Dubai Multi-Commodities Centre (DMCC) revealed on Monday that it has registered 2,025 new companies in 2020, the highest number of registrations in five years.
Despite an overall business environment shaped by the Covid-19 pandemic, DMCC said the level of registrations “are a testament to Dubai’s continued appeal to investors”.
DMCC’s strong performance was primarily due to the business support package launched in March that 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.
Supporting its member companies in the community, more than 8,000 member companies availed over 13,000 offers and incentives granted throughout 2020, DMCC said in a statement.
Ahmed Bin Sulayem, executive chairman and CEO, DMCC, said: “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 that our economy remained resilient throughout.
“DMCC’s strong performance, which saw 2025 companies set up in our 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.”
Feryal Ahmadi, chief operating officer, DMCC, added: “DMCC set out with great ambitions at the start of 2020, and quickly had to adapt to the reality of the pandemic. Beyond successfully reaching our targets, we made sure that both new and existing companies in the free zone received relief and support during the challenging year.”
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Ahmed Bin Sulayem, executive chairman and CEO, DMCC (left), and Feryal Ahmadi, chief operating officer, DMCC
In light of global travel restrictions, DMCC took its flagship Made for Trade Live roadshow online, hosting 19 virtual sessions in key markets including China, Israel, Russia, Switzerland, Germany, Angola, South America, Spain, Turkey, Ukraine and the UK.
DMCC also shifted all of its networking events and learning seminars online. Its member companies were provided access to 83 webinars, averaging two sessions per week. Overall, DMCC gathered 11,000 attendees virtually in 2020.
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