DMCC Records 13% Surge in Singaporean Businesses Joining its Dubai District
Dubai Multi Commodities Centre (DMCC) has reported a 13 percent rise in Singaporean companies joining its international business district over the past year, underscoring growing economic ties between the UAE and Singapore.
The announcement came during DMCC's first-ever roadshow in Singapore, where executives engaged with more than 100 business leaders to promote Dubai as a global hub for expansion. DMCC now hosts over half of all Singaporean firms operating in the UAE, with nearly 400 companies based in its district.
To further support this growth, DMCC signed a partnership with Hawksford, a global business services provider, aimed at streamlining the setup process for new entrants. Hawksford will offer advisory, registration, tax, and accounting services to facilitate a smooth transition for Singaporean firms entering the Dubai market. 'Singapore represents a key strategic market for us,'
said Ahmed bin Sulayem, Executive Chairman and CEO of DMCC. 'Our first in-person Made For Trade Live event in Singapore reflects the accelerating cooperation between our nations.'
Bilateral trade between the UAE and Singapore reached US$18.7 billion last year, highlighting the strength of their economic relationship. With growing demand from sectors like technology, commodities, and trade, Dubai is positioning itself as a preferred base for Southeast Asian businesses seeking international scale.
Tommaso Barindelli, Head of Business Development at Hawksford Dubai, called the partnership 'a valuable opportunity' for clients looking to expand globally.
DMCC is currently home to more than 25,000 companies from 180 countries and contributes 15 percent to Dubai's annual foreign direct investment inflows and 7 percent to its GDP.
News Source: Emirates News Agency
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