DMCC targets London to attract foreign investment to Dubai
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Thu July 5, 2012 2:58 pm

UAE. The Dubai Multi Commodities Centre Authority (DMCC), the licensing authority for the Jumeirah Lakes Towers (JLT) Free Zone, continues its drive to attract foreign investment to Dubai by organising international events, briefings and road shows.

Most recently, DMCC organised an exclusive networking dinner in the City of London, attended by over 50 C-suite executives from leading government bodies and finance, trade and investment institutions including Citigroup, HSBC, JP Morgan, Rothschild, Xstrata, DeBeers, Department for Trade and Industry UK, and the UAE Embassy in London.

The event aimed to promote Dubai and DMCC as a world-class business and trade hub, and an ideal destination for those looking to expand their presence in the region.

Ahmed bin Sulayem, Executive Chairman of DMCC, comments: “Since its inception 10 years ago, DMCC has worked hard to fulfil His Highness Sheikh Mohammed Bin Rashid Al Maktoum’s vision, by providing the infrastructure required to cement Dubai’s status as a leading trade destination and making us the Middle East’s only commodities hub.

The attractiveness of our unique value proposition is demonstrated through our strong growth in the JLT Free Zone. Since the start of 2012, DMCC has registered 975 companies; a 60% rise over the same period in 2011 and bringing the JLT Free Zone’s membership to over 4,600 companies.”

Spread across 200 hectares, the JLT Free Zone combines both business and community living, with 61 completed towers and over 50,000 people living and working in the free zone.

About Dubai Multi Commodities Centre Authority (DMCC)

The Dubai Multi Commodities Centre Authority (DMCC) is the master developer and licensing authority for the Jumeirah Lakes Towers (JLT) free zone, one of the largest, fastest growing mixed-use developments in Dubai. Owned by the Government of Dubai, DMCC was established in 2002, by Royal Rule No 4 of 2002, with a mandate to enhance commodity trade flows through the Emirate by providing the physical, market and financial infrastructure required.

DMCC offers a fit-for-purpose regulatory framework, modern infrastructure, free-hold property, innovative products and value-added services. It has successfully attracted key participants throughout the entire commodities sector value chain; as well as businesses ranging from shipping to recruitment, IT to advertising and fashion. JLT-based companies enjoy highly attractive benefits under the free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure, regulated environment.

As a 200 hectare, mixed-use waterfront master development with a prime central location on Sheikh Zayed Road, JLT nurtures both trade and community living through its commercial, residential and retail property offering. Today, JLT is home to over 4,500 regional and multi-national companies and over 50,000 people living and working in the free zone.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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