By the end of 2023, the Dubai Multi Commodities Centre (DMCC), the largest free-trade zone in the United Arab Emirates, hosted a total of 852 Chinese companies, up almost 25% from the previous year, the latest DMCC data showed, reports Caixin. The data, issued on Monday, came after the conclusion of three investor roadshows conducted by the DMCC in China, with the center’s executive chairman and chief executive Ahmed Bin Sulayem highlighting in a statement the “consistent 25% growth in Chinese companies joining DMCC” for the past two years.
DMCC also said that its data indicated that of an estimated 6,000 Chinese enterprises operating in the UAE, over 14% are based in the zone.
Many Chinese firms see Dubai as their first stop in their expansion into the Middle East because of the emirate’s open-door policy designed to attract foreign investment, said Zhang Chen, a senior partner at Yingke Law Firm’s Shanghai office.