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Saturday, July 13, 2024

Dubai Chambers Unveils Mohammed Bin Rashid Al Maktoum Business Award.

Dubai Chamber has introduced the Mohammed Bin Rashid Al Maktoum Business Award to recognize businesses contributing to the local economy. The award includes four categories: Outstanding Business Award, Family Business Award, Global Expansion Award, and Digital Innovation Award.

Abdul Aziz Al Ghurair, Chairman of Dubai Chambers, explained that the award aligns with Dubai’s economic strategy, D33, aiming to double the city’s economy over the next decade. It’s open not only to local companies but also international firms with a significant presence in Dubai.

This award results from merging two prestigious awards: the Mohammed bin Rashid Al Maktoum Business Award and the Dubai Quality Award.

Key Award Timeline:

  • Nominations open
  • October 2023: Registration for workshops and applicants’ workshop
  • December 2023: Submission phase
  • March 2024: Submission review, assessment, and site visits
  • April-June 2024: Winners’ selection and award ceremony, feedback reports, and action plan workshop

The evaluation process covers leadership, strategy, workforce management, ESG, digital transformation, and financial performance. Eligibility is not determined by a company’s size, but rather its innovation and results.

The award places emphasis on family businesses and aims to support them while providing necessary training for succession planning. Family-owned businesses have played a significant role in Dubai’s economy, and the award seeks to encourage and nurture them.

Goals of the New Award:

  • Promote global best practices for business growth.
  • Recognize outstanding local and global business excellence.
  • Foster sustainable growth for national companies.
  • Encourage international business expansion.
  • Elevate Dubai’s status as a global digital economy capital by supporting digital transformation in international companies and startups.

(Courtesy Gulfnews)

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