DUBAI, 1st July, 2022 (WAM) — The Dubai Multi Commodity Center, DMCC, recorded its best ever performance in the first half of the year, with 1,469 start-ups in the first six months of 2022. This represents an increase of 19%. compared to the same period last year.

In June alone, the DMCC welcomed 323 new businesses to its free zone and business district, its best monthly performance since its inception. After a record-breaking 2021 in which DMCC attracted 2,485 new members, DMCC now welcomes over 21,000 businesses.

DMCC’s continued growth is driven by strong demand from international markets including Europe, China and India, which demonstrates Dubai’s continued commercial attractiveness and ease of doing business and finding it in Dubai. DMCC. The growth was supported by continued interest in the DMCC Crypto Center and high trading volume for a range of commodities, primarily diamonds, tea and coffee.

DMCC’s Executive Chairman and Managing Director, Ahmed bin Sulayem, said: “DMCC has been striving relentlessly to enhance Dubai’s status as a center of business worldwide. This philosophy has helped us go from zero to 21,000 in just two decades. Having allowed more member companies to move in. By providing a hyper-connected community for commerce and constantly striving to improve our services, we work with our member companies towards further growth in the years to come. Will continue to work.”

“With our facilities and services, which truly represent the center of global commodity trade, DMCC continues to be an important partner for its members, with a significant positive impact on the emirate’s thriving economy,” he added.

DMCC continues to promote Dubai as a preferred destination for FDI by conducting road shows in six key markets, including the United Kingdom, Spain, Turkey, Poland, Brazil and Colombia, to highlight the opportunities offered by the emirate. Awareness programs have proven to be very effective, as 40% of new H1 companies are from Europe and South America. China and India remain the major target markets for the DMCC, as they account for 20% of the new members in 2022.

During the first half of 2022, the DMCC continued to strengthen Dubai’s position as a major center for global commodity trading. The volume of diamonds traded through the UAE totaled US$11 billion in the first quarter, a 36 per cent increase from the same period last year. The Polished Diamonds segment saw an 80% increase in trade value, while the Raw Diamonds business grew 20% year-on-year. Already the largest rough diamond trading center in the world, Dubai is currently striving to become the leading trading center for combined rough and polished diamonds.

Translated by: Gihane Fawzi.

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