The world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprises, DMCC (Dubai Multi Commodities Centre) announced the official opening of a representative office in Shenzhen, China, which is expected to lead to a new wave of business opportunities to Dubai.
The setting up of the office is in collaboration with Yingtian Global, an award-winning corporate service provider that has assisted the expansion of over 300 Chinese companies in the MENA region.
The physical presence in the country will lead DMCC to the doorstep of Chinese companies and provide a simpler route for the companies to set up an office in Dubai without travelling. The office will provide advisory and consulting services in a common language, a convenient time zone and provide a host of services such as witnessing signature and verifying documents.
The opening of a representative office in Shenzhen, a commercial and financial center, will allow DMCC to identify business opportunities, communicate with potential partners and attract businesses to Dubai through a quicker and more productive process. DMCC has also developed a dedicated Chinese website for the representative office that provides easy access to complete information to help Chinese companies set up in DMCC.
The announcement of the new office was announced under the theme ‘Expand your business in Dubai and beyond’ during an event in China. DMCC informed attendees on the ease of setting up a company within its Free Zone, underlining its key role as a trading center and gateway for global trade. The discussion also highlighted Dubai’s appeal to foreign companies as a forum for expansion given its strategic position and global connectivity.
“China has always been an important market for Dubai and DMCC, and we have played the main role in developing the bilateral trade relations over the years. Sitting at the crossroads of the world, DMCC is eager to support Chinese businesses establish a foothold in the Middle East and beyond. The opening of this representative office will allow us to work closely with the Chinese business community and unlock a host of opportunities. It will also further the longstanding commercial relationship that exists between the UAE and China, and reinforce our support to both the Dubai Silk Road strategy and the One Belt One Road Initiative and the mutual business potential they will bring.”
China is the largest trading partner of Dubai with $18 billion (AED 66.4 billion) worth of trade in the first half of 2020. DMCC already has 544 Chinese companies, equal to almost 10 percent of all Chinese companies registered in the country.
Li Feng, General Manager of China Business Centre DMCC, Yingtian Global, said, “The opening of a representative office in Shenzhen reaffirms the real commitment by DMCC to enhance the ease of doing business for the Chinese community. Dubai without a doubt presents the ideal ecosystem for Chinese businesses looking to expand across the Middle East and we are confident that DMCC will enable those companies to seamlessly tap into a vast array of opportunities. We look forward to closely cooperating with DMCC to explore and introduce more opportunities and together, help write the next chapter of the UAE and China story.”
One of the main target markets for DMCC has always been China. In 2017, the DMCC Yingtian Chinese Business Centre was set up to assist Chinese businesses wishing to set up Free Zone operations. The DMCC website was also released in Mandarin (Chinese language) in the same year.