in unconventional fields such as retail, hospitality, digital transformation, manufacturing, logistics and storage.
Ibrahim Hussain Ahli, director of Investment Promotion Department at Dubai FDI, said:
“Oil contributes only 2 per cent in the Dubai’s annual GDP and the rest goes to other sectors. Retail and hospitality are big – by 2020, Dubai is aiming to attract nearly 20 million visitors,” said Mr Ahli, adding that Dubai needs to construct more hotels to accommodate visitors, presenting opportunities for Chinese businesses, according to a report in the National. He added that Dubai offers several opportunities for Chinese companies looking to expand their customer base.
In 2018, China was Dubai’s largest trade partner for the fifth consecutive year and bilateral trade was around $38 billion, said Tan Li, acting consul general at the Consular General of China in Dubai. As the fourth largest investor, investment from China accounted for 7 per cent of FDI in Dubai last year.
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