- May 17, 2017
- Posted by: intuit
- Category: Article
The Dubai Multi Commodities Center (DMCC), is one of the most in sought after free zones in the UAE and home to more than 13,500 companies. It recognizes the importance of connecting with established and growing markets to keep its increasing growth rate. As per the reports published in leading newspapers of the UAE the DMCC have signed dozens memorandum of understanding (MoUs) in the year 2016 itself, primarily focusing on prestigious Chinese organizations namely, China Silver Group, Shanghai Gold Exchange etc.
In addition to that UAE government have allowed facility of visa on arrival in UAE for Chinese passport holders, which will give a boost to bilateral trade and attract more number of Chinese visitors in the country.
DMCC had organized its international road show “Made for Trade Live” last month in Shenzhen and many senior officials of the free zone have appreciated the UAE government’s initiatives to attract foreign investments and bilateral agreements focusing Chinese markets. They have also apprised about the increasing number of its Chinese members including some of the most successful Chinese companies e.g. Sinopec, Hisense, Power China, China State Construction Engineering corporation etc. DMCC reported average annual growth rate of forty six percent in Chinese companies’ registration with DMCC in last five years. The road show was attended by more than 250 chines businesses to get more information about setting up a company at DMCC and advantages of being a member of UAE’s leading free zone.
Representatives of leading Chinese organizations have actively participated in the road show and acknowledged the lucrative and supporting policies of UAE and DMCC free zone authorities. They recognized the similarities between Shenzhen and Dubai as both cities emerged as leading business hubs from small fishing villages and the entrepreneurial spirits in the people. The Chinese companies are preferring DMCC considering its simple and timely process. DMCC also provides Chinese speaking staff to facilitate Chinese companies set up in DMCC. Chinese businesses are identifying opportunities for their global footprints and DMCC and Dubai help them to reach out more than 80 percent of world’s population in less than 8 hours flight. This USP of Dubai shall continue to attract more investors in future.
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