Out of the box

"Dubai Multi Commodities" ... an experience worthy of praise

Ismail Al Hammadi

February 09, 2021

When you open the official website of the Dubai Multi Commodities Center, you encounter this phrase "the world's first free zone", and then you encounter another phrase, "Join today for the best specialized free zone in the world."

When you open the Who We Are page, you will find the phrase "the fastest growing free zone in the world."

- "The incentives and digital transformation are the secret of the success of the DMCC experience in facing the effects of the pandemic."

Phrases and specifications that the center deserves in view of the results it has achieved since its establishment in 2002 until today, after it managed to attract more than 18 thousand local and international companies from about 170 countries, thanks to a systematic work policy that aims to be the fastest growing free zone in the world.

In 2020, at the height of the "Covid-19" pandemic, and the fear and hesitation it planted in the hearts of entrepreneurs and company owners, which negatively affected the performance of major companies and free zones in the world, DMCC was able to attract 2025 new companies, compared to 1969. New company in 2019.

At the beginning of this year, the center announced the registration of 268 new companies in January 2021 .. This achievement was not a coincidence, and did not come from a lack of, but rather is the juice of successive efforts, which were doubled in the year 2020, so that the center could contain the repercussions of the pandemic and provide an environment Safe for investment, in light of the intensity of fear that dominated global economic makers and companies by launching a package of incentives and services in March 2020, which included discounts and exemptions that reached 100% to support registered and new companies in the center.

On this point, the Center previously announced that 8,000 member companies benefited from more than 13,000 offers and incentives during the past year, so that the package of these facilities is the largest and first of its kind in the center’s history, and perhaps at the level of the whole region, during the most severe health and economic crisis to hit the world. .

Thanks to this, the center was able to break the barrier of fear, and to attract the largest number of companies, the highest in five years.

The Dubai Multi Commodities Center is just one of the models that have been able to turn the balance of power in its favor during crises. Many may think that the packages of facilities and exemptions proposed by the center have cost him a lot, but in reality they are on the contrary, as they have gained more than they have cost over the coming stages and years. , Which is an added value to his proven track record in supporting the Dubai investment environment.

It was a hope that restored life to the business environment in the Emirate of Dubai, and strengthened investor confidence in it, especially when it adopted the digital experience for doing business, and simplifying procedures for establishing companies remotely, as the latest statistics issued by the center indicate that 95% of new companies start their activities Digitally.

The incentives and digital transformation have been the secret of the success of the DMCC experience in facing the effects of the pandemic, and this is an experiment that deserves to be commended and well studied, to learn from it in the future.

In short, DMCC is one of the areas that has done well to jump on the rope of crisis, to take it to the next level.

To read the previous articles of the writer please click on its name.