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DMCC (Dubai Multi Commodities Centre) has been named a Global Free Zone 2022 by the Financial Times’ fDi Magazine for the eighth consecutive year.
The award, one of the most prestigious honours a Free Zone can receive, is determined by the Financial Times’ expert editorial team and a panel of independent judges based on a comprehensive set of criteria and scrutiny of the Free Zone ecosystem.
The methodology focuses on metrics that demonstrate core growth in Free Zones, including the addition of small and large tenants, and how effectively each Free Zone is delivering a growth-supporting ecosystem and related initiatives, business and marketing strategies, infrastructure improvements, Covid-19 response and promote sustainability.
trading center
DMCC reflects the leading business districts and trade centres created by DMCC (World Flagship Free Zones and the Dubai Government Commodity Trade and Enterprise Authority) for businesses of all sizes, as well as its focus on sustainability and social impact, DMCC has also been awarded :
• Large Tenant Free Zone of the Year – Worldwide
• Large Tenant Free Zone of the Year – Middle East
• Middle East Free Zone of the Year
• SME Free Zone of the Year – Middle East
• ESG Practice Excellence Award – Global
• Infrastructure Development Excellence Awards – Global
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, said: “Since the establishment of DMCC in 2002, we have had two core goals – to create a global trade gateway and to enhance the overall The ease of doing business for our member companies. This simple but critical strategy has laid the foundation for our extraordinary growth, which is why our business district is now home to over 21,000 global businesses of all sizes and industries. As we continue Accelerating growth and breaking performance records across all our business verticals, I would like to thank the Financial Times’ FDI magazine for once again recognizing DMCC’s achievements on the global stage.”
record breaking performance
In 2021, DMCC achieved its best performance since inception, attracting 2,485 new businesses from markets including China, India, the UK and the US. That momentum continued into 2022, with DMCC having its best first half in history, attracting 1,469 companies, bringing the region’s total to 21,000.
Driving these record numbers are two key elements of DMCC’s strategy: improving the ease of doing business for companies in the business district, enabling them to trade with efficiency and confidence, and providing the right infrastructure and services to make Dubai a global gateway. trading.
world class community
DMCC has also been recognized for extensive upgrades and improvements in its commercial precinct, Jumeirah Lakes Towers (JLT), to further enhance the community’s status as a world-class destination to live, work and travel. This includes a project to replace all car park sunshades with solar panel sunshades, resulting in annual energy savings of 7,612 MWh.
DMCC has also introduced a range of new sports and wellness facilities, as well as landscaping and façade improvements throughout the area. More than 60,000 people work in the 87-tower business district JLT.
DMCC has also made significant progress in delivering its new flagship development, Uptown Dubai District. Construction of Uptown Tower, the region’s first supertall tower, is almost complete. The 22-storey office space in Uptown Tower is 100% pre-leased before construction of the building is complete, demonstrating the great confidence investors have in Dubai and DMCC.
Facilitate global merchandise trade
DMCC continues to enhance Dubai’s position as a leading hub for global merchandise trade.
Earlier this year, the DMCC convened the entire diamond industry for the Dubai Diamond Conference, where Ahmed bin Sulayem announced that the UAE is now the world’s largest trading hub for rough diamonds. DMCC also recently announced that in the first half of 2022, rough and polished diamond transactions in the UAE totaled $19.8 billion, a 25% increase year-on-year. Crucially, the UAE’s polished diamond sector recorded a record 52.5% growth in the first half of 2021, indicating that Dubai is emerging as the largest trading hub for rough and polished diamonds.
Meanwhile, the Tradeflow platform, the DMCC’s electronic commodity registry, recorded AED 746 billion ($203 billion) in trading volume in the first half of 2022 – the highest six-month volume on Tradeflow’s history.
DMCC Tea Centre and DMCC Coffee Centre also delivered strong results, with a combined tea and coffee production of 30,539 metric tonnes in the first half of 2022. The tea and coffee industry is increasingly turning to DMCC because of its world-class facilities, including excellent logistics and processing support for all stages of the value chain, reducing middlemen and providing more benefits to farmers, producers and consumers alike. high value.
Global focus on cryptocurrencies
As a comprehensive ecosystem for the development and operation of blockchain and other crypto technologies, the DMCC Crypto Center has received a lot of attention since its launch in mid-2021. This growth continues through 2022, with 14% of new company registrations related to crypto activity in the first half. The Crypto Center now houses 450 crypto businesses, representing the largest crypto ecosystem in the region.
The Crypto Hub provides a venue for crypto businesses of all types and sizes, from companies developing blockchain-enabled platforms, NFT and Metaverse environments, to companies trading crypto assets. arab trade news agency
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