Dubai’s investment landscape highlighted for EU businesses

DMCC - the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise - has completed a European roadshow during which it signed two Memorandum of Understandings (MoU) to strengthen collaboration with key counterparts, attract foreign direct investment to Dubai and showcase the ease of doing business in the United Arab Emirates. The roadshow included events in Spain, Monaco, Belgium and The Netherlands with various meetings held with strategic partners at each stage.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “This roadshow forms an integral part of DMCC’s ongoing strategy to engage with key markets and stakeholders in line with our mandate of attracting innovators, investors, entrepreneurs and business leaders to Dubai. We are thrilled to have had the opportunity to be on the ground to showcase the potential Dubai and DMCC offer. While our business district continues to grow, with now over 19,000 members, we are seeing increasing and sustained interest from European markets. Through the two partnerships we signed, we are confident that our trade ties will strengthen further and we will be unlocking a host of mutually beneficial opportunities.”

The DMCC team met with Jean Castellini, Minister of Finance and Economy - Ministry of State Monaco during the visit to the city to discuss boosting Dubai-Monaco trade opportunities. While in Spain, DMCC signed an agreement with Fomento del Trabajo Nacional, the main employer organisation in Cataluna, to further develop the existing relationship between the two parties and showcase the commercial appeal of Dubai to firms in the region.

David Tornos, General Secretary, Fomento del Trabajo Nacional, said: “We have collaborated with DMCC on several occasions and decided to formalise our relationship through this agreement based on our shared goals. DMCC’s ecosystem offers great value add to the host of Spanish businesses looking to reach new global markets. We see tremendous potential through this collaboration and we very much look forward to what the future holds.” The second MoU was signed with Rotterdam Partners, an Investment and Promotion Agency in The Netherlands, to cooperate on matters of mutual interest and benefit. The MoU was signed in the presence of the Mayor of Rotterdam, HE Ahmed Aboutaleb, who welcomed the agreement.

Wilbert Lek, Managing Director, Rotterdam Partners, said: “Dubai and Rotterdam have a lot in common, foremost a passion for innovation. Through our collaboration with DMCC, we will offer Dutch companies the opportunity to explore a thriving business and commercial hub in Dubai and we are looking forward to welcoming companies from the Emirates to Rotterdam. We are excited to be working with DMCC and opening doors for businesses in both cities, to learn and grow.” Before concluding the roadshow, the DMCC team travelled to Belgian city of Antwerp to meet with various diamantaires and discuss possible routes of collaboration to drive growth in the international diamond industry.

In Barcelona, DMCC hosted its flagship Made for Trade Live event, in partnership with the UAE General Consulate in Barcelona, Fomento del Trabajo Nacional and Banco Sabadell. Those in attendance had the opportunity to engage with various stakeholders and become better acquainted with the unique opportunities available to connect to global markets through DMCC. Participants also obtained information on DMCC’s Crypto Centre, launched in May and set to be a hub for the development and application of crypto and blockchain technologies. DMCC also had a presence at the 4YFN event, the world’s largest exhibition for start-ups in the mobile industry and attended the Mobile World Congress.

The Dubai free zone DMCC has welcomed recently 1,230 new member companies in the first half of 2021, the best 6-month performance since 2013. This builds on free zone’s strong performance in 2020, during which it attracted 2,025 new businesses supported by DMCC’s relief packages offered during the global pandemic.

 “We have carried over the record-breaking performance of 2020 into 2021, with another set of very strong achievements across all our pillars,” said Ahmed Bin Sulayem. “The numbers speak for themselves and following the recent launch of the DMCC Crypto Centre, which has generated significant interest from the global crypto community, the second half of the year looks even more promising. “We expect to reach 20,000 members by year-end - a target I am confident we will achieve. As the Emirate prepares to welcome the world to Expo 2020 Dubai and our nation looks to celebrate its Golden Jubilee, the future holds many more opportunities for growth.” In June alone, DMCC welcomed 220 new businesses to its Free Zone and business district, the best June performance since inception. Q1 of 2021 also marked the DMCC’s best performance in seven years. Global trade will rebound in 2021 after showing surprising resilience in 2020 despite the economic challenges posed by the pandemic, according to DMCC’s latest special edition Future of Trade 2021 report titled, ‘Defying predictions and driving the post-pandemic economic recovery.’