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Dubai, January 9 / The Dubai Multi Commodities Center – the world’s leading free zone and the authority of the Dubai government concerned with the trade of goods and projects – announced that it will attract 3,049 new companies to Dubai during the year 2022.
With the number increasing by 23% on an annual basis, the center has broken the previous record recorded in 2021, when it registered 2,485 new companies.
This record growth is attributed to the great demand witnessed by the center from international markets, the continued strong momentum of its activity in the major commodity sectors, and the increasing demand from blockchain companies and Web 3 technologies for office space in the center of the center, as the number of member companies registered in the center of the crypto now increased to more than 500 companies. The center’s continued commitment to promoting the ease of establishing and doing business in Dubai has had a significant impact on supporting strong growth in the aforementioned areas.
Ahmed Bin Sulayem, Chief Executive Officer and Executive Director of the Dubai Multi Commodities Center, said: “With the support of the strong regional economic recovery, the center worked efficiently during the year 2022 to accelerate the implementation of its ambitious growth strategy, focusing on providing all possible forms of support to enhance the growth and prosperity of its member companies operating in Promising and high-impact sectors such as Web 3 technologies, blockchain, commodities and global trade. The unprecedented performance recorded by the center in the past year reflects the acceleration of its business growth and highlights the great value that DMCC adds to each member company registered in it.”
He added, “I often look at the number of new companies registered with us as a measure of commercial activity and foreign direct investment in Dubai. Thus, these records that we achieved in the past year show the growing confidence of investors in the emirate’s economy and the increasing opportunities that Dubai offers to everyone who aspires to growth and prosperity.”
For her part, Ferial Ahmadi, Chief Operating Officer of DMCC, said: “The center’s significant annual increase of 23% in the number of new companies registered in it, to reach 3,049 new companies during 2022, raises the ceiling of its ambitions for growth. And in light of the presence of a number of Important new projects under implementation and the continuous dedication of all members of the DMCC team, I am confident of our ability to continue this growth momentum during 2023. During the new year, we look forward to consolidating the strong position and reputation of DMCC by enhancing its services, developing its offers and building new partnerships in all over the world, which ultimately contributes to attracting new trade flows through Dubai.”
And as today’s Blockchain and Web 3 technologies continue to create increasingly positive economic and social impacts across all sectors and industries, the DMCC’s Crypto Center has witnessed rapid growth in 2022 as it currently houses more than 500 companies, making it the largest gathering of crypto and blockchain companies in the world. Region.
The center has partnered with global venture capital firm Brink to facilitate DMCC’s Crypto Center members’ access to $150 million in funding from the Brink Accelerator Fund. This important partnership will support the rapid growth of blockchain technology development companies. And Web 3 in the long term, and will add more momentum to the value-added services provided by the “Crypto” center.
In a reflection of its endeavor to harness advanced technology in order to promote commodity trade and add value to this joint system, the center has partnered with “Safe Gold” and “Comtec Gold” to mark gold bars in storage facilities in the United Arab Emirates. Each gold bar will be backed by a guarantee from the platform ” Tradeflow from the Dubai Multi Commodities Center, which means greater ease in trading digital assets and the advantage of additional security, transparency and linking to real assets with the guarantee of Tradeflow.
The Dubai Diamond Exchange – the world’s largest diamond auction facility – has also seen strong demand from companies hosting diamond and gemstone auctions.
Dubai is one of the world’s leading centers for the trade in rough and polished diamonds and continues to strengthen its position in the fields of colored gemstones and lab-grown diamonds. Thanks to its pioneering contributions to the advancement and development of the sector, the UAE was nominated to chair the Kimberley Process for the year 2024, after assuming the position of Vice President in 2023. The Dubai Multi Commodities Center continues to be the official partner for the second edition of the Dubai Jewelery, Gemstones and Technology Exhibition, which will be hosted by Dubai next February. The annual conference of the International Society of Colored Gems during the same month.
The tenth edition of the “Dubai Precious Metals Conference” witnessed wide participation in the presence of hundreds of leaders of the precious metals sector from around the world to discuss the most important challenges and opportunities currently existing in the gold and precious metals sector.
DMCC’s Tea Center has processed more than 42,000 metric tons of loose tea and a total of 8,200 metric tons of value-added packaged tea, including around 400 million tea bags. This represents an increase of 27% compared to 2021, and thus the tea center set a new record in terms of the total quantities of tea handled by the center.
The Coffee Center has stored and processed more than 4,000 metric tons of green and roasted coffee from a wide range of producing markets across Central and South America, Asia and Africa.
The center saw 57 new members join during the year, demonstrating the great value the facility adds to the global coffee supply chain. The Coffee Center has also supported the global coffee industry by hosting a range of events, including the first coffee roasting championship in the Middle East and the UAE Championship.
