DMCC, the free zone on trade, enterprise and commodities in Dubai, and authority for 13,500 companies, announced that it has seen a strong growth in Chinese companies joining the Free Zone.
Registrations of Chinese companies in DMCC have grown by an average of 46% annually over the past five years, as Chinese business community looks to leverage Dubai as a location to establish closer trade ties with emerging and established markets.
The announcement comes at the heels of DMCC outstanding landmark deals to establish physical and financial means to trade Chinese coffee beans through Dubai, in addition to existing trade flows for tea, gold and other commodities.
“Given the strong bilateral trading ties between the UAE and China; and the recent move from the UAE government to make visa on arrival in the UAE available for Chinese visitors will be a definite boost to trade between our two countries”, said Ahmed Bin Sulayem, Executive Chairman, DMCC.
DMCC’s 7-day international roadshow across Chinese cities
DMCC’s international roadshow ‘Made for Trade Live’ was designed to enhance business relations and saw the organisation visit both Shanghai and Shenzhen in April as part of its China growth strategy to support the country’s Belt and Road initiative. Over 250 Chinese businesses attended the event across both cities to learn more about setting up a company in Dubai.
DMCC’s Chief Executive Officer, Gautam Sashittal, said: “Chinese companies setting up in Dubai and DMCC are on the rise. In fact, some of China’s biggest and most successful companies are already among our members, including: Hikvision, Power China, Hisense, Sinopec, China Harbour Engineering Company and China State Construction Engineering Corporation. A significant reason they have come to Dubai and our Free Zone, is that our city connects the West to East corridor with China’s Belt and Road initiative.
"Our call to action is clear - DMCC wants Chinese business to come and thrive in Dubai and as a market maker, we do everything we can to enable their trade vision. Dubai’s unrivalled connectivity means that 8 hours on a plane in any direction gives access to 65 per cent of the global GDP and two-thirds of the world population. If we look at Dubai’s top trading partners China, India and the US - that level of connectivity becomes very clear – Dubai really is the gateway between East and West, North and South”, said Gautam Sashittal.
Tianlu SUN, President of Shenzhen Foreign Economic and Trade Statistics Association, Shenzhen City Vice president and Secretary General of Strategic Cooperation Alliance, said:
“Shenzhen and Dubai have both emerged from small fishing and trade villages to major dynamic global centres for commerce at a fast pace. The entrepreneurial spirit is in our DNA hence our strong bilateral trade relations and pro-business attitude will no doubt benefit those looking to do business with both Shenzhen and Dubai today and long into the future”.
“Chinese businesses are clearly identifying international opportunities to expand their operations and complement current business activities in new markets. Dubai can help these businesses establish their global footprint,” said Daniel Sellers, Head of China International Office.
Chinese companies setting up in DMCC is indeed a major stone for Chinese business growth, as there are new opportunities and horizons for all type of companies.