Dubai’s DMCC reports record H1 2022 performance, registers 1,469 firms

Dubai’s DMCC has reported its best ever performance in the first half of a year, registering 1,469 new companies in the first six months of 2022.

Read: UAE’s DMCC records 665 new company registrations in Q1 2022

This represents a 19 per cent increase over the same period last year. In June alone, DMCC welcomed 323 new businesses, the best monthly performance since its launch.

In 2021, DMCC attracted 2,485 new members, DMCC is now home to over 21,000 businesses.

DMCC’s growth was driven by strong demand from international markets including Europe, China, and India. Growth was also spurred by continued interest in the DMCC Crypto Centre, and high volumes of trade for a range of commodities, predominantly diamonds, tea, and coffee.

Ahmed Bin Sulayem, executive chairman and CEO, DMCC, said: “DMCC is constantly striving to further enhance Dubai’s status as a hub for doing business across the globe. This ethos has enabled us to grow from zero to over 21,000 member companies in the space of just two decades. By providing a hyper-connected community for trade and constantly striving to improve our services, we will continue to work with our member companies towards new growth in the years to come.”

Highlights of the performance

Attracting FDI through international outreach: DMCC conducting roadshows in six key markets including the UK, Spain, Turkey, Poland, Brazil and Colombia, highlighting the opportunities on offer in the emirate. The outreach programmes proved to be highly effective, with 40 per cent of new companies in H1 originating from Europe and South America. China and India continue to be crucial target markets for DMCC, comprising a combined 20 per cent of new members in 2022 so far.

 Leading global commodities trade: The volume of diamonds traded through the UAE reached a total of $11bn in the first quarter, up 36 per cent from the same period last year. The polished segment saw an 80 per cent increase in trade value, with rough diamond trade simultaneously increasing 20 per cent year-on-year.

 Advancing crypto technologies in Dubai: The DMCC Crypto Centre has seen significant interest since its launch in mid-2021. This growth has continued into 2022, with 14 per cent of new company registrations in H1 relating to crypto activities.

The Crypto Centre offers a home to all types and sizes of crypto businesses, from companies developing blockchain-enabled platforms, NFTs and metaverse environments, through to firms trading crypto assets.