Dubai Eyes Fintech, Islamic Finance as Growth Opportunities for Malaysian Companies
KUALA LUMPUR, Nov 25 (Bernama) -- The United Arab Emirates (UAE), particularly Dubai, sees financial technology (fintech) and Islamic finance as emerging priority sectors and is encouraging Malaysian companies to tap into these opportunities.
Dubai Chamber of Commerce’s international relations executive vice-president, Salem Al Shamsi said at the same time, traditional sectors such as construction and fast-moving consumer goods trading remain active alongside these new areas of focus.
He highlighted the growing regional interest in what Dubai has to offer, particularly its logistics capabilities and strong connectivity to markets such as Africa and the subcontinent.
“The UAE has positioned itself as a global trading hub, specifically Dubai. So, for us, it's more about looking into the relationship and building on what we have currently to help Malaysian companies benefit from what Dubai offers as a global trading hub,” he said.
Salem said this to the media after the signing of the memorandum of understanding (MoU) between the Dubai Chamber of Commerce and the National Chamber of Commerce and Industry of Malaysia (NCCIM) here on Tuesday.
The MoU, inked by Salem and NCCIM president Datuk Seri N. Gobalakrishnan, aims to enhance bilateral trade relations and strengthen ties between the business communities in Dubai and Malaysia.
The non-oil trade between Malaysia and Dubai reached US$4.9 billion in 2024, an impressive annual growth of 20 per cent.
Meanwhile, the number of Malaysian companies registered as active members of the Dubai Chamber of Commerce stood at 318 as of Sept 30, with 73 new Malaysian companies joining the chamber over the first nine months of 2025.
The Dubai Chamber of Commerce has identified several high-potential products for export from Dubai to Malaysia, including organic and inorganic chemicals, aircraft and spacecraft parts, turbo-jets and turbo-propellers, plastics, copper, iron, and nickel, as well as coffee, tea, and dairy products.
At the same time, Dubai-based companies have ample opportunities to explore key investment sectors in Malaysia, such as transport and warehousing, real estate, tourism and hospitality, plastics, business services and healthcare.
Salem said the UAE is working to diversify its economy as much as possible, noting that Dubai, for instance, does not rely on oil, which accounts for less than two per cent of its economy.
“We have diversified a long time ago in Dubai and built the infrastructure to help different businesses thrive.
“The International Financial Centre, for example, is one of the largest sites when it comes to financing in our region. In a nutshell, we're looking into how we can increase bilateral trade to facilitate more businesses into the city and help them grow,” he said.
The Dubai Chamber of Commerce is a non-profit public entity that supports Dubai's vision as a global player by empowering businesses, delivering innovative value-added services, and unlocking access to influential networks.
-- BERNAMA
