The government authority on trade, enterprise and commodities in Dubai, DMCC announced that its member companies surpassed the 12,000 mark last month.
The number of corporations registered to trade within the DMCC free trade zone last year grew to more than 11,500, an increase of 18% by the end of 2015, showing no signs of decline strong growth continued in 2016 with more than 12,000 companies signed up by the second quarter.
DMCC has stated that on average it welcomed seven new member companies daily last year, reinforcing it as the largest and fastest growing free zone in the UAE. Cementing its position as the Best Free Zone in the World, an honour received at the Financial Times fDi Magazine Global Free Zone of the Year Awards in 2015.
Additional major triumphs included the launch of the first Google for Entrepreneurs Global Tech Hub with AstroLabs in the Middle East, Dubai and record-breaking trading volumes of over 14.5 million contracts on the DGCX.
Executive chairman of DMCC, Ahmed Bin Sulayem stated: “We are extremely proud of our performance in 2015 and making DMCC a home for over 12,000 companies…We celebrate this achievement, as the largest Free Zone in the UAE and global Free Zone of the year, together with all of the member companies who have come to Dubai and DMCC to pursue business opportunities in a truly global and connected marketplace”
Presently DMCC is home to many international industry leaders including: Alcatel Lucent Middle East and North Africa, Dyson, Duracell, Bvlgari, American Express, Carrera Y Carrera, Colgate-Palmolive, Eurofin, Hagan Agro, John West Foods, Louis Dreyfus, Lukoil, LVMH, Nutricia Danone, Oddfjell, Olam International, Tata International, TAG Worldwide, Topaz Energy and Marine, and Whirlpool.
To mark the DMCC 12,000 member company milestone, the free trade zone also launched a series of online member company profiles that displays why many of the world’s leading business choose the Free Zone DMCC.
Chief Executive Office, DMCC, Gautam Sashittal, said: “We are delighted that businesses around the world recognise DMCC as the destination of choice. Sitting at the epicentre of global commerce, we are passionate about delivering new and sustainable marketplaces for our over 12,000 Free Zone member companies whilst continuing to bring the physical, financial and digital infrastructure they need to operate efficiently and trade with confidence.”
DMCC Free Zone also launched and produced a distinctive report in conjunction with Futureagenda.org and the Centre for Economics and Business Research (Cebr), a leading UK economics consultancy on ‘The Future of Trade’, which gives a view on how ‘The Future of Trade’ will develop over the next 10 years, building on insights shared by 150 experts, over five continents over a year.
The DMCC Free Zone currently stands at 66 completed mixed-use towers including 92 educational establishments, five hotels and over 500 outlets across DMCC’s Jumeirah Lake Towers (JLT).