Dubai Multi Commodities Centre (DMCC) recorded a 13% growth in companies from Singapore joining its international business district in the past 12 months.

The announcement was made during DMCC’s first-ever roadshow on the ground in Singapore as part of its efforts to attract Singaporean businesses to Dubai, according to a press release.

DMCC entered into a partnership with Hawksford, the international business services provider, to streamline company setup in its district.

Hawksford will provide advisory and registration, accounting and tax support to businesses, attracting new companies to DMCC, particularly from the technology, innovation, and sustainability sectors.

Ahmed bin Sulayem, Executive Chairman and CEO of DMCC, said: “Our first in-person Made For Trade Live roadshow in Singapore comes at a time of accelerating cooperation between our two nations, with bilateral trade reaching $18.70 billion last year.”

“This momentum is echoed by a 13% rise in Singaporean companies joining DMCC over the past 12 months, bringing the total to nearly 400, accounting for more than half of all Singaporean businesses in the UAE,” he added.

The CEO noted: “As our partnership deepens, our new agreement with Hawksford as our local partner will further reinforce DMCC’s position as the business district of choice for Singaporean firms seeking global expansion from Dubai.”

DMCC is currently home to more than 25,000 companies from 180 countries, covering every sector and industry.

The district contributes 15% of Dubai’s annual foreign direct investment (FDI) inflows and represents 7% of Dubai’s gross domestic product (GDP).