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DMCC elicits keen interest from European firms

Issac John /Dubai
issacjohn@khaleejtimes.com Filed on July 15, 2021
Wam file photo

The free zone received positive response from several European business firms during a DMCC delegation’s four-country road show aimed at attracting foreign direct investment and bolstering collaboration with key counterparts.


DMCC, Dubai’s free zone for commodities trade and enterprise, said it is witnessing an increasing interest from companies in Europe as its business district continues to swell with over 19,000 members.

The free zone received positive response from several European business firms during a DMCC delegation’s four-country road show aimed at attracting foreign direct investment and bolstering collaboration with key counterparts.

The free zone signed two Memoranda of Understanding (MoU) during the tour designed to showcase the ease of doing business in the UAE.

The delegation led by Ahmed bin Sulayem, executive chairman and chief executive officer, DMCC, held road shows in Spain, Monaco, Belgium and The Netherlands and held meetings with strategic partners.

“This roadshow forms an integral part of DMCC’s ongoing strategy to engage with key markets and stakeholders in line with our mandate of attracting innovators, investors, entrepreneurs and business leaders to Dubai. We are thrilled to have had the opportunity to be on the ground to showcase the potential Dubai and DMCC offer,” said Sulayem.

“While our business district continues to grow, with now over 19,000 members, we are seeing increasing and sustained interest from European markets. Through the two partnerships we signed, we are confident that our trade ties will strengthen further and we will be unlocking a host of mutually beneficial opportunities,” he said.

The DMCC team met with Jean Castellini, minister of finance and economy - Ministry of State Monaco, during the visit to the city to discuss boosting Dubai-Monaco trade opportunities. In Spain, DMCC signed an agreement with Fomento del Trabajo Nacional, the main employer organisation in Cataluña, to further develop the existing relationship between the two parties and showcase the commercial appeal of Dubai to firms in the region.

“We have collaborated with DMCC on several occasions and decided to formalise our relationship through this agreement based on our shared goals. DMCC’s ecosystem offers great value-add to the host of Spanish businesses looking to reach new global markets. We see tremendous potential through this collaboration and we very much look forward to what the future holds,” said David Tornos, general secretary, Fomento del Trabajo Nacional.

The second MoU was signed with Rotterdam Partners, an investment and promotion agency in The Netherlands, to cooperate on matters of mutual interest and benefit. The MoU was signed in the presence of the Mayor of Rotterdam, Ahmed Aboutaleb.

Wilbert Lek, managing firector, Rotterdam Partners, said Dubai and Rotterdam have a lot in common, foremost a passion for innovation. “Through our collaboration with DMCC, we will offer Dutch companies the opportunity to explore a thriving business and commercial hub in Dubai and we are looking forward to welcoming companies from the Emirates to Rotterdam. We are excited to be working with DMCC and opening doors for businesses in both cities, to learn and grow.”

The DMCC team also travelled to Belgian city of Antwerp to meet with various diamantaires and discuss possible routes of collaboration to drive growth in the international diamond industry.

In Barcelona, DMCC hosted its flagship Made for Trade Live event, in partnership with the UAE General Consulate in Barcelona, Fomento del Trabajo Nacional and Banco Sabadell. — issacjohn@khaleejtimes.com

author

Issac John

Editorial Director of Khaleej Times, is a well-connected Indian journalist and an economic and financial commentator. He has been in the UAE's mainstream journalism for 35 years, including 23 years with Khaleej Times. A post-graduate in English and graduate in economics, he has won over two dozen awards. Acclaimed for his authentic and insightful analysis of global and regional businesses and economic trends, he is respected for his astute understanding of the local business scene.





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