The Dubai Multi Commodities Center (DMCC), which is affiliated with the Government of Dubai, has been awarded the `` Best Free Zone in the World 2019 '' by the Financial Times magazine's FDI for the fifth consecutive year.
Other awards include the 'Best SME Free Zone of the Year' award, 'Best Middle East Free Zone of the Year' and 'Best Middle East Free Zone for SMEs of the Year'.
In total, the Center has received seven prestigious awards from the world's leading magazine, including the 'Intellectual Leadership' award in recognition of its outstanding role in supporting the global trade sector through its report entitled 'The Future of Trade' and 'Knowledge Chain of DMCC', a program of seminars, lectures and workshops. Working exclusively for the members of the Center, in addition to the Center's global strategy to communicate and interact with stakeholders to promote free zones as a leading economic concept.
The Dubai Multi Commodities Center (DMCC) awards jury awarded the DMCC Award for the 'Logo for Marketing' for its outstanding logo, 'Found for Trade' and 'Expansion', in recognition of a number of registered companies expanding their operations within the Free Zone in 2018.
Ahmed Bin Sulayem, Chief Executive Officer and Chief Executive Officer of DMCC, said: “We have worked tirelessly at DMCC in recent years to build a market that removes barriers, liberalizes trade and makes it easier for businesses to do business. Our selection of the best free zone in the world is a remarkable achievement that confirms the success of our strategy.In the future, we will continue to develop and strengthen the integrated business system that we have established and continue to provide to all ambitious companies registered to Lena ".
The awards are a tribute to the pivotal role that DMCC plays in achieving the objectives of the UAE's economic diversification strategy and contributing to the growth of the national economy thanks to its world-class infrastructure, products and services that have attracted foreign direct investment to Dubai. The past ten years have established the emirate's position as the world's leading hub for commodity trade.
Trade across Dubai's free zones accounted for the largest contribution to the overall trade growth in the emirate during the first half of 2019, contributing AED 286.8 billion (US $ 78.1 billion).
Courtney Fingar, Editor-in-Chief of the FDI magazine, said: “DMCC's continued achievements and success in our annual ranking reflect the dynamic and innovative approach and ambitious vision of the DMCC, which has enabled it to continue its successful journey in the face of intense competition. On this occasion we would like to commend the efforts of the Center and congratulate its management on this achievement. ”
The Center received the prestigious award after a strong competition with 85 free zones from around the world nominated in 2019, where the competitors were ranked and evaluated based on a stringent set of performance criteria, which includes the evaluation of services, products and facilities as well as initiatives and programs offered to investors.
It is worth mentioning that in 2018, the center received more than 1800 new companies and about 1000 new companies during the first half of 2019, achieving an average annual growth rate of nearly 30% during the past ten years.
DMCC provides an easy and streamlined route for anyone wishing to establish a business in the heart of Dubai and own 100% ownership. Today, the center houses more than 16,000 registered companies and 7 new companies are registered each day. Strategically located in Dubai, Jumeirah Lakes Towers is minutes away from the emirate's major airports and seaports, providing companies with easy access to the fastest growing markets in Africa, the Middle East, Asia and beyond, as well as the most prominent Western markets.