DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, registered a record-breaking 2,025 new companies in 2020.
It is the highest number of registrations in five years.
Despite an overall business environment shaped by the COVID-19 pandemic, the record numbers are a testament to Dubai’s continued appeal to investors and the trust they place in the world’s leading Free Zone.
DMCC’s strong performance is primarily due to the Business Support Package launched in March 2020 that saw interest from companies in 149 countries.
It was the business hub’s largest ever commercial offer, providing a wide range of incentives and value-added services to both existing and new companies.
More than 8,000 member companies availed over 13,000 offers and incentives granted throughout 2020.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: "2020 was a year like no other, with the COVID-19 pandemic impacting every society, business and country. Despite the countless challenges at our doorstep, the UAE’s visionary leadership and prompt and decisive actions meant that our economy remained resilient throughout.
"DMCC’s strong performance, which saw 2025 companies set up in our Free Zone during a global crisis, is a clear indication that the UAE and Dubai remain the chosen place to do business. We know that 2021 will not be without its obstacles, but we are optimistic about our growth trajectory and our continued ability to attract foreign direct investment to the Emirate."