DMCC records highest company registrations in 5 years

By Rahul Vaimal, Associate Editor
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The world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprises, DMCC (Dubai Multi Commodities Centre) has registered 2025 new companies in 2020, the highest number of registrations in five years.

DMCC said in a statement that despite an overall business environment influenced by the pandemic, the record-breaking registrations are a testament to Dubai’s continued appeal to investors and the trust they put in the world’s leading Free Zone.

The strong performance of DMCC is mainly because of the Business Support Package introduced last year, which attracted interest from businesses in 149 countries. This was the largest commercial deal ever made by the business center, offering both current and new businesses in the Free Zone a wide variety of rewards and value-added services.

Ahmed Bin Sulayem
Ahmed Bin Sulayem
Executive Chairman & CEO

“2020 was a year like no other, with the COVID-19 pandemic impacting every society, business, and country. Despite the countless challenges at our doorstep, the UAE’s visionary leadership and prompt and decisive actions meant that our economy remained resilient throughout. DMCC’s strong performance, which saw 2025 companies set up in our Free Zone during a global crisis, is a clear indication that the UAE and Dubai remain the chosen place to do business. We know that 2021 will not be without its obstacles, but we are optimistic about our growth trajectory and our continued ability to attract foreign direct investment to the Emirate.”

The record number of new business registrations is also the result of DMCC’s substantial changes in the customer service, its streamlined and fully digitized set-up procedures, and simpler onboarding.

Feryal Ahmadi, Chief Operating Officer, DMCC, said, “DMCC set out with great ambitions at the start of 2020, and quickly had to adapt to the reality of the pandemic. The confidence that partners and members place in DMCC will enable us to boost the future of trade through Dubai and strengthen our position as a leading global business hub in the year ahead.”

The Executive Chairman and Chief Executive Officer of DMCC hosted a series of virtual briefings with UAE Ambassadors and representatives in key markets, including China, India, the UK, Germany, Canada, and Colombia.

DMCC has signed a partnership agreement with the Israel Diamond Exchange in September 2020 through its Dubai Diamond Exchange to foster bilateral trade opportunities and accelerate diamond industry innovation. Soon after, DMCC inaugurated its representative office in Tel Aviv, Israel.

China remains a major target market for DMCC, and the number of Chinese business entered in the Free Zone increased in 2020. Also, DMCC opened a representative office in Shenzhen, China, which is expected to create new business opportunities in Dubai.