Big day for Dubai as the DMCC Free Zone takes home World’s No.1 Fee Zone status 3 years in a row
• DMCC Free Zone contributes 9.6 per cent to Dubai’s GDP, says Ahmed Bin Sulayem, Executive Chairman, DMCC
DMCC, the world’s leading Free Zone for trade and enterprise in Dubai, has been named 'World’s No. 1 Free Zone’ by Financial Times’ fDi Magazine, three years in a row. 60 global Free Zones were evaluated. The full Global fDi Free Zones report is available here.
Ahmed Bin Sulayem, Executive Chairman, DMCC, said: “Shaping the future of trade, DMCC and its member companies have emerged as a major contributor to Dubai’s economy with a GDP contribution of 9.6 per cent. Winning ‘Global Free Zone of the Year’ for the third year in a row is an honour and a tribute to the over 13,700 companies which make up the DMCC Free Zone and contribute to our success every day, driving the next wave of growth and innovation.”
Looking at its growth trajectory, DMCC has grown exponentially since its formation in 2002 and today has more than 13,700 member companies with 92,500 people from over 170 countries who live, work and thrive in its Jumeirah Lakes Towers district.
Gautam Sashittal, Chief Executive Officer, DMCC, said: “To be ranked number 1 out of 60 free zones around the world is a significant achievement and affirms that the DMCC Free Zone provides a truly connected marketplace enabling progressive companies to trade with confidence and grow their businesses.”
With seven new companies setting up a business every working day, DMCC is home to many of the world’s leading corporations including: Alcatel Lucent Middle East and North Africa, Carrera Y Carrera, Colgate-Palmolive, Duracell, Eurofin, John West Foods, Lukoil, LVMH, Nutricia Danone, Oddfjell, Rio Tinto-Dimexon and TAG Worldwide.
"Despite ever-tougher competition, DMCC continues to stand out from the crowd and is our choice as the world's top Free Zone for the third year running. DMCC's state-of-the-art facilities, which are being added to all the time, combined with its location at the heart of the world's most dynamic investment destinations, Dubai, and the vast array of services offered to its fast-growing list of member companies continues to make it an enviable site for investors to locate. But not content to rest on its laurels, DMCC is keeping at the forefront of technology and pioneering the use of electronic signatures and other services that save member companies time and hassle. We believe the already strong DMCC offer is becoming even more compelling through such developments and applaud the Free Zone's management for success in our awards," said Courtney Fingar, Editor-in-chief of fDi Magazine on behalf of the judging panel.
DMCC was also presented with Global and Middle East Free Zone of the Year for SMEs as well as a range of awards for Facilities Upgrades, Legal Support, Smart City Strategy, Red Tape Reduction and Thought Leadership.
The DMCC Free Zone added 2,016 new members in 2016 and over 600 in the first half of 2017. It has delivered an annual average growth rate of 33% in the last ten years.
In Dubai, more multinational companies were moving to the DMCC Free Zone than ever before. The development is strategically located in the heart of new Dubai, has a choice of 66 commercial and residential towers with over 600 retailers, all in close proximity to international airports and ports.
A market-maker for global trade and enterprise with a mandate to facilitate trade through Dubai and to connect new markets and more established markets, DMCC provides all of the products, services, physical and financial infrastructure business makers need to trade with confidence.
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