DMCC Reports Significant 13% Growth In Singaporean Companies Joining Its Business District

DMCC has reported a 13% increase in the number of companies from Singapore joining its international business district over the past year. This announcement coincided with DMCC's inaugural roadshow in Singapore, aimed at attracting more Singaporean businesses to Dubai. Currently, DMCC hosts more than half of all Singaporean businesses operating within the UAE.

The roadshow allowed senior DMCC executives to interact with over 100 Singaporean business leaders. They provided customised insights on how Dubai can be a springboard for international expansion and investment diversification. Ahmed bin Sulayem, Executive Chairman and CEO of DMCC, remarked, "Our first in-person Made For Trade Live roadshow in Singapore comes at a time of accelerating cooperation between our two nations, with bilateral trade reaching US$18.7 billion last year."

In a move to simplify company setup processes within its district, DMCC has partnered with Hawksford, an international business services provider. Hawksford will offer advisory services, registration assistance, and accounting and tax support to businesses. This partnership is expected to attract new companies to DMCC. Tommaso Barindelli, Head of Business Development at Hawksford Dubai, stated, "This partnership marks a significant milestone for our firm and a valuable opportunity for our current and future clients."

Singapore is one of DMCC’s key target markets due to its opportunities in technology, commodities, and trade. The relationship between the two regions is strengthening as Singaporean firms look to enhance efficiencies through Dubai. With nearly 400 Singaporean companies now registered in DMCC, the district is solidifying its role as a vital gateway for Southeast Asian businesses aiming for global growth.

Currently home to over 25,000 companies from 180 countries across various sectors and industries, DMCC plays a significant role in Dubai's economy. The district accounts for 15% of Dubai’s annual foreign direct investment inflows and contributes 7% to the city’s GDP. This growth underscores DMCC's importance as an international business hub.

The collaboration between DMCC and Hawksford highlights the strategic efforts being made to attract more businesses from Singapore. By offering streamlined services and support, they aim to make Dubai an attractive destination for companies seeking international expansion.

This initiative reflects the broader trend of increasing cooperation between Dubai and Singapore. As bilateral trade continues to grow, both regions are poised to benefit from enhanced economic ties and shared opportunities.

With inputs from WAM