DMCC Reports 5.4% Growth in New Business Listings in 2019

DMCC Reports 5.4% Growth in New Business Listings in 2019

The Dubai Multi Commodities Center (DMCC), the fastest growing free zone in the world, recorded a 5.4% annual growth in new company registration in 2019 in 1969 and is now home to more than 17,000 businesses. DMCC, a government entity created for large multinationals and startups in 2002, ended 2019 with the strongest fourth-quarter records in four years. In total, 559 companies joined the free zone in the fourth quarter, an increase of 20% compared to the same period in 2018. This follows the registration of 202 new member companies in October 2019, the highest figure in one month for two years. “DMCC is a global trade hub and interconnected business district in the heart of Dubai. We added 2,000 companies from various backgrounds and sectors in 2019. The strong performance in 2019 is the result of listening to our member companies, constantly improving our services and expanding our engagement with business circles around the world," he said in a statement. statement Ahmed Bin Sulayem, Executive Chairman and CEO, DMCC New member companies include start-ups, SMEs and multinational companies from various industries, adding to the diverse business ecosystem that DMCC has built within its Jumeirah Lakes Towers community ( JLT).More than 100,000 people live, work and prosper in JLT, where everyday life is transformed by DMCC's smart neighborhood solutions.Bin Sulayem said DMCC continues to attract foreign direct investment to Dubai from major international markets, including China and India "We look forward to welcoming more companies in 2020 and increasing our contribution to Dubai's GDP and the broader strategy of national economic diversification," he said.