DUBAI: DMCC — the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise — registered 1,969 new companies in 2019, a signal of strong investor confidence in Dubai and the Authority’s position as one of the world’s most interconnected business districts.
DMCC finished 2019 with the strongest Q4 registrations in four years.
A total of 559 companies signed-up to the Free Zone in the fourth quarter, a 20% increase on the same period in 2018.
This follows the registration of 202 new member companies in October 2019, the highest figure in a single month for two years. Overall, registrations grew 5.4% year-on-year.
“DMCC is a global hub for trade and an interconnected business district in the heart of Dubai. We added 2000 companies from a variety of backgrounds and sectors in 2019, and are now home to over 17,000 companies. The strong 2019 performance is the result of us listening to our member companies, constantly enhancing our services and broadening our engagement with business communities around the world,” Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.
“DMCC continues to attract foreign direct investment to Dubai from key international markets including China and India. We look forward to welcoming more companies in 2020 and in turn, increasing our contribution to Dubai’s GDP and the wider national economic diversification strategy,” he added.
The new member companies include start-ups, SMEs and multinational firms from a variety of sectors, adding to the diverse business ecosystem DMCC has built within its Jumeirah Lakes Towers (JLT) community. Over 100,000 people live, work and thrive in JLT, where everyday lives are transformed by DMCC’s smart district solutions.
DMCC’s approach to attracting foreign direct investment to Dubai is in line with the eight principles of the Fifty-Year Charter announced in 2019 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.