His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, reviewed the annual report of the Dubai International Arbitration Center for the year 2023.
His Highness said in his official account on the “X” platform: “I reviewed the annual report of the Dubai International Arbitration Center for the year 2023, which highlights remarkable growth, as 355 cases were registered in 2023, an increase of 4.4% on an annual basis, thus continuing its growth for the sixth year in a row.” The total value of claims exceeded 5.5 billion dirhams, in addition to establishing strategic partnerships with the most prominent parties concerned with arbitration at the regional and international levels, and hosting prominent international events in the field of international arbitration.”
His Highness continued: “Today, the Dubai Arbitration Center is witnessing interest from 49 countries, and it continues its pioneering role in the sectors of construction, real estate, banking, financial services, technology, and logistics services, and is day after day consolidating its global position as a leading center for international arbitration in line with the Dubai Economic Agenda D33.”
His Highness concluded by saying: “In conjunction with the thirtieth anniversary of the founding of the Center, we continue our mission in translating the visions of His Highness Sheikh Mohammed bin Rashid Al Maktoum by providing effective mechanisms for resolving disputes in a way that enhances investor confidence, establishing new standards of excellence in arbitration, achieving global leadership in the field of arbitration, and consolidating Dubai’s position.” A premier destination for entrepreneurs and investment.”
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