DMCC Recognised As Global Free Zone Of The Year
This year, for a record fourth time in a row, Dubai Multi Commodities Centre (DMCC) was awarded the ‘Global Free Zone of the Year’ awarded by the Financial Times, fDi Magazine. Founded in 2003 by the Financial Times, fDi Magazine publishes an annual ranking system based on the current infrastructure, capabilities and incentives of regions and cities for attracting future inward investment.
In total there were 60 global free zones assessed for the 2018 award, which were ranked across an in-depth range of performance and industry-related criteria. In addition to being crowned the ‘Global Free Zone of the Year’, DMCC received further recognition by collecting the awards for ‘Middle East Free Zone of the Year’, ‘Middle East Free Zone of the Year for SMEs‘ and ‘Global Free Zone of the Year for SMEs’.
DMCC were recognised for its outstanding achievements in a further six categories: ‘Smart Strategies’, ‘China Strategy’, ‘Red Tape Reduction’, ‘Economic Impact’, ‘Thought Leadership’ and ‘Facilities Upgrade’.
Across 2017, DMCC added a total of 1,980 new members and an additional 1,000 members in the firsts 6 months of 2018. Over the past ten years, this has led to an average growth rate of over 30%. These impressive figures add further context to the ongoing success of DMCC, and illustrates why fDi continue to acknowledge its achievements. The unparalleled performance of the DMCC free zone area, makes this one of the most attractive inward investment opportunities in the world.
Why Businesses Are Moving To DMCC
For businesses looking for full ownership of their company and a fast and simple method of incorporating their service in Dubai, it’s easy to see why DMCC continues to grow faster than any other free zone in the world. Setting up business in DMCC also guarantees 100% capital repatriation, along with 0% personal and corporate income tax. Just as importantly, DMCC is still the only free zone in Dubai that allows you to work and live in the same district.
DMCC continues to expand its co-working space, with 15 centres now available to use. In 2017, almost 3,150 square metres of serviced offices and desks were also added. These have been designed specifically for use by SMEs, making working life in the zone much easier and flexible.
Both the Expo2020 airport and the Jebel Ali Port harbour are only a short distance away from DMCC, two of the major import and export hubs in the emirates. This is ideal for businesses who want to expand into other areas of the Middle East, or engage in new trade agreements with partners in Africa, Asia and the West.
Almost 100,000 people live and work in DMCC, which now features over 15,000 member businesses. For newcomers and established firms, there are a wealth of networking opportunities available that provide instant access to new and exciting global markets.