UAE-based commodity marketplace Dubai Multi Commodities Centre (DMCC) has received the Global Free Zone of the Year 2021 award from the Financial Times’ fDi Magazine for the seventh consecutive year.
The award, which is the highest honor a free zone can receive, is a testament to DMCC’s outstanding performance in 2020 and the efforts it took to promote and enable its business community’s success.
According to the reports, DMCC also claimed Global Free Zone of the Year and Middle East Free Zone of the Year- Large Tenants, Middle East Free Zone of the Year and received Global and Middle East Excellence Awards and honorable mentions for COVID-19 Response, Infrastructure Investment, SMEs, Sustainable Reporting and Leadership.
“Securing the fDi Global Free Zone of the Year award for a seventh consecutive time is not only testament to the value and opportunity available with DMCC, but its agility to move with global demand. In doing so, we’ve not only supported our existing members during 2020 but gained record-breaking company registrations thanks to our business support packages that provided numerous waivers and sectorial benefits, while expanding our pre-existing online services. This, combined with the opening of our international representative offices in Tel Aviv and Shenzhen, and our new DMCC Crypto Centre and DMCC Cacao Centre, have meant a growing opportunity for businesses of all types to become a part of our highly diversified community and benefit from our unrivaled, global connectivity.”
The Excellence Awards for Leadership were given to DMCC because of its capacity to quickly adjust to the pandemic situation and provide relief, as well as its flagship research on The Future of Trade. The award-winning research investigates the impact of geopolitics, technology, COVID-19, and global economic trends with an emphasis on trade growth, supply chains, trade finance, infrastructure, and sustainability.
DMCC achieved ‘Honorable Mentions’ for its sustainability reporting based on adopting an enhanced 5C Sustainability Framework and improving its smart and sustainable district infrastructure, digitalization, and transparency.
As per the reports, over 70 free zones from across the world were assessed against a set of multidisciplinary criteria. The awards were judged by both the Financial Times’ specialist editorial team and a panel of independent judges for each region. The team scored each nomination in categories including strategy, COVID-19 response, infrastructure development, and promotion of sustainability and ESG projects.