DMCC slashes set-up costs by 50% for diamond companies – The National

DMCC slashes set-up costs by 50% for diamond companies – The National

The free zone aims to attract international companies to set up operations in Dubai





























Dubai has emerged as a leading diamond trading hub. Alamy  





















Aug 1, 2020



August 1, 2020













The Dubai Multi Commodities Centre free zone is reducing its business set-up fees by 50 per cent for diamond companies to boost the emirate's precious stone trade and attract international companies to the emirate.



The rate reduction is effective immediately and valid until September 30, the free zone said in a statement on Saturday. All new company registrations will also be offered a free 12-month membership of the Dubai Diamond Exchange - the world's largest diamond tender facility.



"Right across the supply chain, the diamond industry is passing through a period of turbulence. For many, the change that will follow is seen as an unpredictable threat. But for Dubai, it is an opportunity," said Ahmed Bin Sulayem, executive chairman and chief executive, DMCC.





"By reducing the cost of setting up in DMCC by record levels, we hope to remove barriers