Dubai, UAE – The number of Chinese companies operating in DMCC’s flagship Free Zone, , has doubled, with an average of more than two Chinese companies being added each week, the DMCC announced on Wednesday.
DMCC is home to 703 Chinese businesses, representing nearly 12 percent of the Chinese companies in the UAE.
Since its establishment, DMCC has signed a wide range of agreements with public and private entities in China to boost the bilateral trade relationship, and hosted roadshows and webinars to facilitate the international expansion of Chinese companies.
DMCC has created an integrated infrastructure that caters to the Chinese business community, including the establishment of the Yingtian Chinese Business Centre DMCC in 2017 to aid Chinese companies wanting to set up a company in Dubai.
DMCC’s website was also launched in Mandarin to further increase the ease of doing business in Dubai. In 2020, a China Service Centre opened its doors in Almas Tower, DMCC’s headquarter, with Mandarin onboarding support across all client touchpoints, while a representative office in Shenzhen was inaugurated to bring DMCC to the doorstep of Chinese businesses.
“There are more than 6,000 Chinese companies in the UAE and DMCC is proud to be home to 12 percent of them,” Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC said.. “Combined with the leading business ecosystem, infrastructure and facilities on offer at DMCC, Dubai’s strategic location provides us with a significant competitive advantage when it comes to supporting the international expansion of Chinese businesses.”
The UAE is China’s biggest trading partner in the Arab World. In 2021, China also ranked first as the UAE’s biggest trading partner, accounting for 11.7 percent of the UAE’s total foreign trade, and the value of non-oil trade exchange between the two countries amounted to AED212 billion, a growth of 27 percent from 2020 and 19.8 percent from 2019.
China remained the UAE’s top trading partner during the first quarter of 2022, with bilateral trade between the two countries at AED57 billion. The trade value is on track to expand to US$ 200 billion by 2030.
This accelerated growth is in part due to the UAE being among the first countries to join the Belt and Road Initiative and the comprehensive strategic partnership. The UAE is now the largest logistics hub for China in the Middle East and more than 60 percent of China’s trade in the region now transits through the UAE.