Dubai to establish metal and commodity free zone
The government of Dubai recently announced the establishment of the Dubai Metals and Commodities Center (DMCC). The new free zone will be the location of a full range of facilities for trading in gold, diamonds and key commodities, stated a press release.
DMCC will offer 100 percent ownership and a 50-year tax holiday to resident companies. The facility will offer a full service to those organizations involved in gold trading with physical trading facilities, storage and hallmarking as well as package and delivery facilities available on-site. Three refineries will also be housed within the complex.
Trading facilities, a convention center, a training center and a gems lab will be available to DMCC resident companies in the diamond trade while the commodities industry will be provided with world-class trading, storage and logistics facilities. — (menareport.com)
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