DMCC, a prominent free zone and Government of Dubai entity focused on commodities trade and enterprise, aims to draw a fresh influx of American companies to its Dubai business district, strengthening its role as the base for over 45 percent of US businesses in the UAE. DMCC is keen to maintain the UAE’s position as the leading recipient of US foreign direct investment in the Middle East. The free zone recently updated American businesses on Dubai’s distinctive, business-friendly atmosphere, top-tier infrastructure, and numerous opportunities available for American entrepreneurs during its second Made for Trade Live roadshow in the US this year. A DMCC delegation visited San Francisco, California, and Denver, Colorado.
The free zone, which houses over 24,000 businesses worldwide, includes nearly 700 US companies, representing more than 45 percent of the estimated 1,500 American businesses in the UAE. With bilateral non-oil trade hitting a record high of $31.4 billion in 2023, DMCC identifies substantial potential for American businesses seeking to establish a regional presence and expand operations from Dubai.
“Dubai has long been the preferred hub for American companies in the region. The record levels of trade and investment last year underscore this, and the ongoing appeal of Dubai for US companies due to our market size, infrastructure, trade connectivity, and ease of doing business,” stated Ahmed bin Sulayem, executive chairman and CEO of DMCC.
“With almost 700 US companies in our district, we account for nearly half of the American business presence in the UAE – a position we aim to strengthen as we expand our business ecosystems and explore the vast potential in sectors like tech, AI, energy, and more,” added Sulayem. DMCC represents 15 percent of all foreign direct investment in Dubai, up from 11 percent last year, and 7.0 percent of the emirate’s GDP, estimated at Dh430 billion in 2023.
According to UN Trade & Development, global FDI flows in 2023, estimated at $1.37 trillion, increased by 3.0 percent over 2022. However, excluding large European deals, global FDI flows were 18 percent lower. Dubai attracted an estimated Dh39.26 billion in total FDI capital during 2023. Ranking 19th globally for FDI attractiveness, the UAE offers a favorable environment for American companies due to its business-friendly policies and diversified economy. A series of bold reforms, including 100 percent foreign ownership and long-term visas, have opened new avenues for international companies, particularly in technology and manufacturing.
The UAE maintained its position as the top US export destination in the Middle East and Africa for the fifth consecutive year in 2023. US exports to the UAE reached $24.8 billion in 2023, a 19 percent increase over 2022. These exports support 125,000 jobs in the US, while UAE exports to the US totaled $6.6 billion in 2023.
