DMCC Barcelona roadshow highlights opportunity for growth in Dubai for Spanish firms, economic impact of Expo 2020 Dubai

DUBAI, DMCC, the world’s leading free zone and Government of Dubai Authority for commodities trade and enterprise concluded its ”Made for Trade Live” roadshow in Barcelona on 27th June, 2019.

Supported by the Consulate General of the UAE in Barcelona, the event gathered over 100 leading representatives of Spanish businesses to outline the commercial appeal of Dubai, and the significant opportunities created for foreign firms by Expo 2020 Dubai.

Underlining its position as a commercial hub and gateway for global trade, DMCC briefed delegates on the ease of setting up a business within its free zone, and Dubai’s appeal to international businesses as a platform for expansion given its strategic location and global connectivity.

Foreign direct investments, FDI, from Spain to Dubai reached AED3.29 billion in 2018, ranking Spain the fourth largest investor in terms of FDI capital inflows.

“This is an exciting time for the United Arab Emirates and especially its partners across Europe. By being open to the world, the UAE has created an economic environment that is both welcoming to investment and paves the way for sustained growth in the future,” said Mohamed Alshamsi, Consul General of the UAE to Barcelona.

Since inception, the DMCC has attracted over 3000 businesses from 17 cities around the world to its international roadshow programme. DMCC partnered with Spanish business group Foment del Treball, and bank Banco Sabadell to stage the event in Barcelona, which precedes roadshows in the second half of 2019 to Hangzhou and Qingdao in China, and Stuttgart, Trier and Koblenz in Germany.

“Following our first roadshow to Spain last year, it has been encouraging to witness a spike in interest from Spanish firms looking to operate out of DMCC and take advantage of the commercial opportunity presented by Expo 2020 Dubai,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.

In May 2019, Dubai FDI completed a successful trade mission to Madrid, Barcelona and Seville promoting Dubai as a preferred global investment destination and the advantages of doing business in the region. The DMCC has already taken steps to make it easier for Spanish firms to set-up in its Free Zone by launching a Spanish website last year.

“Our commitment is to support Catalan companies doing business in the UAE and our partnership with DMCC is a testament to that. We look forward to building stronger commercial and business ties in the region through DMCC,” added Victor Arguello, Director, Dubai Representative Office, Banco Sabadell.

Source: Emirates News Agency