DMCC Doubles Chinese Companies Over Last 5 Years
DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has announced a doubling of Chinese companies in its Free Zone, and adding on average more than two Chinese companies a week.
Today, DMCC is home to 703 Chinese businesses, representing nearly 12% of the Chinese companies in the UAE. This growth is underpinned by a long-standing diplomatic and economic relationship between the UAE and China.
DMCC has played a vital role in strengthening the UAE–China trade relations and in enhancing the presence of Chinese companies in Dubai.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “China has always been a significant market for DMCC. It is the largest economy in Asia and the second largest in the world, and the biggest trading partner for the UAE.
"There are more than 6,000 Chinese companies in the UAE and DMCC is proud to be home to 12% of them.
"Combined with the leading business ecosystem, infrastructure and facilities on offer at DMCC, Dubai’s strategic location provides us with a significant competitive advantage when it comes to supporting the international expansion of Chinese businesses.”
Since its establishment, DMCC has signed a wide range of agreements with public and private entities in China to boost the bilateral trade relationship, and hosted roadshows and webinars to facilitate the international expansion of Chinese companies.
DMCC has created an integrated infrastructure that caters to the Chinese business community, including the establishment of the Yingtian Chinese Business Centre DMCC in 2017 to aid Chinese companies wanting to set up a company in Dubai.
In addition, DMCC’s website was also launched in Mandarin to further increase the ease of doing business in Dubai.
In 2020, a China Service Centre opened its doors in Almas Tower, DMCC’s headquarter, with Mandarin onboarding support across all client touchpoints, while a representative office in Shenzhen was inaugurated to bring DMCC to the doorstep of Chinese businesses.
Li Jian, General Manager of Dongfang Electric International Corporation, a Chinese DMCC member company, said: “Advantageous geographical location, developed social and economic infrastructure, and business-friendly environment has created DMCC's strong competitiveness.
"During the process of establishing a branch office in DMCC, we felt that the fully digital registration process was simple and effective. The DMCC team promptly assisted us and provided professional and efficient support.”
Tang Yuhua, President of POWERCHINA MENA, said: “POWERCHINA MENA was registered with DMCC in 2013. In the past nearly ten years, we have witnessed the growth and development of DMCC.
"The digital platform provides a one-stop service centre from business licensing to personnel management which has been valuable for our business operations.”
Jason Ou, President of Hisense Middle East & Africa, said: “Being located in DMCC presents a myriad opportunities and expansion prospects.
"DMCC has supported Hisense, a global business with its regional head office situated in DMCC, with its business growth plans and regional development."
The UAE is China’s biggest trading partner in the Arab World.
In 2021, China also ranked first as the UAE’s biggest trading partner, accounting for 11.7% of the UAE’s total foreign trade, and the value of non-oil trade exchange between the two countries amounted to AED 212 billion, a growth of 27% from 2020.
This accelerated growth is in part due to the UAE being among the first countries to join the Belt and Road Initiative and the comprehensive strategic partnership.
Read More: DMCC Publishes Future of Trade 2022 Report