Attracts 2025 Companies to Dubai in 2020
DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – registered a record breaking 2025 new companies in 2020, the highest number of registrations in 5 years.
Despite an overall business environment shaped by the COVID-19 pandemic, the record-breaking registrations are a testament to Dubai’s continued appeal to investors.
DMCC’s strong performance is primarily due to the Business Support Package launched in March 2020 that saw interest from companies in 149 countries.
This was the business hub’s largest ever commercial offer, offering a wide range of incentives and value added services to both existing and new companies in the Free Zone.
Supporting its member companies in the community, more than 8,000 member companies availed over 13,000 offers and incentives granted throughout 2020.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “2020 was a year like no other, with the COVID-19 pandemic impacting every society, business and country.
"Despite the countless challenges at our doorstep, the UAE’s visionary leadership and prompt and decisive actions meant that our economy remained resilient throughout.
"DMCC’s strong performance, which saw 2025 companies set up in our Free Zone during a global crisis, is a clear indication that the UAE and Dubai remain the chosen place to do business.
"We know that 2021 will not be without its obstacles, but we are optimistic about our growth trajectory and our continued ability to attract foreign direct investment to the Emirate.”
The record-breaking number of new company registrations is also the result of significant enhancements to DMCC’s customer service, its simplified and fully digitalised set up processes and easier onboarding.
By providing customers a seamless, digital company set-up experience, and significant focus on digital marketing, the Free Zone has seen more than a 50% drop in walk-ins and physical visits, with existing and new members preferring to conduct their transactions online.
95% of new companies in the Free Zone start their journey with DMCC digitally.
In recognition of its continued efforts to enhance its ecosystem, DMCC was named Global Free Zone of the Year by the Financial Times’ fDi Magazine for the sixth year in a row in October 2020.
Feryal Ahmadi, Chief Operating Officer, DMCC, said: “DMCC set out with great ambitions at the start of 2020, and quickly had to adapt to the reality of the pandemic.
"Beyond successfully reaching our targets, we made sure that both new and existing companies in the Free Zone received relief and support during the challenging year."
China remains a key target market for DMCC, and saw a 20% increase year-on-year in Chinese companies joining the Free Zone in 2020.
In November 2020, DMCC inaugurated a representative office in Shenzhen, China, which is expected to usher in a new wave of business opportunities to Dubai.