DMCC achieves record-breaking number of companies, commodities trade in 2020

SourceMubasher
SectorEconomy
CountryUAE

UAE - Mubasher: The total number of new companies that joined the Dubai Multi Commodities Centre (DMCC) reached 2,025 in 2020, recording the highest level in five years. This breaking record is attributed to the business support package launched in March 2020, attracting companies from 149 countries, according to a recent press release. A total of 8,000 member companies have benefitted from the Free Zone's 13,000 commercial offers and incentives throughout the year. The number of Chinese companies joining DMCC rose by 20% year-on-year (YoY) in 2020.

As for the commodity trade, DMCC saw AED 91.8 billion ($24.99 billion) rough diamonds traded through the Dubai Diamond Exchange (DDE). The Free Zone also recorded 7 million kgs of coffee handled by the DMCC Coffee Centre and 40,000 metric tonnes of tea. In addition, the DMCC Tradeflow platform registered transactions valued at AED 744 billion ($202 billion), up 121% YoY. The Executive Chairman and CEO of DMCC, Ahmed bin Sulayem, said: "As for DMCC, we continued to attract, facilitate and promote global trade flows to and through Dubai. We surpassed 18,000 member companies, broke company registration records, while launching new initiatives and progressing on time with flagship projects." ...read more...