DMCC Welcomes Over 500 Italian Companies, Strengthening Economic Ties with Italy

The Dubai Multi Commodities Centre (DMCC), the world’s flagship free zone and the Government of Dubai Authority on commodities trade, has proudly announced a milestone of over 500 Italian companies now operating within its jurisdiction—a 6% increase since the start of the year.

This announcement coincided with the successful conclusion of DMCC's Made For Trade Live (MFTL) roadshow in Milan and Rome, focusing on sectors such as precious stones, jewellery, luxury, and fashion. The events highlighted the myriad opportunities for Italian businesses to expand their global footprint through Dubai, as both the UAE and Italy seek to enhance their economic relationship.

The recent uptick in trade between the two nations has been significant, with bilateral trade exceeding USD 9 billion in 2023. This growth solidifies the UAE’s position as Italy's largest trading partner in the Arab world, showcasing the UAE's attractive business environment characterized by outstanding infrastructure and a robust regulatory framework.

Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, stated,

“With nearly USD 9 billion in bilateral trade, our relationship is strengthening rapidly. Italian companies are attracted to DMCC's business-friendly regulations, world-class infrastructure, and competitive 9% corporate tax rate. We anticipate welcoming even more Italian firms in the coming years as our trade and investment ties continue to flourish.”

The MFTL events were held in partnership with key organizations, attracting around 180 business leaders who learned about the advantages of operating in Dubai. DMCC’s ongoing roadshow program plays a vital role in positioning Dubai as a premier business destination, contributing significantly to the emirate's foreign direct investment. In 2023, DMCC welcomed nearly 2,700 new companies, bringing its total to nearly 25,000 businesses worldwide.

News Source: Dubai Media Office