Mohammad Ali bin Rashed Lootah has been named the new president and CEO of Dubai Chambers, beginning October 24.
His appointment comes after Hamad Buamim, the chamber’s president and CEO for 16 years, stepped down in August.
Lootah has held a series of prominent positions during his career, having most recently served as the CEO of commercial compliance and consumer protection, as well as acting executive director of the commercial registration and licensing sector, at the Dubai Department of Economy and Tourism (DET).
“The appointment of a new president and CEO will add to the chambers’ creative capacities and bring in new leadership, capable of setting policies and implementing strategic plans,” said Abdul-Aziz Abdulla Al Ghurair, chairman of Dubai Chambers.
Lootah will lead the chambers in overseeing the implementation of initiatives and strategic plans, it said in a statement.
“Dubai Chambers enjoys a reputable position within the local and international business communities,” added Lootah. “I look forward to continuing on this successful path and working with all teams to safeguard the achievements and progress that have been made so far, and to pave the way for more accomplishments in the future.”
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the legislations earlier this year, which included a decree establishing Dubai Chambers as a new entity.
Under the new structure, three chambers of commerce operate under Dubai Chambers, namely Dubai Chamber of Commerce, Dubai International Chamber and Dubai Chamber of Digital Economy.
In the first eight months of 2022, more than 27,100 new businesses joined the Dubai Chamber of Commerce, representing a 69% increase year over year.
