Dubai, UAE; 9 June 2014: DMCC, the Government of Dubai Authority with a mandate to enhance Dubai's position as a global gateway for commodity trade and enterprise, has been named by fDi Magazine as Free Zone of the Year for SMEs - Middle East & Africa and Free Zone of the Year for SMEs - UAE in their Middle East Free Zones of the Year rankings and awards for 2014 / 2015.Ahmed Bin Sulayem, Executive Chairman, DMCC, commented: "Small to Medium size Enterprises (SMEs) are the key driving force behind the growth of the economies of the UAE and the region. At DMCC we are passionate about creating a sustainable and optimal business environment for SMEs to further enhance this growth and support His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai's vision to position Dubai as the global destination for SMEs." Receiving two awards, the fDi Free Zone of the Year for SMEs - Middle East and Africa; and the fDi Free Zone of the Year for SMEs - United Arab Emirates is a strong indicator of Dubai's and DMCC's leading role in attracting fDi to the region. As the largest and fastest growing free zone in the UAE with over 8,700 member companies, 95 per cent of which are new to Dubai and 70 per cent of which are SMEs, we will continue to ensure businesses have access to everything they require to succeed, trade with confidence and access new markets."
While DMCC caters to companies of all sizes and its appeal is not restricted solely to smaller companies, our judging panel felt its offering for SMEs is particularly strong", said Courtney Fingar, Editor-in-Chief, fDi Magazine. DMCC also recently announced its 'Burj 2020 District' plans which will feature the world's tallest commercial tower as centrepiece, the 'Burj 2020'. The 'Burj 2020 District' is being constructed as a direct result of customer demand in particular from large regional corporates, multi-nationals and multi-business entities.
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DMCC is a strategic initiative of the Government of Dubai, was established in 2002, with a mandate to provide the physical, market and financial infrastructure required to set up a commodities market place in Dubai. DMCC attracts key players throughout the entire value chain of a wide range of commodities sectors, together with relevant support industries such as finance, logistics and insurance. DMCC has established a robust infrastructure, including free zone status, trade networking platforms, secure vaults and purpose-built storage facilities. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including 50-year guaranteed 0% corporate and personal income tax, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment. DMCC has also implemented a dedicated compliance policy in the organisation, which is in line with the compliance related laws and regulations of the UAE Federal Government and the competent international bodies. DMCC owns three fully operational towers which host the majority of the physical, market and financial infrastructure including the Jewellery & Gemplex facility, the specialised diamond and pearl exchanges and gold vault. www.dmcc.ae
© Press Release 2014