Group Recognizes DMCC Free Zone as Best for Small and Medium Enterprises

The financial magazine FDI has named DMCC, Dubai’s new free trade zone as, "Global Free Zone of the Year for SMEs" through their ranking awards of 2014. The DMCC was created with the intention of marking Dubai as the best international hub for commodity trade and enterprise.

The FDI’s award has proven even further that Dubai is in fact the most prominent and suitable destination and home for SMEs.

Dubai’s DMCC was selected by the FDI after its judges examined its overall performance during the previous year. They reviewed features like the increase of tenants, its growth percentage and how it introduced new motives and incentives so as to make the free zone competitive.

The award indicates that the DMCC is not only considered the best financial hub within the MENA, for SMEs but also across the globe. Although DMCC offers services to all sized-corporation, the FDI judging committee regarded that the free zone is especially strong and attractive for SMEs. The rate in which new companies are registering in DMCC only goes to prove that it is the most attractive free zone internationally.

it is a known fact that the free zone market is especially competitive throughout the globe, even more in the Middle Eastern countries and Dubai. Thus, it is a great honour that DMCC was awarded as the most elite and attractive free zone trade for SMEs, as it proves its position and strength on an international spectrum.

The FDI reviewed forty-five free zones across the globe, including seventeen free zones that also participated in the FDI Middle East and North Africa Free Zones of the Year 2014 in the beginning of the year.

At present, DMCC’s registered SME companies amount to 70% of its member companies. These SMEs are involved in many sectors like trading, shipping and recruitment, advertising, fashion and technology. DMCC is home to an abundant of diverse companies. The free zone is also home to a plethora of leading and large corporations like Alcatel Lucent Middle East and North Africa, 7-Eleven, Nutricia Danone, LVMH and Carrera Y Carrera.

DMCC:

the DMCC free zone, was set up in 2002 by the government of Dubai. The main aim was to create the required physical, market and financial infrastructure so as to establish a commodities market in Dubai. DMCC is home to many leading companies within the commodities sector, but also supports industries that are linked to finance, insurance and logistics. DMCC is viewed as a strong and vigorous free zone, with a strong infrastructure which includes free zone benefits and status, trade networking platforms, built storage facilities and secure vaults. Registered and resident companies enjoy the attractive benefits offered by the free zone, which comprises amongst other, 0% corporate and income tax for 50 years, 100% foreign business ownership, complete possession of business premises and a secure controlled environment. DMCC has also introduced a compliance policy, which is based on the compliance legislation and regulations of the UAE Federal Government and proficient international entities. The free zone is the owner of three completely operational towers that offers most of the physical, market and financial infrastructure. The towers include the facilities of Jewellery & Gemplex, the expert diamond and pearl traders and gold vault.