Dubai Multi Commodities Centre (DMCC) achieved its “best-ever” 12 months for brand spanking new member firm registrations, attracting 3,049 new companies to Dubai in 2022.
This marks a year-on-year improve of 23 per cent, breaking the earlier report set in 2021 when DMCC registered 2,485 new members.
Components driving the expansion included worldwide demand, the freezone’s continued work inside key commodities sectors, and the rising demand from blockchain and web3 companies for house on the DMCC Crypto Centre. The Crypto Centre is now residence to greater than 500 corporations.
Ahmed Bin Sulayem, govt chairman and CEO, DMCC, mentioned: “Backed by a robust regional macroeconomic panorama, DMCC has been effectively accelerating its development technique all through 2022, specializing in supporting its member corporations in high-impact sectors comparable to web3 and blockchain applied sciences, commodities and international commerce. The unprecedented efficiency this 12 months displays this development acceleration and highlights the numerous worth that DMCC provides to every of its members.
“I typically view our member firm registrations as a barometer for industrial and FDI exercise in Dubai – these record-high numbers show burgeoning investor confidence within the emirate and the rising variety of alternatives that Dubai presents.”
Feryal Ahmadi, COO DMCC, added: “With numerous thrilling new initiatives within the pipeline and the unwavering dedication of the whole DMCC group, I’m assured that we are able to carry this momentum ahead into 2023. Subsequent 12 months will see DMCC construct on its place of energy by additional enhancing its providers and choices and forging new partnerships throughout the globe, all with the final word goal of driving new commerce flows by means of Dubai.”
DMCC has introduced its best-ever 12 months attracting 3,049 new companies to #Dubai in 2022. Breaking the 2021 report with a rise of 23%, the expansion highlights DMCC’s continued efforts inside #blockchain, #web3 and key #commodities sectors. Learn extra: https://t.co/ZFWBvtiVMo pic.twitter.com/zDcx56wGuO
— DMCC (@DMCCAuthority) January 9, 2023
Highlights of DMCC’s efficiency
Blockchain and web3: The DMCC Crypto Centre represents the most important focus of crypto and blockchain corporations within the area.
The centre partnered with international VC agency Brinc to offer its members with entry to their $150m accelerator fund. Brinc is a portfolio firm of Animoca Manufacturers, a world chief in web3 and blockchain funding. The partnership helps the long-term and fast development of the businesses that develop web3 and blockchain applied sciences and related value-added providers on the centre.
Learn: DMCC Crypto Centre, VC agency Brinc to offer members entry to $150m accelerator fund
DMCC additionally partnered with SafeGold and ComTech Gold to tokenise gold bars based mostly in UAE amenities. 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.
Learn: Dubai’s DMCC digitises gold buying and selling in partnership with ComTech Gold
International commodities commerce: The Dubai Diamond Alternate (DDE), the world’s largest diamond tender facility, noticed sturdy demand from corporations internet hosting tenders and auctions of diamonds and treasured stones. Dubai is without doubt one of the main commerce hubs for each tough and polished diamonds and is rising in prominence for colored gem stones and lab-grown diamonds as properly.
Learn: UAE turns into world’s largest tough diamond buying and selling hub
The UAE was additionally nominated because the Kimberley Course of Chair in 2024, offering help as Vice Chair in 2023. DMCC continues to be the official associate of the second version of the Jewelry Gems & Know-how (J in February) and can be internet hosting the Worldwide Coloured Gemstone Affiliation (ICA) Congress in February.
The DMCC Tea Centre dealt with over 42,000 metric tonnes of bulk tea final 12 months, 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 per cent improve from 2021 and is a brand new report for the Tea Centre for the amount 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 welcomed 57 new members within the 12 months.
The DMCC Espresso Centre additionally supported the trade by internet hosting a variety 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 amenities, recorded a complete worth of Dhs1.63tn ($445bn), a 48 per cent improve over 2021.
Uptown Tower and the JLT Neighborhood: Uptown Dubai, with Uptown Tower set for completion and handovers this 12 months. Investor confidence within the undertaking was demonstrated by means of the profitable pre-leasing of all 22 flooring of Grade A industrial workplaces.
DMCC continued to roll out a sequence of initiatives aimed toward enhancing the choices of the JLT group. This included a undertaking for all automobile park sunshades to get replaced with photo voltaic panel shades, leading to a saving of seven,612 MWh power every year, in addition to normal group enhancements and the launch of assorted sports activities and wellness amenities.
Commerce and FDI: DMCC continued to advertise Dubai as a major vacation spot for overseas direct funding (FDI) throughout 2022, conducting roadshows bodily and on-line in 21 markets the world over. Highlighting the alternatives within the emirate, 15 Made For Commerce Dwell occasions have been held in 10 completely 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 the world over to advance international commerce. The report was downloaded virtually 200,000 instances following its launch in early July.
