DP World launches Global Business Corporation to support growth ambitions of large companies

DP World on Monday launched the Global Business Corporation (GBC) — a new strategic arm focused on supporting large companies in achieving their growth ambitions.

In a statement, the Dubai-based DP World said the new entity can provide business set-up and licensing — under unique common law-based GBC Regulations — for large companies that wish to set up a limited liability entity or branch in Dubai.

A GBC licence permits a foreign or domestic corporate group to own and operate a business management entity, allowing them to build a wide range of functional expertise and regional management capabilities as well as intellectual property based on their strategies, operational needs, and capital requirements. GBC companies registered in the Jebel Ali Free Zone (Jafza) can also be used as holding companies.

Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said Dubai’s location provides easy access to vast opportunities in the emerging markets of the Middle East, Africa, Europe, and the CIS. "With the growth of manufacturing in this region, our air, sea, road, and rail infrastructure seamlessly connect Dubai to markets all over the world. Dubai’s world-class business-enabling infrastructure, access to highly skilled talent pools and its ability to offer an array of strategic advantages make it one of the globe’s most growth-friendly business hubs," he said.

"With the launch of GBC, we plan to be standard-bearers for ambitious high-growth companies from around the world and provide them the support needed to achieve their strategic ambitions,” he said.

The initiative, which is set to further raise Dubai’s profile as a preferred global business destination, invites companies to enhance their international operating models with a base in the emirate.

The launch of GBC by DP World will open new horizons for large companies focused on strategic growth in a remapped, post-pandemic world. Located at the strategic crossroads of major trade corridors and close to some of the world’s largest and fastest-growing markets, GBC will help companies access a comprehensive portfolio of business enablement solutions and a thriving business ecosystem in Dubai to facilitate new opportunities for businesses to expand their operations in Dubai.

"Today, more and more companies with global reach are finding Dubai an exciting business-friendly destination. Dubai is where political and economic stability meets culture, ideas and progress," Mohammed Al Muallem, executive vice-president of DP World, said.

"Businesses have been coming to Dubai to grow and prosper for over a century. The business world has changed, presenting opportunities for large companies to consider alternative locations when thinking about their strategic growth," he said.

Driven by the goal of ushering in a new era of opportunities for corporations, GBC seeks to raise awareness of Dubai’s strengths and benefits as a location for high-value centralised business operations of large companies, such as headquarters, functional centres of excellence, and finance and treasury hubs.

Standing at the heart of a business-enabling ecosystem that includes special economic zones, the region’s largest trade port and a comprehensive portfolio of services and solutions, GBC seeks to connect companies to business enablers across Dubai to help them scale up and operate seamlessly.

GBC is a complementary to the coalition of Dubai’s foreign direct investment advocacy and advisory groups. GBC will further enhance Dubai’s ability to add value and agility to corporations establishing their headquarters or regional hubs in the city.

Key takeaways

> New strategic arm will further raise Dubai’s profile as a preferred global business destination

> GBC invites multinational companies to enhance their international operating models with a base in Dubai

> GBC can provide business set-up and licensing -- under unique common law-based GBC Regulations -- for large companies that wish to set up a limited liability entity or branch in Dubai

> GBC license will permit a foreign or domestic corporate group to own and operate a business management and headquarter entity in Dubai

> GBC seeks to connect companies to business enablers across Dubai to help them scale up and operate seamlessly

— muzaffarrizvi@khaleejtimes.com