Said Gautam Sahital, Chief Operating Officer of the operational center DMCC, and Non-Executive Director of the Dubai Gold and Commodities, said the center since its inception in in 2002, focused on the establishment of Dubai as a gateway global trade in goods, at the same time the center’s work on the development of its infrastructure physical, and financial , and the development of regulations, products, and services of a world-class, including the free trade zone in the Jumeirah Lakes Towers.
He Sahital during an interview with the magazine “Cayman Financial Previou,” The Free Zone in Jumeirah Lakes Towers, attracted companies from around the world, has chosen management operations from Dubai, companies are recent, and multinational companies, even the largest companies in the field of commodities. And to take advantage of Dubai’s ideal location, positioning the center of Dubai Multi Commodities physical infrastructure and finance at his disposal (ports, airports, and links, and stock exchanges), in order to secure trade between the peoples producing, and consuming.
It also developed a commodities trade through Dubai, with an emphasis on many sectors of commodities, such as gold, diamonds, and tea. He said that Dubai has become today within the major diamond trading centers in the world, having founded the Dubai Diamond Exchange in 2005, with the direct aim of encouraging diamond trade. It currently has more than 600 members of the diamond trade, while data show year, 2011 that the value of the import and export of diamonds through Dubai reached $ 39 billion. As well as Dubai is one of the world’s largest centers of trade physical gold, with circulation of more than 1200 tons worth increased to $ 56 billion in 2011.
He explained that the number of members of the Free Zone in the Jumeirah Lakes Towers exceeded, 5500 and contribute to the breeding of jobs, and the establishment of centers of expertise in new business sectors, which in turn contribute to bringing more business to the emirate. He said that companies Dubai Multi Commodities considerable contribute narrowly in gross domestic product (GDP) to Dubai.
He continued that tens of thousands of individuals rely directly or indirectly on the center for their livelihood. He pointed out that the free zone in the Jumeirah Lakes Towers, embraces infrastructure that helped prosperity, and within just 10 years the Center witnessed the 62 towers multipurpose around lakes four, with more than 160 stores for segmentation, registration of more than 5500 companies, while the number of individuals who work and live in this area about 50 thousand.
He added that the opportunities available are endless, saying: “If you are an entrepreneur, or from multiple companies congeners, Vmrkz DMCC offers you the right balance of infrastructure and regulations to ensure the right ingredients for your business.” He continued: “Our success speaks for itself,” he said, adding: The center continues to record 160 new members a month on average, and as a result became the Jumeirah Lakes Towers Free Zone fastest growing in the UAE. Carter said the flow of foreign direct investments through these companies is of the utmost importance, and is a crucial success factor for the UAE.
He said that the Arab Spring, and the European winter, Stay Dubai you as an attractive destination to establish a business more than ever, both relativism for entrepreneurs, or regional offices for adult players. And went on: Dubai has a unique geographical advantage, as an ideal crossroads for people producing and consuming countries.
He added that the center inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, Amir, cares, and brings the value chain full participants in the trade in goods, with all the required elements, such as finance, logistics, insurance, and regulations, manufacturing, and trading. He added: “It is important here not to rely on our laurels,” noting that the center is launching several new products and services during the first half of 2013 and that will support existing customers, and attract new members. He said that their goal is to attract 7,200 companies in the free zone by the end of this year, Abizaid and they’re on the way to achieve this goal.
On the future of the center, said the free trade zone in the Jumeirah Lakes Towers attracts businesses from all over the world. He pointed out that 85 percent of these new business to Dubai. And confirmed that they will continue in the creativity to ensure that members of the Partnership Center.
Through these efforts, “We want to empower global players, and regional and local recognition of the experience of the free zone as the best place from which to develop, and the development of business, and the center as an ideal partner in trade in goods.
“Partnership is not limited to licenses, and regulations that we provide and by, but also from the point of value-added services compatible with their business.” He explained that all member companies at the center benefit from the freehold of their buildings, and tax zero income for companies and individuals, and the rights of ownership of the business by 100 percent, in addition to facilities customer service in relation to all documentation processes, including licensing requirements. “We’re constantly working to improve our physical infrastructure, financial, and regulatory, products, and services to enable our members to grow their business, and to engage in trade with confidence from here.” And attributed to Ahmed bin Sulayem, Executive Chairman of the Centre as saying: “In the race for excellence there is no finish line.”
Asked about the outlook for cooperation between Dubai and Cayman, answered: They are keen to enhance bilateral trade opportunities beneficial, saying: “We have identified some specific opportunities, with a current focus on the fund management sector.
We have the infrastructure and the correct regulations and that will allow the funds in Cayman Island work seamlessly in Dubai, and give it the gateway to Africa, and Asia. Vemoqana geographical and transport network offers them a clear advantage. ”
He said that the free zones formed a key push factor for economic growth in Dubai, noting that they fully support the Cayman Island, and the work carried out to establish similar facilities. He added: The ease of doing business is the key to long-term success for companies and destination from which the business.
He continued: he wants to promote trade, and said that there is plenty of room for cooperation between the Cayman Centre for commodities and derivatives, and the Dubai Multi Commodities. He pointed out that both centers have enjoyed a privileged position in its segment of the world. And went on: “I believe that our partnership can provide for companies interested nearly limitless platform for processes that will help them interdependence from east to west, from north to south. Dubai and the Cayman can play a similar role to connect the hemispheres north and south, or people producing, and consuming. ”
Carter said the free zone in the Jumeirah Lakes Towers, check big benefit of a shared vision, and the strong support he received from the Government of Dubai following up: “It really enables us to provide to our members from companies the right mix of products and services, both from the point of license, or commercial support on wider. Our focus on our members, and our customers is essential, and the success of our members contribute to the success of Dubai. ”
