DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, has been awarded Global Free Zone of the Year 2020 by Financial Times’ (FT) fDi Magazine for a record sixth consecutive year.
DMCC also received the award for Middle East Free Zone of the Year.
A total of 100 free zones entered the competition, including a high concentration of peers in the Middle East region. Candidates were assessed against a range of criteria including growth rate, services, products and facilities available and importantly, the launch of new key initiatives supporting companies in the free zone.
The awards were judged by the Financial Times’ specialist editorial team and a panel of independent judges for each region. With increased competition year-on-year, the accolade is testament to DMCC’s continued commercial appeal and ability to attract businesses of all sizes to its Jumeirah Lakes Towers (JLT) community.
In celebration of the award, DMCC has also announced that it will extend its Business Support Package for existing and new members until December 31, 2020.
The Business Support Package offers a range of discounts to support business, reduce cost and safeguard operations against the impact of Covid-19. DMCC is set to announce further promotions in due course.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC said:
“In 2002, DMCC set out to create an innovative business hub like no other in the heart of Dubai. Subsequently, we developed a commercial ecosystem for trade that welcomed forward thinkers from around the world and provided the support and services required to take their enterprises to the next level.
I am proud of all those who have contributed towards our success over the past 20 years, and grateful to the 18,000 companies now based in our Jumeirah Lakes Towers community for placing their trust in our vision.
Receiving this prestigious award for a sixth time is a special moment for everyone connected to DMCC. 2020 has placed immense pressure on us all, but this award reassures us that we are on the right track. By working together and constantly striving for higher standards, we have come to embody Dubai’s hard work and ambition as a global centre for trade that embraces all businesses that share our vision.”
With a dedicated Chinese Business Centre, and a highly focused marketing outreach programme in Mandarin, DMCC’s track record of attracting Chinese businesses to Dubai was key to its successful submission. Judges also cited DMCC’s supportive approach to entrepreneurs and small and medium sized enterprises (SMEs).
Together with its 18,000 member companies 1,969 registering in 2019 alone, and a record 210 in September 2020, DMCC contributes roughly 10 per cent to Dubai’s GDP. By enabling the trade of various commodities, including gold, diamonds, tea and coffee, DMCC also plays a major role in the UAE’s diversification strategy.
Ahmad Hamza, Executive Director – Free Zone, DMCC, said:
“We strive to provide our member companies with the best environment for them to operate their business and thrive. Our focus has always been to increase the ease of doing business and provide a seamless customer experience, and this has once again been recognised by the Financial Times’ fDi Magazine.”
– TradeArabia News Service
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