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09 June, 2014

DMCC Free Zone leads the way for MENA and UAE SMEs

DMCC awarded best MENA and UAE Free Zone for SMES

DMCC Free Zone leads the way for MENA and UAE SMEs
DMCC awarded best MENA and UAE Free Zone for SMES Two awards honoured by fDi Magazine for the DMCC Free Zone's industry leading services and support for its member companies

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 70 per cent of today's members are SMEs representing every sector ranging from Just Falafel - the biggest falafel franchise in the world; to acdc - a LED design and technology provider; to NSI Gulf - a fast growing technology consultant firm and regional leader in Salesforce implementation; through to Unisteel International - the global steel trader; the DMCC Free Zone is also home to multi-nationals such as American Express, Diamdel (DeBeers), Glencore Xstrata, Harley Davidson, Louis Dreyfus, LVMH, Nutricia Danone and Rio Tinto Alcan.

"In our inaugural Free Zone of the Year awards for the Middle East and North Africa, it gives us great pleasure to recognise DMCC as the top free zone in both the UAE and the broader region for attractiveness for SMEs. The UAE sets the standard for free zones worldwide, so excelling in the world's most competitive country for free zones takes dedication, excellence and a strategic vision as well an eye for detail and strong customer service. The fast rate at which new companies are registering at DMCC is testament to its successful approach despite the many other alternatives that companies moving to Dubai are presented with.  
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. 

Businesses around the globe look for a place where they can expand, access new markets and conduct their operations in a world-class, secure, well integrated environment. DMCC provides this infrastructure with its Free Zone. There are today over 85,000 people working and living within the DMCC Free Zone in Dubai. With an average of 200 companies choosing to join DMCC each month and a 94% retention rate, DMCC remains the UAE's largest and fastest growing free zone with over 8,700 member companies.

fDi Magazine is a specialist investment title published by The Financial Times Group and it conducts this global survey every two years. The rankings are considered the most prestigious free zone rankings around the globe and are based on several criteria such as outstanding performance year on year, growth and expansion plans and presence of high growth industries. The rankings have a particular focus on financial aspects and other such incentives including tax exemptions offered, transport services, infrastructure development and economic potential.

As winner of the Free Zone of the Year for SMEs - Middle East & Africa and the Free Zone of the Year for SMEs - UAE awards, DMCC will now enter the global rankings to be announced in October.

-Ends-

Media Enquiries:
DMCC
Henriette Svensen
PR & Corporate Communications Manager
+971 4 375 2207
henriette.svensen@dmcc.ae

About DMCC
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