Despite the global economic situation, 216 new businesses set up in Dubai Multi Commodities Centre’s (DMCC) Free Zone in April 2021, the highest recorded number for April in seven years.
The DMCC, the Free Zone and Government of Dubai Authority on commodities trade and enterprise, continued to attract a broad range of entrepreneurs, SMEs and larger multinationals to Dubai through its facilities and business support services.
“The global pandemic has resulted in business across the world reassessing where they are based to ensure they have access to the right levels of support, leading facilities and first-class services,” said Ahmed Bin Sulayem, executive chairman and CEO, DMCC.
“Our community of over 18,000 businesses continues to grow at record rates because we are doing exactly that – supporting our member companies and increasing their ease of doing business. This record month truly demonstrates the resilience of Dubai’s economy, and the commitment that DMCC has to its member companies,” he continued.
These solid results build on momentum coming from initiatives including the DMCC Cacao Centre and the upcoming DMCC Crypto Centre, which will further expand DMCC’s ecosystem for trade.
DMCC was able to increase engagement with key markets, including China, UK, France, India and others with interest from Israel remaining significantly strong through its new bundled price packages and targeted outreach , said DMCC in a statement.
These positive growth figures follow a record 205 companies joining the Free Zone in September 2020 and DMCC being awarded Global Free Zone of the Year by the Financial Times’ fDi Magazine for a sixth consecutive year in October 2020.
In April, DMCC announced the signing of a sale and purchase agreement with REIT Development to establish the largest precious metals refinery and storage facility in the Gulf region.
The facilities will also be the first to be completely enabled by blockchain in the GCC, DMCC said in a statement.
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