The Dubai Multi Commodities Centre (DMCC) which is the world’s flagship Free Zone has been awarded Global Free Zone of the Year 2020 for the sixth consecutive year by Financial Times’ fDi Magazine.
It was also recognized as the Middle East Free Zone of the Year.
The Financial Times’ expert editorial team and a board of independent judges for each region awards were a part of the judging panel. The evaluation of each free zone was made based on a range of criteria which includes growth rate, services, products and facilities available and importantly, the launch of new key programs to support businesses.
For the Global Free Zone award 100 candidates submitted their entries, including peers from the Middle East region. Amid this increased competition, the prestigious recognition DMCC received is evidence of its continued commercial appeal and ability to attract businesses of all sizes.
In celebration of the award, DMCC has announced an extension of its Business Support Package for existing and new members until 31st December 2020.
Business Support Package is the biggest commercial package ever released by DMCC and offers a variety of discounts to support business, reduce cost and safeguard operations against the impact of COVID-19. The free zone is also working to announce further promotions in the coming days.
“In 2002, DMCC set out to create an innovative business hub like no other in the heart of Dubai. Subsequently, we developed a commercial ecosystem for trade that welcomed forward thinkers from around the world and provided the support and services required to take their enterprises to the next level.”
“Receiving this prestigious award for the sixth time is a special moment for everyone connected to DMCC. 2020 has placed immense pressure on us all, but this award reassures us that we are on the right track. By working together and constantly striving for higher standards, we have come to embody Dubai’s hard work and ambition as a global center for trade that embraces all businesses that share our vision,” he added.
DMCC provides world-class infrastructure, products and services to a community of 100,000 people. In 2019, the DMCC widened it’s business offering by launching the DMCC Coffee Centre, refurbishing its Dubai Diamond Exchange (DDE) which is currently the largest tender facility in the world and starting the Dubai Design Academy (DDA).
The Free zone’s record of attracting Chinese businesses to Dubai through their Business Centre and marketing outreach program in Mandarin was the key step to this prestigious award. The judging panel also appreciated DMCC’s supportive approach to SMEs.
1,969 companies registered in DMCC in 2019 while a whopping 210 companies registered in September 2020 alone. Currently, DMCC has over 18,000 member companies and contributes about 10 percent to Dubai’s GDP. With the trading of a wide range of commodities from gold and diamonds to tea and coffee the free zone also plays a significant role in the UAE’s diversification strategy.