Dubai: DP World launched its new strategic arm, Global Business Corporation (GBC) on Friday. The new Corporation will provide business set-up and licensing (under common law-based GBC Regulations) for large companies that wish to set up a limited liability entity or branch in Dubai.
The GBC licence will allow a foreign or domestic corporate group to own and operate a business management entity based on their own strategies, operational needs and capital requirements. GBC license holders registered in Jebel Ali Free Zone (Jafza) can also be used as holding companies.
“With the growth of manufacturing in this region, our air, sea, road, and rail infrastructure connect Dubai to markets all over the world,” Sultan Ahmed bin Sulayem, Chairman and CEO of DP World said in a statement. “With the launch of GBC, we plan to be standard-bearers for ambitious and high-growth companies from around the world.
“We want them to thrive, and we are confident Dubai is the place to achieve their ambitions”
The Corporation will focus on raising awareness of Dubai’s strengths and benefits as a location for high-value centralized business operations of large companies, such as headquarters, functional centres, finance and treasury hubs.
“When governments and central banks, and bankers debate how to control spiralling inflation, the business community also looks for new solutions,” said Mohammed Al Muallem, Executive Vice President of DP World. “Multinational corporations are thinking more strategically than ever about how and where they do business.”
“This is why we believe that new and innovative approaches are needed to help businesses deliver these factors,” he said. “All points to Dubai as a destination for headquarters, or regional hubs that can truly add value and agility with the launch of GBC.”
The company’s business-enabling ecosystem includes special economic zones, the region’s largest trade port and a comprehensive portfolio of services and solutions. By connecting companies to business enablers across Dubai, GBC will help companies find scale and operate “seamlessly”
“Today, our plan is to become the standard bearer for ambitious multinational companies focused on strategic growth in a remapped post-pandemic world,” said Al Muallem.