KHALEEJ TIMES, Tuesday, Jan 5, 2021 | Jamadi Al Awwal 21, 1442
DMCC sets five-year record in new registrations
Emirates:
The Dubai Multi Commodities Centre (DMCC) said on Monday that it
registered a record breaking 2025 new companies in 2020 notwithstanding the
challenges of the Covid-afflicted business environment.
The free zone said in a statement that 2020 witnessed the highest number of
registrations in five years “primarily due to the Business Support Package.”
“Despite an overall business environment shaped by the Covid-19 pandemic, the
record-breaking registrations are a testament to Dubai’s continued appeal to
investors and the trust they place in the world’s leading free zone.”
“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,” said
Ahmed bin Sulayem, executive chairman and chief executive officer, DMCC.
He said DMCC’s strong performance, which saw 2,025 companies set up in its 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.”
DMCC’s Business Support Package saw interest from companies in 149 countries.
This was the business hub’s largest ever commercial offer, offering a wide range
of incentives and value added services to both existing and new companies in the
free zone. More than 8,000 member companies availed over 13,000 offers and
incentives granted throughout 2020.
DMCC said the record number of new registrations was also the result of
significant enhancements to its customer service, its simplified and fully
digitalised set up processes and easier onboarding.
Feryal Ahmadi, chief operating officer, DMCC, said both new and existing
companies in the free zone received relief and support during the challenging
year. “Our focused market outreach, our emphasis on a digital first customer
experience and our unmatched support to the community, yielded record-breaking
results – and supported our existing member companies.”
Ahmad Hamza, executive director – Free Zone, DMCC, said the free zone’s feat is
a testament to the trust placed in it by the global business community and the
attractiveness of the ecosystem it provides. “By offering our largest business
relief package in our history and ensuring a seamless, fully digitalised set up
process, we remained the business hub of choice, attracting companies of all
sizes, sectors and origins.”
DMCC signed a collaboration agreement with the Israel Diamond Exchange through
its Dubai Diamond Exchange in September to promote bilateral trade opportunities
and drive innovation in the diamond industry. Shortly after, DMCC inaugurated
its representative office in Ramat Gan, Tel Aviv, the free zone said.
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