DMCC visits key Brazilian cities to drive trade, new business to Dubai - GulfToday

DMCC visits key Brazilian cities to drive trade new business to Dubai

DMCC delegation highlighted the significant opportunities in Dubai for Brazilian companies during their visit.

DMCC delegation highlighted the significant opportunities in Dubai for Brazilian companies during their visit.

The DMCC — the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise - has successfully concluded a series of Made For Trade Live international roadshows and trade discussions in key Brazilian cities, highlighting the significant opportunities in Dubai for Brazilian companies looking to expand their operations internationally.

Brazilian business leaders from a range of sectors were addressed by senior DMCC executives, who emphasised the ease of doing business in DMCC. The discussions also focused on how Brazil and the UAE more broadly can enhance bilateral trade and relations.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said, “As being part of BRICS for the past two decades, Brazil is an increasingly important player in the global market, particularly when it comes to commodities such as coffee and metals, as well as important sectors including the manufacture of aircraft and eco-friendly automobiles. As such, DMCC is perfectly positioned to support a wide range of Brazilian businesses in expanding their international footprint, utilising Dubai’s status as a gateway for trade to tap into the world’s fastest-growing markets.” Held in partnership with the Arab-Brazilian Chamber of Commerce, this latest series of Made For Trade Live roadshow events marked DMCC’s sixth tour of the region, demonstrating DMCC’s deep commitment to Brazil and its focus on strengthening trade relations across a wide range of commodity sectors.

Osmar Chohfi, President of Arab-Brazilian Chamber of Commerce, said, “The firm bond we maintain with DMCC has naturally guided us towards signing the Cooperation Agreement between our entities. Established in September 2021, the MoU commits us to holding seminars, roadshows, trade missions and other activities aimed at fostering the relationship between Brazilian companies interested in growing internationally and the Dubai Multi Commodities Centre.” DMCC has played a significant role in enhancing UAE-Brazil relations through a series of events and partnerships, and is home to some of the world’s leading Brazilian businesses.

DMCC’s business district acts as a global hub for trade and a prime location for Brazilian companies to set up a business in Dubai and tap into a broad range of markets.

Separately, DMCC welcomed 665 companies to its Free Zone in Dubai during the first quarter of 2022. This represents DMCC’s best first quarter since its inception over twenty years ago, a 13 percent year-on-year increase, and a 25 percent increase compared to the five-year average.

The results demonstrate Dubai’s status as a world-class business destination and the ease of doing business by setting up a company in DMCC.

“Registering 665 new companies in the first three months of 2022 is another record broken for DMCC, and serves to show the huge potential on offer when joining our Free Zone in Dubai. Looking ahead, we will keep up the momentum and go further and faster to attract the world’s most ambitious firms looking to set up and do business in Dubai. Following the overwhelming success of Expo 2020 Dubai, these are exciting times for the emirate and DMCC will push ahead and continue to promote the huge commercial potential that Dubai possesses,” said Ahmed Bin Sulayem.

DMCC’s key markets such as India, UK, Germany and France performed stronger than the same period in previous years. DMCC also witnessed 34 percent increase in Dubai company formation from China in Q1 compared to the same period last year. Success in China follows DMCC’s significant Mandarin engagement programmes that run country-wide throughout the year, and its representative office in Shenzhen. Meanwhile, specific outreach programmes to markets such as Israel and Turkey have led to an increase in quarterly company registrations by 350 percent and 100 percent during the quarter, respectively.

DMCC has also registered growing interest from emerging trade hubs such as Indonesia and Vietnam. Following the launch of the DMCC Crypto Centre in May 2021, DMCC has seen a surge in the number of crypto and blockchain businesses joining its Free Zone. In the first quarter of 2022 alone, 16 percent of all company registrations were for crypto-related activities. This record-breaking quarter follows on from DMCC’s best-ever year in 2021, in which it attracted 2,485 companies to Dubai. This milestone pushed DMCC past the 20,000 member companies milestone, indicating DMCC’s significant value proposition to businesses looking to expand internationally by setting up a company in Dubai, and tap into global trade. Meanwhile, Dubai Next, the digital crowdfunding platform that has attracted many young innovators and start-up ideas, is anticipating an increase in fund-seekers and contributors following the country approving a federal system for such platforms recently.


Related articles