DMCC Witnesses 17% Year-to-Date Increase in Turkish Company Registrations

DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has successfully concluded its Made For Trade Live (MFTL) roadshow in Türkiye, hosting Turkish business leaders in Istanbul to showcase Dubai's unique business environment and the opportunities to expand their businesses internationally through Dubai and DMCC. DMCC is now home to 570 Turkish businesses after seeing 17% growth in the year-to-date.

Türkiye represents a strategic market for DMCC as it looks to build on the UAE-Türkiye CEPA that was signed earlier this year. The CEPA aims to boost bilateral trade between both nations from USD 10 billion in 2022 to USD 40 billion by 2028.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said:

“The UAE and Türkiye are closer now than ever before, driven by key strategic decisions from our leaders including the recently agreed CEPA and last year’s currency swap deal that have catalysed major trade and investment flows – from energy and technology to real estate and critical infrastructure. The opportunities to expand on this relationship are there for the taking, including a further USD 40 billion under the CEPA in the next five years."

He continued:

“DMCC is already the natural home for many of Türkiye’s key sectors, with almost 600 Turkish companies and over 2,100 Turkish citizens living and working in our business district today. Reflecting 17% year-to-date growth in Turkish members, I firmly believe there has never been a better time for Turkish businesses to expand through Dubai.”

The event, which was held in partnership with Tamimi Consulting, saw senior DMCC executives brief 150 Turkish business leaders from various sectors on the ease of doing business in Dubai through DMCC, one of the world's most interconnected business districts. DMCC is currently home to over 570 Turkish businesses operating in energy, food/agri and construction.

DMCC’s Made for Trade Live series plays a key role in promoting Dubai as a prime destination for foreign direct investment (FDI), accounting for 11% of Dubai’s FDI. DMCC attracted a record-breaking 3,049 new companies to the free zone in 2022 and 1,456 new companies in the first half of 2023, bringing the total number to over 23,000 member companies, from large multinationals through to SMEs and entrepreneurs.

News Source: Emirates News Agency