DMCC Awarded ‘Global Free Zone of the Year’ for a Record Fifth Consecutive Year

Press release
Published October 14th, 2019 - 04:34 GMT
Highlights
has been awarded Global Free Zone of the Year 2019 by Financial Times’ fDi Magazine for a record fifth consecutive year.

DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has been awarded Global Free Zone of the Year 2019 by Financial Times’ fDi Magazine for a record fifth consecutive year. DMCC also received awards titled: Global Free Zone of The Year for SMEs; Middle East Free Zone of The Year; and Middle East Free Zone of The Year for SMEs.

Claiming seven awards in total, DMCC was also the recipient of The Thought Leadership Award in recognition of its The Future of Trade report, the DMCC Knowledge Series (an exclusive, members-only programme of business-related lectures, workshops and seminars), and its international engagement strategy that promotes Free Zones as an economic concept.

fDi judges also selected DMCC for the Marketing Slogan Award in recognition of its Made for Trade tagline, and The Expansions Award in acknowledgement of a number of DMCC member companies deciding to expand their operations within the Free Zone in 2018.

“DMCC has worked tirelessly over the years to create a marketplace that removes barriers to trade, and enables others to do business. Customer centricity is at the core of our approach, and today we are proud to help over 16,000 companies grow their enterprise,” Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC. “To be officially recognised as the number one Free Zone in the world is something special, and suggests that our strategy is working. Looking ahead, we will continue to enhance the commercial ecosystem we provide, and continue to deliver for all of the ambitious companies within it,” he added.

This latest set of awards recognises the important role DMCC plays in the UAE’s diversification strategy, and its contribution to national economic growth. DMCC’s first-class infrastructure, products and services have attracted significant foreign direct investment to Dubai over the last 10 years, helping position the emirate as a globally leading commodities trade hub. Trade conducted through Dubai Free Zones has been the biggest contributor to the emirate’s increase in total trade in the first half of 2019, accounting for AED 286.8 billion (USD 78.1 billion).

“DMCC's continued success in our rankings is testament to its dynamic, innovative and forward-thinking approach, which has helped it keep up momentum even in the face of ever increasing competition. We applaud DMCC and its management for this achievement,” said Courtney Fingar, Editor-in-chief, fDi Magazine.

A total of 85 Free Zones from across the globe were nominated in the 2019 competition and were assessed against a comprehensive range of criteria including the evaluation of services, products and facilities available, in addition to initiatives on offer to investors.

The DMCC Free Zone added over 1800 new members in 2018, and almost 1000 in the first half of 2019. DMCC has delivered an annual average growth rate nearly 30% in the last 10 years.

Offering a hassle-free route to setting up a business in the heart of Dubai with 100% ownership, DMCC is home to over 16,000 member companies and registers an average of seven new companies a day. Strategically located in Jumeirah Lakes Towers (JLT), DMCC is minutes away from the emirate’s major airports and seaports, providing companies with swift access to the fastest-growing markets in Africa, the Middle East, Asia and beyond as well as the important markets of the West.

Background Information

Dubai Multi Commodities Centre Authority

DMCC is a government entity established in 2002 to enhance commodity trade flows through Dubai. We perform a range of roles which continue to position Dubai as the preferred destination for global commodities trade and DMCC as the world’s No.1 Free Zone.

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