DUBAI – DMCC – the world’s flagship free zone and Authorities of Dubai Authority on commodities commerce and enterprise – has introduced that it achieved its best-ever yr for brand new member firm registrations, attracting 3,049 new companies to Dubai in 2022.
A rise of 23% year-on-year, breaks the earlier file set in 2021 when DMCC registered 2,485 new members.
The file progress was pushed by outstanding worldwide demand, DMCC’s continued work inside key commodities sectors, and the rising demand from blockchain and web3 companies for house on the DMCC Crypto Centre, to the extent that the Crypto Centre is now residence to over 500 corporations.
Every of those areas was underpinned by DMCC’s dedication to rising the benefit of establishing and doing enterprise in Dubai.
Ahmed bin Sulayem, Government Chairman and Chief Government Officer, DMCC, stated, “Backed by a robust regional macroeconomic panorama, DMCC has been effectively accelerating its progress technique all through 2022, specializing in supporting its member corporations in high-impact sectors reminiscent of web3 and blockchain applied sciences, commodities and world commerce.”
He added, “I typically view our member firm registrations as a barometer for business and FDI exercise in Dubai – these record-high numbers reveal burgeoning investor confidence within the emirate and the rising variety of alternatives that Dubai presents.”
Feryal Ahmadi, Chief Working Officer of DMCC, commented, “Rising our annual firm registrations by 23% units a brand new baseline for DMCC. With quite a lot of thrilling new initiatives within the pipeline and the unwavering dedication of the complete DMCC group, I’m assured that we will carry this momentum ahead into 2023.
“Subsequent yr will see DMCC construct on its place of power by additional enhancing its providers and choices and forging new partnerships throughout the globe, all with the last word purpose of driving new commerce flows by means of Dubai.”
As blockchain and web3 applied sciences create more and more optimistic financial and social impacts throughout all sectors and industries, the DMCC Crypto Centre has seen its group develop quickly over 2022. Now residence to over 500 members, it represents the biggest focus of crypto and blockchain corporations within the area.
DMCC Crypto Centre partnered with world VC agency Brinc to offer its members with entry to their US$150 million accelerator fund. Brinc is a portfolio firm of Animoca Manufacturers, a world chief in web3 and blockchain funding.
This main partnership helps the long-term and fast progress of the businesses that develop web3 and blockchain applied sciences and related value-added providers on the DMCC Crypto Centre.
Reflecting DMCC’s drive so as to add worth on the intersection of know-how and commodities, DMCC partnered with SafeGold and Comtech Gold to tokenise gold bars primarily based in UAE services.
Every gold bar shall be backed by a DMCC Tradeflow warrant, which means that the elevated ease of buying and selling a tokenised asset is mixed with the extra safety, transparency and real-asset allocation supplied by the Tradeflow warrant.
The Dubai Diamond Alternate (DDE), the world’s largest diamond tender facility, noticed robust demand from corporations internet hosting tenders and auctions of diamonds and valuable stones.
Dubai is without doubt one of the main commerce hubs for each tough and polished diamonds and is rising in prominence for colored gems and lab-grown diamonds as nicely. The UAE was additionally nominated because the Kimberley Course of Chair in 2024, offering assist as Vice Chair in 2023.
DMCC continues to be the official accomplice of the second version of the Jewelry Gems & Expertise (JGT Dubai, February 2023) and is internet hosting the Worldwide Colored Gemstone Affiliation (ICA) Congress in February 2023.
The tenth version of the Dubai Treasured Metals Convention (DPMC) convened a whole lot of worldwide valuable metals leaders to debate the challenges and alternatives current in right now’s gold and valuable metals business.
The DMCC Tea Centre dealt with over 42,000 metric tonnes of bulk tea, with an general worth addition quantity of 8,200 metric tonnes of packaged tea, together with round 400 million tea luggage. This represents a 27% enhance from 2021 and is a brand new file for the Tea Centre for the quantity of tea dealt with.
The DMCC Espresso Centre saved and processed greater than 4,000 metric tonnes of inexperienced and roasted espresso from a broad vary of manufacturing markets throughout Central and South America, Asia and Africa. The Centre noticed 57 new members within the yr, demonstrating the numerous worth that the power provides to the worldwide espresso provide chain.
The DMCC Espresso Centre additionally supported the business by internet hosting a spread of occasions, together with the first-ever Center East Espresso Roasting Championship and the UAE Aeropress Championship. Moreover, it partnered with COEX and Vicofa for the 2022 version of the Vietnamese Espresso Expo.
DMCC Tradeflow, a completely digital registry for the possession and possession of commodities saved in UAE-based services, recorded a complete worth of AED1.63 trillion (US$445 billion), a 48% enhance over 2021.
Important milestones have been achieved for DMCC’s newest grasp developed district, Uptown Dubai, with Uptown Tower set for completion and handovers in 2023. Investor confidence within the mission, DMCC and Dubai have been additional demonstrated by means of the profitable pre-leasing of all 22 flooring of Grade A business places of work.
Because the grasp developer of Jumeirah Lakes Towers (JLT), DMCC continued to roll-out a collection of initiatives aimed toward enhancing the group to additional its standing as a world-class vacation spot to reside, work and go to.
This included a mission for all automobile park sunshades to get replaced with photo voltaic panel shades, leading to a saving of seven,612 MWh power annually, in addition to basic group enhancements and the launch of varied sports activities and wellness services.
DMCC continued to advertise Dubai as a first-rate vacation spot for overseas direct funding (FDI) throughout 2022, conducting roadshows bodily and on-line in 21 markets internationally.
Highlighting the alternatives within the emirate, 15 Made For Commerce Dwell occasions have been held in 10 totally different international locations, alongside seven digital occasions, attracting a complete of 217 high-level attendees.
DMCC additionally launched the fourth version of its Way forward for Commerce report, offering key suggestions for governments and companies internationally to advance world commerce. The report was downloaded virtually 200,000 occasions following its launch in early July.
In recognition of its continued efforts to reinforce its enterprise ecosystem, DMCC was named World Free Zone of the Yr by the Monetary Instances’ fDi Journal for the eighth consecutive yr.
DMCC was additionally recognised for its assist for multinationals and SMEs, in addition to its work in areas reminiscent of sustainability and social impression, with awards reminiscent of Massive Tenant Free Zone of the Yr – World, SME Free Zone of the Yr – Center East, and an Excellence Award for ESG Practices – World, amongst others.
