DMCC Welcomes Over 2,000 New Firms In 2016
by Lorys Charalambous, Lowtax.net, Cyprus
14 April, 2017
The Dubai Multi Commodities Centre, a free trade zone in the United Arab Emirates, had a record breaking 2016, according to its recently released annual report.
The DMCC welcomed 2,016 new companies in 2016 – an average of seven new companies each working day. This is an increase of 14 percent on the previous year, and an average annual growth rate of 33 percent over the last decade.
The DMCC is now home to 13,500 companies, which it says makes it the largest and fastest growing free trade zone in the world.
Companies in the free trade zone today include Alcatel Lucent, American Express, Bulgari, Colgate-Palmolive, Duracell, Dyson, Eurofin, John West Foods, Louis Dreyfus, Lukoil, LVMH, Nutricia Danone, Tata International, TAG Worldwide, and Whirlpool.
Looking ahead, DMCC's Chief Executive Officer, Gautam Sashittal, said: "In 2017 we will continue to expand our international reach, form new strategic partnerships; and further enhance collaboration with key industry, trade and government entities locally and internationally, as we continue our journey as the world's leading Free Zone."
The DMCC is a free trade zone in the United Arab Emirates offering zero percent personal and corporate tax rates, as well as 100 percent capital repatriation with no currency restrictions.
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