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DMCC Registered Companies Increased by 10% in H1 due to digital transformation
• By June 2015, a total of 10,624 companies registered in DMCC • All services are available on the internet 24/7 via any device • More than 160 companies register per month due to technology • Digital registration decreases the amount of paper used by 40% annually
Dubai Multi Commodities Centre (DMCC) has developed into a leading international commodity centre concerning enterprise and trade over the years. DMCC is the United Arab Emirates (UAE) largest-sized and fastest growing Free Zone. Currently, the leading Free Zone is home to more than 10,600 registered companies as during the first six months of 2015 the growth rate of registered companies increased by 10%, an increase mainly attributed to the DMCC digital conversion.
Thanks to the DMCC’s turn towards digital technology, the free zone has succeeded in registering more companies than was expected as well as interconnect all companies and the community. All the services and products the DMCC provides are available on the internet. Both technology and innovation are key features the DMCC has adopted to facilitate trade activity throughout the world and increase interaction amongst stakeholders.
In 2013, the DMCC launched the IT Free Zone transformation project and moved all Free Zone activities and operations to one of the most pioneering and modern IT platforms known as Saleforce. The DMCC also turned all its interactions and touch points with all member companies registered in the free zone. Therefore, all the services the DMCC provides are available and easily accessible online 24/7 via the use of any device.
Currently, the DMCC is the UAE’s only Free Zone that offers online DMCC company registration and licenses. Additionally, if an individual needs assistance or has an inquiry during the DMCC company registration process, qualified DMCC agents are available online 24/7 via live chat and DMCC portal.
Furthermore, due to the DMCC’s digital transformation the amount of paper consumed has decreased by 40%. Therefore, the DMCC is saving approximately 120 trees every year. In order to provide more security, every online document found on the internet is protected with a special security code that can be verified by all authorities. Thus, once a DMCC company has been registered, individuals may communicate electronically with all UAE authorities.
The DMCC’s aim has long been to offer an efficient ecosystem to all its members, where they could easily and practically conduct business. Currently, the DMCC offers members a diverse range of services including banking, mediation, insurance and real estate services, which can be accessed around the clock via the DMCC portal.
The DMCC has always supported efficiency and innovation. With the introduction of the electronic signature feature as well as other upgraded and improved features, the DMCC intends to develop even further within the technology field. DMCC’s goal is to boost its 84% member satisfaction rate even higher.
The DMCC’s digital transformation has not only transformed the way in which companies register, but also transformed the free zone’s community and culture as the manner in which companies interact, offer services and do business has changed completely. The DMCC is committed to continuously, efficiently and innovatively develop in order to retain growth rates at high levels.