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Download the Annual Report ANNUAL REPORT 2020 ANNUAL REPORT 2020 DMCC IS It is why we are 01 consistently recognised as the world’s flagship Free Zone and enterprise hub. ANNUAL REPORT 2020 ANNUAL REPORT 2020 Contents Introduction A message from the Executive Chairman and Chief Executive Officer 05 DMCC – Made for trade What we do 06 How we do it 07 A view from the top The year in review 08 Performance highlights 12 Free Zone 16 02 03 Property 18 Commodities 20 Dubai Gold and Commodities Exchange (DGCX) 22 Telling our story Our community 24 Our brand 26 Future of Trade 28 COVID-19 30 Our connections 32 Our impact 34 ANNUAL REPORT 2020 ANNUAL REPORT 2020 “Despite the countless A message from the Executive Chairman and Chief Executive challenges at our doorstep, the Officer, Ahmed Bin Sulayem UAE’s visionary leadership and do everything we could in 2020 to protect our workforce, safeguard the community and support our members. Our teams prompt and decisive actions worked tirelessly throughout the year to implement the changes that would secure the Jumeirah Lakes Towers (JLT) district meant that our economy and all who live, work and visit the area. We also knew that it was more important than ever before to deliver against our remained resilient throughout ambitious business objectives and ensure the organisation continued to move During a period shaped by forward, remove barriers to trade and 2020. DMCC’s strong unprecedented change, market attract investment to our shores. uncertainty, geopolitical tension and a global pandemic, 2020 proved to In 2020 we surpassed 18,000 member 04 be a challenging year for all. Despite companies and broke company 05 performance, which saw 2,025 the difficult context, the resilience registration records in the process. New of DMCC’s business strategy saw the initiatives were launched, existing flagship organisation maintain its leadership projects progressed at pace and the companies set up in our Free position and continue to attract, release of our largest ever commercial facilitate and promote global trade flows support package ensured that both to and through the emirate of Dubai. new and current DMCC members were Zone during a global crisis, is supplied the help they needed to do We have all heard it countless times business. before but 2020 really was a year unlike any other. March saw the world turn Claiming a record sixth consecutive a clear indication that the UAE into unknown territory and chaos as Global Free Zone of the Year award lockdowns were announced in most from the Financial Times’ fDi magazine countries. The future looked bleak and was of course a highlight in 2020 for and Dubai remain the chosen uncertain for all. the organisation. However, what was more impactful was the resilience of our Here in the United Arab Emirates the commercial operation and its ability to place to do business.” authorities were swift in their response to adapt and grow despite incredibly difficult COVID-19 and immediately put measures circumstances. in place to protect residents across the seven emirates. Everyone connected to DMCC should be proud of its performance in 2020 Securing the public’s wellbeing was of and guided by the vision of the UAE course paramount but very few could Leadership, we will maximise the progress have predicted the unprecedented made to reach new heights in 2021. impact to business. The restrictions brought about by the pandemic put most industries under immense pressure as companies of all sizes and sectors were forced to navigate the complexities of the ‘new normal’. Ahmed Bin Sulayem Without question global trade was dealt a significant blow and the road to recovery Ahmed Bin Sulayem DMCC Executive Chairman would be long. Executive Chairman and and Chief Executive Officer None of these realities were lost on DMCC, Chief Executive Officer DMCC and that is why we knew it was critical to DMCC ANNUAL REPORT 2020 ANNUAL REPORT 2020 What. How we . we do do it Headquartered in Dubai, Made for Trade, we have DMCC is the world’s most firmly established Dubai interconnected Free Zone, as a leading trade hub for and the leading trade international commodities and enterprise hub for and the world’s fastest- commodities. growing Free Zone. Whether developing vibrant Providing one of the most 06 neighbourhoods with world-class comprehensive eco-systems for trade, 07 property like Jumeirah Lakes Towers we promote and facilitate trade across and the much-anticipated Uptown Dubai a range of goods from gold, diamonds district, or delivering high performance and precious metals to tea, food and business services, DMCC provides industrial sectors. everything its dynamic community needs to live, work and thrive. As home to major multinationals and start-ups, we connect more than Made for Trade, DMCC is proud to 18,000 businesses with the world-class sustain and grow Dubai’s position as the services, leading infrastructure and place to be for global trade today and vibrant community they need to thrive into the future. and succeed. ANNUAL REPORT 2020 ANNUAL REPORT 2020 A view from the top DMCC witnessed significant growth in 2020. Despite the unprecedented challenge presented by COVID-19, DMCC exceeded ambitious business goals and delivered above target. Laser focused on customer centricity, DMCC accelerated digital solutions, provided customer relief and strengthened service deliver, as the organisation reinforced its reputation as a world leading Free Zone and state-of-the-art trade and enterprise hub. With interest from 149 markets, DMCC’s international appeal elevated to new heights in 2020, as did the appeal of its Jumeirah Lakes Towers (JLT) community as a place to live, work and play. DMCC voted world #1 Free Zone for the record sixth consecutive year by the 08 2020 Financial Times’ fDi Magazine. 09 FREE ZONES FREE ZONES FREE ZONES FREE ZONES FREE ZONES FREE ZONES OF THE YEAR OF THE YEAR OF THE YEAR OF THE YEAR OF THE YEAR OF THE YEAR 2020 2019 2018 2017 2016 2015 WINNER: GLOBAL WINNER: GLOBAL WINNER: GLOBAL WINNER: GLOBAL WINNER: GLOBAL WINNER: GLOBAL OVERALL OVERALL OVERALL OVERALL OVERALL OVERALL Companies in the Free Zone New company the highest annual growth since 2015 2,025 registrations 8,000+ member companies availed over 13,000 commercial offers and incentives in 2020 through DMCC’s largest ever business support package launched during the pandemic. 95 18,000+ 250,000+ per cent of new Registered downloads of the companies that form a companies in total Future of Trade DMCC had the honour of hosting His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice company in DMCC, start – DMCC’s flagship thought President and Prime Minister of the United Arab Emirates and Ruler of Dubai in June for a tour of the their journey digitally. leadership report DMCC Tea and Coffee Centres. ANNUAL REPORT 2020 ANNUAL REPORT 2020 Home to some of the world’s leading companies 10 11 ANNUAL REPORT 2020 ANNUAL REPORT 2020 IN NUMBERS TRADE HIGHLIGHTS People live and work in 100,000+ DMCC’s Jumeirah Lakes Gold Towers (JLT) district DMCC supported the UAE Ministry of Economy in developing the new UAE Good Delivery Standard to enhance the UAE’s position as a leading hub in the People are employed within global gold and precious metal trading landscape. 60,000+ the Free Zone F&B outlets within the JLT 600+ community DGCX 12 13 Companies register and 12.73M 7.7 join DMCC every single contracts traded and a total value of AED working day 1,177.73 billion (USD 320.69 billion) Annual growth rate over 28% the decade DMCC Coffee Centre Attendees registered and 7M A record breaking year joined DMCC’s 83 virtual 11,000+ kilograms of coffee were processed and handled webinars by the Centre Year-on-year increase in 20% Chinese companies joining the Free Zone DMCC Tea Centre Companies in 149 different 40,000 149 countries expressed interest metric tons were transacted through in setting up a business in the Centre DMCC through the Business Support Package ANNUAL REPORT 2020 ANNUAL REPORT 2020 The Number One Free Zone in the World DMCC was awarded Global Free Commenting on the award, Ahmed Zone of the Year 2020 by Financial Bin Sulayem, Executive Chairman and Times’ fDi Magazine for a record sixth Chief Executive Officer, DMCC said: consecutive year. DMCC also received the award for Middle East Free Zone “Receiving this prestigious award for of The Year. a sixth time is a special moment for everyone connected to DMCC. 2020 100 free zones were reviewed by the has placed immense pressure on us Financial Times’ specialist editorial all, but this award reassures us that we 14 team during the competition, including are on the right track. 15 a high concentration of peers in the Middle East region. By working together and constantly striving for higher standards, we have Candidates were assessed against come to embody Dubai’s hard work a range of criteria including growth and ambition as a global centre for rate, services, products and facilities trade that embraces all businesses available and importantly, the launch that share our vision.” of new key initiatives supporting companies in the free zone. NAMED THE With increased competition year-on- year, the accolade is testament to DMCC’s continued commercial appeal WORLD’S LEADING and ability to attract businesses of all sizes to its Jumeirah Lakes Towers FREE ZONE (JLT) community. by the Financial Times’ fDi magazine for a record sixth consecutive year. ANNUAL REPORT 2020 ANNUAL REPORT 2020 2,025 A record Free Zone breaking 2,025 new companies Located in the heart of Dubai, DMCC is a vibrant business joined DMCC in hub that continues to be recognised as the future of trade 2020 for commodities and enterprise.
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