Dubai: The Dubai Multi Commodities Centre Authority (DMCC), the licensing authority for the Jumeirah Lake Towers (JLT) free zone, has licensed over 3,000 companies.
Since the beginning of 2011, DMCC has registered an average of over 100 companies a month, growing by 65 per cent compared to the same period in 2010.
"In January we announced record performances in 2010 when we registered 725 new companies in that period which was our best performance. What we've seen in the first four months of this year was a continuation of that," said Malcolm Wall Morris, CEO of DMCC.
According to DMCC, 93 per cent of 2011 registration are companies that are either internationally based or new to the emirate.
"JLT remains the fastest growing free zone in the UAE and we are pleased to see that the vast majority of company registrations are new to the region, with particular interest coming from Europe and India," said Morris. "The vision was to create this commodity free zone to attract business and trade into Dubai. It wasn't about attracting businesses that were already here and were the seeing the culmination of all that work coming to the fore," he said.
The countries were evenly spread with 25 per cent coming from Europe, 20 per cent from the Middle East and North Africa (Mena) region, 17.5 per cent from India and Asia and the remainder from the rest of the world.
Gulf News
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