DMCC, recognized as the world’s leading free zone and authorized by the Government of Dubai for commodities trade and enterprise, has reasserted its commitment to attracting increased Foreign Direct Investment (FDI) from the United Kingdom. This reaffirmation took place during the ninth installment of its global trade roadshow, Made For Trade Live, held in London.
The event served as a platform for DMCC to showcase its offerings and opportunities to potential investors from the UK. The focus was on fostering stronger economic ties and encouraging foreign businesses to consider Dubai as an attractive destination for investment and trade.
DMCC’s Made For Trade Live event in London aimed to highlight the advantages and incentives offered by the free zone, emphasizing its strategic location, business-friendly environment, and robust infrastructure. The organization actively promoted Dubai as a thriving hub for global trade and a gateway for businesses looking to expand their operations.
This reaffirmation of attracting FDI from the United Kingdom aligns with broader strategy to strengthen its position as a key player in the global commodities trade and enterprise sector. The event in London showcased the ongoing efforts and initiatives taken by DMCC to create a conducive and attractive business ecosystem for international investors, fostering mutual growth and collaboration between Dubai and the UK.
Bilateral trade between the UK and the UAE experienced a remarkable year-on-year growth of 47.3%, reaching GBP 25.5 billion (AED 119 billion) in the four quarters leading up to the end of Q2 2023. Concurrently, presented a diverse array of growth opportunities for British businesses, encouraging them to establish a presence in Dubai and capitalize on some of the world’s rapidly expanding markets.
In the year 2023 alone, more than 200 British companies became part of DMCC’s business district, contributing to a total of 2,080 companies and reflecting a substantial 10% year-on-year growth. This influx of British businesses underscores the attractiveness of Dubai and DMCC as a preferred destination for international companies seeking to tap into the dynamic markets of the Middle East. The significant increase in bilateral trade between the UK and the UAE further solidifies the mutually beneficial economic relationship between the two nations.
Ahmed Bin Sulayem, the Executive Chairman and Chief Executive Officer of DMCC, highlighted the organization’s significant achievements and strategic advancements over the past year. He emphasized the continuous enhancement of DMCC’s value proposition, incorporating substantial structural changes to the business district and successfully attracting elevated levels of Foreign Direct Investment (FDI) to Dubai.
In the preceding 12 months, experienced robust growth, welcoming an impressive intake of 2,700 new companies. Notably, among them were 200 British companies, underscoring the international appeal of DMCC and Dubai as a thriving business hub. The growth extended across various ecosystems, with particular prominence in DMCC’s crypto and gaming centers. Furthermore, Bin Sulayem mentioned the imminent launch of the AI Centre, adding a new dimension to the organization’s offerings.
Recognizing the importance of infrastructure investments to meet escalating demand, inaugurated its new headquarters at Uptown Tower in the previous year. This development included 22 floors of Grade A office space dedicated to DMCC members. Uptown Tower represents the first of nine planned commercial and residential towers that will adorn the Uptown Dubai district, contributing to the overall expansion and modernization of Dubai’s business landscape. Bin Sulayem’s statements underscore DMCC’s commitment to fostering growth, innovation, and excellence in its role as a global business facilitator.
The event took place at the Arab British Chamber of Commerce, organized in collaboration with the Embassy of the United Arab Emirates in London. Senior executives from DMCC took the stage, presenting to an audience of 160 business leaders spanning diverse sectors. The focus of the briefing was to elucidate the seamless business environment offered by Dubai through DMCC, renowned as one of the world’s most interconnected business districts.
During the session, attendees received comprehensive insights into the ease of conducting business in Dubai, leveraging the strategic advantages provided by DMCC. The discussion delved into Dubai’s remarkable resilience amidst global economic challenges, emphasizing its low inflationary environment and business-friendly policies. These factors collectively solidify Dubai’s standing as a prominent international business hub.
The event provided a platform for meaningful exchanges between industry leaders and DMCC executives, fostering a deeper understanding of the unparalleled opportunities and advantages that Dubai and DMCC offer to businesses across various sectors. The collaborative efforts of the Arab British Chamber of Commerce and the Embassy of the United Arab Emirates in London underscored the commitment to strengthening bilateral business ties and promoting Dubai as an attractive destination for international investment and trade.
DMCC’s Made for Trade Live roadshows serve as a pivotal platform in accentuating Dubai’s status as a premier business destination. These roadshows are instrumental in spotlighting Dubai’s distinctive value proposition, particularly in attracting Foreign Direct Investment (FDI) to the emirate. Notably, DMCC contributes significantly to Dubai’s annual FDI inflows, accounting for 11% of the total.
In the year 2023, DMCC achieved a noteworthy milestone, recording its second-best performance by welcoming almost 2,700 new companies to its dynamic business district. This impressive influx of new enterprises underscores the appeal and attractiveness of DMCC as a global business facilitator. The free zone has become a thriving ecosystem, currently housing over 24,000 businesses from various corners of the world.
The Made for Trade Live roadshows play a crucial role in not only showcasing the opportunities available within DMCC but also in reinforcing Dubai’s position as a strategic and lucrative hub for international business. The substantial contribution of DMCC to Dubai’s FDI landscape reflects its commitment to fostering economic growth, innovation, and global collaboration