DIFC sees 25% rise in new firms in first half of 2020

DIFC sees 25% rise in new firms in first half of 2020

Dubai / WAM

Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, continued to drive the future of finance during the first half of 2020. The centre made progress on its 2024 strategic priorities and achieved a record number of registrations in the first six months of 2020. These achievements paralleled efforts to help clients emerge stronger from the Covid-19 pandemic, contributing to local, regional and global economies. Finance and related innovation industries continued to show their confidence in Dubai as MEASA's leading financial and fintech centre of choice. A total of 310 new companies were registered in first six months of year, representing an impressive 25% increase from the same period in 2019. This took the total number of active registered companies in the DIFC to 2,584, a significant achievement in light of the global pandemic. The centre achieved continual growth throughout H1 2020, with an average monthly registration of 52 companies and two record breaking months with 66 company registrations in March and 88 in June respectively. DIFC is now home to 820 financial related firms, a 22 percent increase year-on-year and 11% increase on FY2019. Representing DIFC's