Dubai Multi Commodities Centre (DMCC), the authority on trade, enterprise and commodities in Dubai, UAE has been named ‘Global Free Zone of the Year’ 2016 by The Financial Times fDi Magazine, for the second year running.

The annual global survey, considered the most prestigious free zone rankings in the world, is based on criteria such as outstanding performance year on year, growth and expansion plans, strong customer offering and presence of high growth industries. The DMCC Free Zone was recognised for its sustainable growth, strong customer service and its eco-system model which offer businesses everything they need to set up, whether a branch office or full operations, in one place.

Ahmed Bin Sulayem, executive chairman, DMCC, said: “Winning ‘Global Free Zone’ for the second year in a row is a tribute to the 12,700 companies which make up the DMCC Free Zone and contribute to our success every day, driving growth, dynamism and innovation.  Perfectly positioned where East meets West and North meets South, DMCC is proud to have become a global market place, the largest and fastest growing Free Zone in the world.”
 
Gautam Sashittal, chief executive officer, DMCC, said: “These accolades reaffirm the DMCC’s position as the number one destination for trade and enterprise. Ranked number one out of 60 Free Zones around the world is a huge achievement and demonstrates clearly, the benefits of digitalisation and a world class customer experience, as well as the benefits of creating vibrant industry clusters. Winning these awards affirms once again that the DMCC Free Zone truly provides a connected marketplace enabling the 12,700 plus companies to trade with confidence and grow their businesses.”

DMCC has grown exponentially since its formation in 2002 and today has more than 12,700 member companies with 87,500 workers and residents from over 170 countries based in its Free Zone.

With seven new companies setting up a business every working day, DMCC is home to many of the world’s best-known corporations including; Alcatel Lucent Mena, American Express, Carrera Y Carrera, Colgate-Palmolive, Dyson, Duracell, Eurofin, John West Foods, Lukoil, LVMH, Nutricia Danone, Oddfjell, Rio Tinto – Dimexon and TAG Worldwide.

Courtney Fingar, editor-in-chief, fDi Magazine, a Financial Times publication, said: "The high quality of entries received for our Global Free Zones of the Year awards makes for an extremely competitive field, and choosing winners is difficult. However, DMCC once again stood out for its all-around excellence, increasing numbers of member companies, growth prospects and its well communicated offering to companies of varying sizes and sectors from all across the world. These are some of many reasons why we are pleased to name DMCC our Global Free Zone of the Year for 2016."

fDi’s annual Global Free Zone Awards are considered the most prestigious free zone ranking in the world. A panel of judges from fDi is appointed to study each location and nominate their winning and runner-up free zones in each region.

DMCC Free Zone was also awarded four other accolades in fDi’s global Free Zone rankings:

•Global – Free Zone of The Year
•Global – Free Zone of The Year for SME’s
•Middle East - Free Zone of the Year
•Middle East– Free Zone of The Year for SME’s
•Global - Specialism Award - Trade & Commodities - TradeArabia News Service