Significant Record of 2,016 New Member Companies Welcomed by DMCC to its Dubai Free Zone in 2016
A few days ago, the annual report of Dubai Government authority on trade, enterprise and commodities (DMCC) was announced and it incorporates the results of the outstanding 2,016 new member companies in 2016. With a 14 percent increase from last year and a 33 percent average growth rate in over 10 years, DMCC has become the leading Free Zone in the world with 13,500 companies.
According to the records from the annual report, DMCC has had an exceptional year from its property, Free Zone and commodities collection and to top it all, being named by the Financial Times magazine as the world’ Free Zone leader for the second time in a row.
To add to the list of achievements, DMCC had a $440billion worth of trading capacities for more than 19.7million contracts for its Dubai Gold and Commodities Exchange (DGCX) portfolio which is a 36 percent upgrade from 2015, a 405 percent growth in comparison to 2015 on its trade flows with 11,412 dealings valued at Dh.58billion, and the selection of Ahmed Bin Sulayem, DMCC’s Executive Chairman as the UAE representative for Kimberley Process Chair; an eminent distinction and acknowledgement of Dubai’s and UAE’s rank as the global leader in the diamond industry
The Executive Chairman, Ahmed Bin Sulayem stated on DMCC’s 2016 performance saying:
“Dubai and DMCC’s mandated goal of connecting new markets with well-established markets is clear, and in 2016 we achieved it by welcoming an average of 7 new companies every working day. This brings significant foreign direct investment to Dubai.
Dubai's advantage of being situated at the intersection of the world's real markets, both as far as time zone and proximity, implies that we remain ideally situated to encourage worldwide trade. In any case, it is likewise the unrivalled nature of the framework, the expert help and physical stages for the exchange we offer that conveys universal business to DMCC.
As a partner of choice in the Middle East for businesses throughout the world, we take our responsibility to act in the best interests of those companies very seriously. Everything we do, from introducing digital services, to providing a business-friendly regulatory environment, is undertaken with the intention of ensuring our member companies have everything they need to thrive.”
Constant robust progress from DMCC’s commodities transactions and release of new products include:
The remarkable introduction of DGCX Shanghai Gold Futures (DSGC) after signing a groundbreaking contract with Shanghai Gold Exchange (SGE) in 2015. DSGC made it possible for the first time ever, the use of Shanghai Gold Standard Price in the global markets. DMCC Trade flow taking its Shariah-compatible Salam forward funding operation to market, allows a buyer to pay before buying indicated properties that the trader will deliver on a prearranged day.
DMCC revealed its plan to develop a coffee centre in 4,500 square meters temperature coordinated facility which will provide storing, warehousing, offices and co-location services.
With a growth rate of 200+ percent in over 3 years, DMCC Tea Center in 2015 controlled 41.6million kilos of tea and currently develops teas from 13 countries comprising of Kenya, India, Sri Lanka, Indonesia, Malawi, Rwanda, Tanzania, Mozambique, Vietnam, Japan, Uganda, and China. In addition, it revealed plans to introduce ‘Shai Dubai’, its own high-quality tea product in Dubai.
The unveiling of Food Trade Group, the first initiative with the objective to bring the food and banking industry together.
Dubai is the chief leader in the physical gold market and one of the highest three diamond trading centres in the world.
As part of Dubai Week, DMCC unveiled its international roadshow in China in October supporting DMCC’s effort to link markets and enhance commodities trade from the West to East; – in honest relation to China’s Belt and Road initiative. DMCC’s ‘Made for Trade Live’ – an international outreach program unveiled in March, in the UK will visit Shanghai and Shenzhen in China in April this year.
With a concentration on China, in 2016 DMCC endorsed around 20 MoUs and held 155 local and international events of which the Kimberley Process Intercessional and Plenary were included.
Up till date, DMCC property portfolio includes 66 highly maintained domestic and commercial towers in Jumeirah Lakes Towers with more than 87,500 people living and working there.
Having finalized its Burj2020 District master development plans, which seeks to bring to Dubai a new first-rate mixed-use district ideal for the international business society. This district will propose topnotch commercial, residential and retail spaces, incorporating the finest hotels, restaurants, leisure areas and two symbolic and very tall towers designed by foremost architects Adrian Gill & Gordon Smith.
DMCC is also constructing exceptional A+ business offices with sustainability at the centre of Dubai’s continuing expansions. An illustration of this is ‘One JLT’, delivered end of 2015; a LEED Gold Standard office building that offers energy- efficient office spaces over 14 floors. Businesses like Modul University, One Business Centre, Tim Hortons, Omobono, Real Pilates, 1762 and many more are located at One JLT
Last year, in order to guarantee that over 87,500 residents and employees of the Free Zone community can live, work and flourish in a progressive community, DMCC is dedicated to establishing a longstanding Smart District plan that provides state-of-the-art technology, connectivity and facilities through objectives and initiatives that are smart and affiliated with Dubai’s smart city rules for the advantage of our entire community. Initiatives will be revealed this year.
Notwithstanding a decelerating economy worldwide, with 2,016 new companies in 2016 and incorporating an average of seven new companies each working day, DMCC’s Free Zone, the world’s biggest and fastest growing, recounted robust development, having more than 13,500 companies in the Free Zone including Alcatel Lucent Middle East and North Africa, American Express, Bulgari, Carrera Y Carrera, Colgate-Palmolive, Duracell, Dyson, Eurofin, Hakan Agro, John West Foods, Louis Dreyfus, Lukoil, LVMH, Nutricia Danone, Oddfjell, Olam International, Tata International, TAG Worldwide, Topaz Energy and Marine, and Whirlpool.
What DMCC’s CEO, Gautam Sashittal had to say:
“In 2016, DMCC delivered strong performance by attracting a record 2,016 new members to our Free Zone; delivering high-quality commercial spaces such as ONE JLT; enhancing products, services and infrastructure for our customers; and by creating new, as well as nourishing more established marketplaces for the benefit of global trade. “We created unique offerings for the agricultural industry, commenced our coffee centre, and fostered greater collaboration across a range of commodity sectors. More Industry Players and Market Opportunities to Dubai will be seen in DMCC”.
“In 2017, we will continue to expand our international reach, form new strategic partnerships; and further enhance collaboration with key industry, trade and government entities locally and internationally, as we continue our journey as the world’s leading Free Zone”.
In addition, DMCC as an authority of global trade unveiled its thought leadership program with a commentary on ‘The Future of Trade’ generating more than 8,500 downloads solidifying Dubai’s position as a world specialist on global trade providing an understanding of how 'The Future of Trade' producing more than 8,500 downloads cementing Dubai's position as a world expert on worldwide exchange giving a comprehension of how 'The Future of Trade' will develop throughout the following decade, drawing reference from experiences shared by 150 experts crosswise over five landmasses in a time of one year. 'The Future of Trade' was made by DMCC in accumulation with Futureagenda.org and a main UK financial aspects consultancy, the Center for Economics and Business Research (Cebr)
For further information on DMCC and the full annual report can be found on the website.