Dubai Multi Commodities Centre attracted over 3,000 companies in 2022
The total number of businesses in the region now touches over 22,000.
The Dubai Multi Commodities Centre (DMCC) announced in its official blog that it has attracted over 3,049 new businesses to Dubai in 2022. It stated that it has now achieved its best year ever for new member registrations. The free zone stated an increase of 23% year-on-year.
In 2021, DMCC recorded registrations of 2,485 new businesses.
In the blog post, Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC said the DMCC has been accelerating its growth strategy in 2022. This has also been backed by a strong regional macroeconomic landscape. The DMCC, he said, has been focusing on supporting its member companies in high-impact sectors like blockchain technologies, global trade, and commodities.
The DMCC added the growth has been driven by international demand, work done by the DMCC with the key commodities sector, demand for Web3 businesses, and blockchain space. The DMCC crypto centre is now home to over 500 companies.
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It represents the largest concentration of crypto and blockchain companies in the region. The centre has also partnered with the global VC firm Brinc to provide access to the fund's $150 million accelerator. The focus is to provide support to companies in the Web3 and blockchain technologies space.
The DMCC has also partnered with SafeGold and Comtech Gold to tokenise gold bars based in UAE facilities. Each gold bar will be backed by a DMCC Tradeflow warrant, leading to an increase in the ease of trading a tokenised asset combined with the additional security, transparency, and real-asset allocation provided by the Tradeflow warrant.
Feryal Ahmadi, Chief Operating Officer, DMCC, added: “Increasing our annual company registrations by 23% to reach 3,049 new members in 2022 sets a new baseline for DMCC. Next year will see DMCC build on its position of strength by further enhancing its services and offerings and forging new partnerships across the globe, all with the ultimate aim of driving new trade flows through Dubai.”
Edited by Kanishk Singh