Tuesday 19 March 2019

Ahmed Bin Sulayem and Guolong Ma

DMCC partners with China investment fund

DUBAI, July 22, 2018

DMCC, a leading free zone and Government of Dubai Authority on commodities trade and enterprise, has signed an agreement with China’s Royal Fund Investments (RFI) to bolster bilateral trade relations between DMCC and a growing Chinese business community.

Ahmed Bin Sulayem, executive chairman of DMCC and Guolong Ma, CEO, RFI signed the memorandum of understanding (MoU) MoU at DMCC’s headquarters Almas Tower in Dubai, UAE.

“DMCC takes pride in collaborating with RFI in seeking out new ways for businesses to flourish by keeping doors to trade open. As a result of our new relationship with RFI, we have already met with businesses and government entities in Beijing last week, with more to come. The initiatives outlined in this MoU serve as a launch pad for Chinese businesses looking to grow in Dubai and beyond,” said Ahmed Bin Sulayem.

The MoU commits both parties to connect and provide attractive business solutions for Chinese corporates looking to set up in Dubai and the DMCC Free Zone; raise awareness around potential investment opportunities in DMCC’s much anticipated Uptown Dubai district; as well as awareness of the Dubai Gold & Commodities Exchange (DGCX) products available to market including Shanghai Gold Futures and Shariah Spot gold contracts.

Guolong Ma said: “There is a strong synergy between RFI and DMCC when it comes to our commitment to boosting business activities along the Belt & Road corridor. DMCC is a strong partner and we look forward to bringing the activities outlined in our MoU to life together.”

DMCC hosts over 15,000 member companies in its Free Zone, including a growing number of leading Chinese firms such as Hisense; Hikvision; China Petroleum Engineering & Construction Corporation (CPECC); China Petroleum & Chemical Corporation (Sinopec); China Harbour Engineering Company, Power Construction Corporation of China and CHEMCHINA. Chinese company registrations in DMCC have risen at an average annual growth rate of 46 per cent in the last five years.

DMCC has ramped up activity in China significantly. Last year, DMCC’s Dubai Gold & Commodities Exchange (DGCX) was the first foreign exchange to list Shanghai Gold Futures outside of China. Ahead of the DMCC Coffee Centre due to launch later this year, DMCC signed a strategic supply agreement with MCH and Yunnan State Farms, and last month, DMCC signed a knowledge transfer agreement with Meishan, representing the Ningbo Province. – TradeArabia News Service

Tags: China | DMCC | RFI |

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