Middle East

DMCC report records H1 performance and registers 1,469 companies

Dubai’s DMCC registered 1,469 new companies in the first six months of 2022, reporting the best performance ever in the first half of this year.

read: United Arab Emirates DMCC recorded 665 new business registrations in the first quarter of 2022

This is an increase of 19% compared to the same period last year. In June alone, DMCC welcomed 323 new businesses. This is the best monthly performance since its launch.

In 2021, DMCC attracted 2,485 new members, and DMCC now has more than 21,000 companies.

DMCC growth was driven by strong demand from international markets such as Europe, China and India. Growth was also driven by continued interest in the DMCC Crypto Center and mass trading of a variety of commodities, primarily diamonds, tea and coffee.

Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, said: This spirit has allowed member companies to grow from zero to over 21,000 in just 20 years. By providing a hyper-connected community for trade and constantly striving to improve our services, we will continue to work with our member companies for new growth. “

Performance highlights

Attract FDI through international outreach: DMCC conducts roadshows in six major markets, including the United Kingdom, Spain, Turkey, Poland, Brazil and Colombia, highlighting the opportunities offered in the Emirate. Outreach programs have proven to be very effective, with 40% of new businesses originating from Europe and South America in the first half of the year. China and India continue to be key target markets for DMCC, accounting for a total of 20% of new member countries in 2022 so far.

World-leading commodity transactions: The amount of diamonds traded in the United Arab Emirates totaled $ 11 billion in the first quarter, up 36% from the same period last year. In the sophisticated segment, transaction value increased by 80% and at the same time coarse diamond transactions increased by 20% year-on-year.

Advances in cryptography in Dubai: The DMCC Crypto Center has been of great interest since its launch in mid-2021. This growth continues until 2022, with 14% of new business registrations related to cryptocurrency activity in the first half of the year.

The Crypto Center provides a base for crypto businesses of all types and sizes, from those developing blockchain-enabled platforms, NFTs and metaverse environments to those trading crypto assets.

https://gulfbusiness.com/dubais-dmcc-reports-record-h1-2022-performance-registers-1469-firms/ DMCC report records H1 performance and registers 1,469 companies

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