UAE
DMCC, Dubai’s prominent free zone authority specializing in commodities trade and enterprise, has unveiled its latest annual report, revealing significant growth in company registrations. According to the report, a noteworthy 2,692 new companies joined DMCC in 2023, boosting the total count to over 24,000 thriving enterprises.
The surge in registrations is attributed to various factors, including the launch of new industry ecosystems, expanded service offerings, and the inauguration of the iconic Uptown Tower. Ahmed Bin Sulayem, the executive chairman and CEO of DMCC, expressed confidence in the district’s trajectory, emphasizing its readiness for accelerated growth and heightened investor interest.
DMCC COO Feryal Ahmadi highlighted the organization’s commitment to maintaining its position as a market leader and international business hub of choice for companies seeking global connectivity from Dubai.
The annual report also showcased several noteworthy figures from DMCC’s performance in 2023. These included DMCC’s contribution of 11 percent to total foreign direct investment (FDI) inflows into Dubai, the addition of 460 new energy companies, and the hosting of 70 tenders by the Dubai Diamond Exchange (DDE), among others.
Furthermore, DMCC solidified its position as a hub for crypto, blockchain, and Web3 technology, with the addition of notable companies to its Crypto Centre. Additionally, the free zone identified AI and gaming as key growth areas, with expansions planned for its Gaming Centre and the imminent launch of a new AI Centre.
Other highlights from DMCC’s performance in 2023 include significant trading activity on the Dubai Gold and Commodities Exchange (DGCX), robust operations at its Coffee and Tea Centers, and continued growth of DMCC Tradeflow, a digital registry for commodity ownership.
The inauguration of Uptown Tower, along with announcements of new residential developments and community enhancements in the Jumeirah Lakes Towers (JLT) area, further underscored DMCC’s commitment to growth and development.
Overall, the annual report reflects DMCC’s thriving ecosystem and its pivotal role in Dubai’s economic landscape, setting the stage for continued success and expansion in the years to come.
