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.
In an interview with the Emirates News Agency (WAM), Al Shamsi noted that 79 new Armenian companies joined the Dubai Chamber of Commerce in the first half of 2025, bringing the total number of active Armenian business members to around 500.
Speaking on the sidelines of the Chamber’s trade mission to Yerevan, Armenia, held from 22nd to 23rd October, Al Shamsi said that the rapid growth in Armenian company registrations reflects rising confidence in Dubai’s business environment and reinforces the emirate’s status as a global investment hub.
He highlighted the rapid expansion of economic ties between Dubai and Armenia, pointing out that non-oil trade surged to US$7 billion (AED 25.7 billion) in 2024, a 76 percent increase compared to 2023, demonstrating strong momentum in bilateral cooperation.
Al Shamsi added that Dubai Chambers is participating in the trade mission alongside 16 Emirati companies operating across sectors such as food, agriculture, technology, and manufacturing, aiming to strengthen economic ties and explore trade and investment opportunities in the Armenian market.
He emphasised that the Armenian market holds strategic importance for Emirati businesses, highlighting Armenia’s growing openness to foreign direct investment in areas including consumer goods, logistics, hospitality, food and beverages, ICT, and consultancy services.
(Inputs from WAM)
