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Armenian Investments In Dubai Reach US$383 Million |
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Armenian investments in Dubai reached approximately US$383 million during the period 2018–2024, according to Salem Al Shamsi, Executive Vice President of International Relations at Dubai Chambers. Speaking to the Emirates News Agency (WAM), Al Shamsi said that 79 new Armenian companies joined the Dubai Chamber of Commerce during the first half of 2025, bringing the total number of Armenian businesses registered as active members of the Chamber to around 500. He added, speaking on the sidelines of the Chamber’s trade mission to the Armenian capital Yerevan from 22nd to 23rd October, that the strong growth in Armenian company registrations reflects increasing confidence in Dubai’s business environment and reinforces the emirate’s position as a global investment hub. He highlighted the rapid expansion of economic relations between Dubai and Armenia, noting that non-oil trade surged to US$7 billion (AED25.7 billion) in 2024 - an increase of 76 percent compared with 2023 - illustrating the strong momentum in bilateral cooperation. Al Shamsi added that Dubai Chambers is participating in the trade mission alongside 16 Emirati companies operating in various sectors, including food, agriculture, technology, and manufacturing, with the aim of enhancing economic ties and exploring trade and investment opportunities in the Armenian market. He underlined that the Armenian market holds strategic importance for Emirati businesses, noting Armenia’s increasing openness to foreign direct investment, particularly in areas such as consumer goods, logistics, hospitality, food and beverages, ICT and related consultancy services. |
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