DMCC, a world leading Free Zone in Dubai, reports 46 per cent average annual growth in Chinese company registrations over the past five years
DMCC, the authority on trade, enterprise and commodities in Dubai, home to over 13,500 companies, today announced, as part of its 7-day roadshow across Chinese cities, that it has seen a strong growth in Chinese companies joining its Free Zone.
Registrations of Chinese companies in DMCC have grown by an average of 46% annually over the last five years, as the China 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 striking 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.
Speaking at DMCC’s international road show, ‘Made for Trade Live’ in Shenzhen today, 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
Passionate about connecting people and markets, DMCC’s international roadshow ‘Made for Trade Live’ is designed to do exactly that 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 across both cities to learn more about setting up a company in Dubai.
Held at the Marriot Hotel in Shenzhen, DMCC’s event got off to a flying start with welcome speeches and trade updates from Gautam Sashittal, Chief Executive Officer, DMCC and Xiuhong LIN, the Director of Economic Trade and Information Commission of Shenzhen Municipality.
Moderated by Dr. Jianzhong Lu, Partner, Brunswick Group, a panel discussion with Daniel Sellers, Head of China International Office, Dubai Chamber; Feng Li (Justin), CEO, Yingtian International Management Consulting; Hongbin Cong, Vice Chairman, International Relations, Falcon and Associates; Sanjeev Dutta, Executive Director, Commodities, DMCC and Tianlu SUN, President of Shenzhen Foreign Economic and Trade Statistics Association, Shenzhen City Vice president and Secretary General of Strategic Cooperation Alliance generated insightful debate on the benefits and challenges when looking to expand overseas and how Dubai and DMCC can help.
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.
For more information on the DMCC’s ‘Made for Trade Live’ roadshow