The Dubai Multi Commodities Centre (DMCC) has seen its strongest first-half year performance since it was set up in 2002.
DMCC registered a record 1,469 new companies in the first six months of 2022, a 19 percent increase over the same period last year.
The flagship free zone said the growth was driven by strong commodities trade and the continued appetite for the DMCC Crypto Centre, along with the ease of setting up and doing business at DMCC.
The strong performance follows a record-breaking 2021, in which DMCC attracted 2,485 companies. DMCC is now home to over 21,000 businesses.
In June alone, DMCC welcomed 323 new businesses to its free zone and business district, the best monthly performance since its inception.
This followed on from the record-breaking 2021, in which DMCC attracted 2,485 new members.
This persistent growth was driven by strong demand from international markets including Europe, China, and India, demonstrating Dubai’s continued commercial appeal.
Growth was also buoyed by continued interest in the DMCC Crypto Centre, and high volumes of trade for a range of commodities, predominantly diamonds, tea and coffee.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, said the centre was constantly striving to further enhance Dubai’s status as a hub for doing business across the globe.
“With our facilities and services truly representing the centre of global commodities trade, DMCC continues to be a core partner to its members, having a significant positive impact on the emirate’s thriving economy,” he added.
Feryal Ahmadi, Chief Operating Officer, DMCC, added: “Throughout the remainder of the year, we will continue to invest in talent, sustainability, and innovation to ensure efficient delivery of our ambitious strategy, providing a leading environment for businesses to trade and connect with the world.”
DMCC has continued to promote Dubai as a prime destination for FDI, conducting roadshows in six key markets including the UK, Spain, Turkey, Poland, Brazil and Colombia, highlighting the opportunities on offer in the emirate.
The outreach programmes have proved to be highly effective, with 40 percent of new companies in H1 originating from Europe and South America.
China and India continue to be crucial target markets for DMCC, comprising a combined 20 percent of new members in 2022 so far.
As a trusted ecosystem for the development and operation of blockchain and other cryptographic technologies, the DMCC Crypto Centre has seen significant interest since its launch in mid-2021.
The Crypto Centre offers a home to all types and sizes of crypto businesses, from companies developing blockchain-enabled platforms, NFTs and Metaverse environments, through to firms trading crypto assets.
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