Special offers for diamond firms launched by Dubai Government

World’s flagship Free Zone, Dubai Multi Commodities Centre (DMCC) and Dubai Government’s authority on commodities trade and enterprise have collectively launched a new discount campaign to encourage international diamond companies to set up operations in Dubai.

The new scheme which will be valid till the end of September 2020, will enable all diamond-connected companies to pay only 50% of the actual business set-up fees while joining DMCC.

The newly registered organizations will also be provided with free 12-month membership of the Dubai Diamond Exchange (DDE), a community of over 1000 leading diamond companies in Dubai.

To mark the campaign launch, DMCC lit up the world’s tallest building, Burj Khalifa with a breath-taking visual display in celebration of Dubai’s remarkable diamond story.

“The trade of precious metals and stones is a critical pillar of the nation’s economic diversification agenda. The UAE Ministry of Economy is focused on catalyzing a new phase of economic growth and development in the country, and supporting the trade connected to diamonds is a priority.”

He added, “Any initiative that connects the UAE with partners around the world and showcases the exciting business opportunities that exists here is one to be supported. DMCC should be commended for their work in this space and ambitious vision for commodities.”

Dubai is fast becoming the world’s leading diamond trading hub both in terms of value and volume after two decades of rapid growth. In 2003, the total value of rough and polished diamonds traded in the emirate was US$3.6 billion, a figure that rose significantly in 2018 to US$25 billion.

DMCC has also preparing to help Dubai become a leading international trade hub for Laboratory Grown Diamonds, LGD, and colored stones.

Dubai Multi Commodities Centre (DMCC)

Launched in 2002, DMCC has created the ecosystem, state-of-the-art infrastructure, facilities and services required to attract, facilitate and promote diamond trade in Dubai. The growth of the world’s largest diamond tender facility, Dubai Diamond Exchange alongside the success of knowledge-sharing platforms such as the flagship Dubai Diamond Conference, has placed Dubai at the heart of the region’s diamond industry.