DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – affirmed its goal of attracting greater levels of foreign direct investment (FDI) from the United Kingdom during the ninth edition of its global trade roadshow, Made For Trade Live, in London.
UK-UAE bilateral trade grew 47.3% year-on-year to reach GBP 25.5 billion (AED 119 billion) in the four quarters to the end of Q2 2023 whilst DMCC presented a range of other growth opportunities for British businesses to set up in Dubai and tap into some of the world’s fastest growing markets.
Over 200 British companies joined DMCC’s business district in 2023 alone, taking the total to 2,080, and representing a 10% year-on-year growth.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said:
“In the past 12 months we have continued to enhance DMCC’s value proposition, driving major structural changes to the business district and attracting new levels of FDI to Dubai. With an intake of 2,700 new companies last year, including 200 British companies, we have seen strong growth across our ecosystems and in particular in our crypto and gaming centres, whilst a new DMCC AI Centre is due to launch imminently. Investments in infrastructure are critical to absorbing such demand, and we opened our new headquarters of Uptown Tower last year, including 22 floors of Grade A office space for our members in the first of nine commercial and residential towers to crown Uptown Dubai district.”
The event was hosted at the Arab British Chamber of Commerce in partnership with the Embassy of the United Arab Emirates in London. Senior DMCC executives briefed 160 business leaders from various sectors on the ease of doing business in Dubai through DMCC, one of the world’s most interconnected business districts. The discussion shed light on Dubai’s resilience to global economic headwinds, its low inflationary environment and business-friendly policies, which have cemented its reputation as an international business hub.
DMCC’s Made for Trade Live roadshows play an influential role in showcasing Dubai as a prime destination for business. Through the series, DMCC highlights Dubai’s unique value proposition to attracting FDI to the emirate. DMCC accounts for 11% of Dubai’s annual FDI inflows and the free zone recorded its second best year on record in 2023 by welcoming nearly 2,700 new companies to the district. DMCC is now home to over 24,000 businesses from across the world.
News Source: Dubai Media Office