Dubai is expecting to see a ‘new wave’ of Chinese businesses setting up shop in Dubai, with the opening of a representative office of Dubai Multi-Commodities Centre (DMCC) in China.
The free zone announced on Monday it has officially opened its new office in Shenzhen that will provide advisory and consulting services in a “common language” to Chinese clients.
“The opening of a representative office in Shenzhen, a commercial and financial centre, will enable DMCC to identify business opportunities, connect with potential partners and attract businesses to Dubai through a faster and more efficient process,” DMCC said in a statement.
China is one of Dubai’s major trading partners, with more than $18 billion worth of trade in the first half of 2020. So far, there are at least 544 Chinese companies holding office in DMCC, accounting for nearly 10 percent of all Chinese businesses registered in the country.
DMCC also has a dedicated Chinese website that offers fast access to Chinese companies in setting up their business in in the free zone.
Ahmad Hamza, executive director for free zone at DMCC, said: “The opening of this representative office will allow us to work closer with Chinese business community and unlock a host of opportunities. It will also further the longstanding commercial relationship that exists between the UAE and China and reinforce our support to both the Dubai Silk Road strategy and the One Belt One Road Initiative and the mutual business potential they will bring,” he added.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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