Dubai: 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 highlighted a significant development in the business relationship between Armenia and Dubai.
According to Emirates News Agency, Al Shamsi revealed that 79 new Armenian companies joined the Dubai Chamber of Commerce during the first half of 2025, which increased the total number of Armenian businesses registered as active members of the Chamber to around 500. This growth in company registrations indicates a rising confidence in Dubai’s business environment and solidifies the emirate’s status as a global investment hub.
Al Shamsi, speaking on the sidelines of the Chamber’s trade mission to Yerevan from 22nd to 23rd October, emphasized the rapid expansion of economic relations between Dubai and Armenia. Non-oil trade between the two surged to US$7 billion
(AED25.7 billion) in 2024, marking a 76 percent increase compared with 2023. This growth underscores the strong momentum in bilateral cooperation.
He further noted that Dubai Chambers, alongside 16 Emirati companies from sectors such as food, agriculture, technology, and manufacturing, participated in the trade mission. The initiative aims to enhance economic ties and explore trade and investment opportunities in the Armenian market, which holds strategic importance for Emirati businesses.
Al Shamsi also pointed out Armenia’s growing openness to foreign direct investment, particularly in sectors like consumer goods, logistics, hospitality, food and beverages, ICT, and related consultancy services, which presents ample opportunities for Emirati enterprises.