Dubai's DMCC free zone attracts over 2,000 new companies in 2020

A general view of Dubai and the world's tallest tower, the Burj Khalifa (C), December 9, 2015. (Reuters)

• The figure is the highest in the last five years

DUBAI: More than 2,000 new companies have signed up for a license at the Dubai Multi Commodities Centre (DMCC) free zone in 2020, despite the challenges of COVID-19.
The figure is the highest in the last five years. 
The free zone said 2,025 companies have joined, benefiting from a series of new incentives rolled out after the start of the pandemic.  
“We surpassed 18,000 member companies, broke company registration records while launching new initiatives and progressing on time with flagship projects,” DMCC chairman Ahmed Bin Sulayem said.
“Building on this momentum, we will maximize the progress made to reach new heights in 2021.”
The year 2020 also saw a 20 percent increase in Chinese companies joining the DMCC.
The first move was an agreement with Israel Diamond Exchange. DMCC also opened a representative office in Tel Aviv after the UAE and Israel established relations last year. The new office is supporting Israeli businesses, from all industries and sectors, to set up an office in DMCC. 
The DMCC also hosted 19 virtual roadshow webinars to engage with key international markets including China, Israel, Russia, Switzerland, Germany, Angola, South America, Spain, Turkey, Ukraine and the United Kingdom.