Hamdan bin Mohammed praises the role of the Dubai Center for Multiple Commodities in promoting international trade and attracting investment

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense, and Chairman of the Executive Council of Dubai, visited today, Monday, the Dubai Multiple Commodities Center, the leading free zone in the world and the authority of the Dubai government specialized in the trade of goods and projects, where His Highness made an inspection tour on the Dubai Diamond Stock Exchange, the largest exchange for diamond tenders in the world, and the visit coincided with the announcement of the center recently for an investigation A qualitative achievement by trading more than a billion carats of rough and polished diamonds during the past five years, which established Dubai’s leading position on the international diamond map.

His Highness was received upon his arrival at the Dubai Multiple Commodities Center, Dr. Hamad Bouamim, Chairman of the Center’s Board of Directors; Ahmed bin Selim, the first CEO and Executive Director of the Center, and Ferial Ahmadi, Deputy Executive Director and CEO of Operations at the Dubai Multiple Commodities Center.

His Highness made a field tour, accompanied by Omar Sultan Al -Ulama, Minister of State for Artificial Intelligence, Digital Economy and remote work applications, in the Dubai Diamond Exchange facilities, during which he looked at a selection of raw and polished diamonds, and colored gemstones, in addition to laboratory produced diamonds. His Highness also listened to a detailed explanation about the integrated system managed by the Center for Diamond Trading, including the strategic expansion of the American Institute of Deceptions within the center of the center of the center of the center.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said: “The Dubai Center for Multiple Commodities is a basic tributary in stimulating the movement of global trade and investment flows towards Dubai, and consolidating the emirate’s position as an international business center.”

His Highness added: “We go with a steady pace towards strengthening the process of economic diversification according to the Dubai Economic Agency (D33), and the center comes at the forefront of this shift by building integrated economic systems, characterized by efficiency and openness to the world, drawing the best creators and innovators, competencies, and capital towards sectors of priority supporting the future of the emirate.”

During the visit, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum also reviewed the most prominent developments in the organizational environment, policies and infrastructure that contributed to the consolidation of Dubai and the UAE’s position as a leading global center on the map of raw diamond trade. The accelerated growth of the state in the polished and productive diamond sector, in addition to its pivotal role as president and sponsor of the Kimberly process, contributed to strengthening Dubai’s position as a future center characterized by innovation and responsibility, and has an increasing international confidence and provides a model for the distinction in the global diamond industry.

In conjunction with the visit, the Dubai Center for Multiple Commodities announced the launch of the “2033 strategy”, a new ambitious vision that puts specialized systems at the heart of its plan to expand and grow during the next decade. The strategy includes the development of advanced global centers in the diamond, gold and energy sectors, as well as launching future platforms in the areas of artificial intelligence, the third generation of the web 3 network, blockchain, electronic games, with the aim of accelerating the growth of the vital global sectors through an integrated system of value -added services, which include specialized licenses, advanced infrastructure, and access to capital And specialized qualitative experiences.

The strategy relies on a firm business model that made the Dubai Multiple Commodities Center one of the most developed free zones in the world. As the upward momentum continues in all activities of the center, the number of registered companies is expected to exceed 26 thousand companies at the end of this year.

The center contributed to supporting the qualitative urban transformation witnessed by the areas of the Jumeirah Lakes and Lustown Dubai, which were developed into two vibrant sides that combine the elements of the modern living pattern and the prosperous business societies, reflecting the pivotal role played by the Dubai Center for Multiple Commodities and its contribution to forming the economic and urban scenes in the emirate.

The center currently includes more than 25 thousand registered companies, and in recent years it has witnessed remarkable growth in the number of startups and entities operating within the new emerging sectors, such as the third generation technology of the “Web 3” network, Cripto, electronic games, and artificial intelligence.

The visit concluded with the gift of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, a special edition of the “Future of Trade 2024” report issued by the Dubai Multiple Commodities Center, which monitors dynamic transformations in the world trade scene, and reviews the most important directions in drawing the features of international markets.

The center derives its success from balanced expansion in both traditional and emerging sectors. Over the past five years, the gemstone system recorded a remarkable growth of 177%, the precious metals by 74%, and the power sector by 72%, while the coffee and tea trade continued its strong performance. On the other hand, the modern technology center systems witnessed an accelerated growth, which reflects the growing position of Dubai as a global axis of innovation. This continuous growth comes at a time when the center enhances its fundamental contribution to the Dubai economy, as it currently contributes about 15% of the total foreign direct investment flows to Dubai, and nearly 7% of the governorate’s gross domestic product.

Pioneer
On this occasion, Dr. Hamad Bouamim, Chairman of the Dubai Center for Multiple Commodities, said: “The visit of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum represents a clear support for the pivotal role played by the center in consolidating the UAE’s leading position on the international diamond trade map, and strengthening the Dubai site is a distinguished center within a wide range of future sectors. Through our long -term investment approach, our bold policies, and our partnerships The international strategy, the center succeeded in building an integrated economic system that supports growth in the sectors of goods, technology, services and innovation. With the acceleration of the achievement of the implementation of the Dubai Economic Agency D33, the center will continue from its integrated model its vital role in attracting investments and international companies, and the establishment of Dubai’s position is a leading international destination for trade and the new economy.

For his part, Ahmed bin Selim, the first CEO and Executive Director of the Dubai Center for Multiple Commodities said: “Supporting and directed the rational leadership, we continue to consolidate our presence and our role by supporting our vital areas in the Jumeirah and Laftown Dubai Towers, and attracting the elite of international institutions, and leading specialized dialogues in various sectors, the Dubai Multiple Commodities Center contributes to the formation of the future of trade from Dubai.

He added: “The Dubai Center for Multiple Commodities, starting from the gemstones sector and passing through energy to the emerging sectors such as artificial intelligence, web 3, and blockchain, are keen to build interconnected and developed systems, capable of adapting to the requirements of the future, in a way that supports companies and businesses from growth and prosperity. We expect that the number of companies registered with us will exceed the 26 thousand companies at the end of this year. Dubai Multiple Commodities Center, by enhancing the foundations of a culture of innovation, principles of integrity and sustainable growth, performing its pivotal role in translating the national economic agenda targets, as well as strengthening Dubai’s position as a leading global center for trade and business.

Quality initiatives
In turn, Feryal Ahmadi, Deputy Executive Director and CEO of Operations at the Dubai Multiple Commodities Center said: “The Dubai Multiple Commodities Center confirms its position as a major driver in drawing features of the future of global trade, through qualitative initiatives ranging from redefining the auction market in the diamond sector, speeding up growth in the fields of web 3, artificial intelligence, and sustainable trade.

She added: The center’s strategy 2033 aims to build interconnected and flexible economic systems, and is able to adapt to variables, which in turn enhances innovation and supports sustainable growth. In light of the rapid transformations in the global economy, Dubai continues to establish its position as a leading global center that combines dynamism, accountability, and future vision, which makes it the best choice for companies, investors and entrepreneurs in various sectors.

Since 2021, the UAE has succeeded in maintaining its position at the forefront of raw diamond trade globally, with a rapid registration in the polished and productive diamond sectors. The polished diamonds are currently about half of the total value of the diamond trade in the country, while the value of trading in the produced diamond sector has exceeded 3.7 billion dirhams during the past year only. The Dubai Multiple Commodities Center has played a pivotal role in establishing Dubai’s position as a leading global center in the manufacture of diamonds and gemstones, through the Dubai Diamond Stock Exchange and its integrated system, which includes more than 1,350 specialized companies. The center provided an advanced infrastructure, a flexible organizational environment, and a prominent international relationship, all of which contributed to facilitating trade operations in all diamond categories smoothly and highly efficient.

In 2024, the Dubai Diamond Stock Exchange hosted 85 auctions, which clearly reflects its pivotal role as a central platform for the global community for diamond trade. This vital role enhances the presence of the Kimberly and the Dubai Center for Multiple Commodities in the Stock Exchange, as well as the launch of a group of industrial initiatives and events related to sectors, such as the Best Tender Practices Forum, which contributes to the consolidation of the highest standards of security, compliance, transparency, and participation at the market level. The continuous expansion of prestigious international institutions, most notably the American Institute of Gemstones in the “Abitown Dubai” region, reflects the advanced global position of the Emirate of Dubai today as a pioneering center for diamond trade that covers all stages of the value chain.

The Dubai Multiple Commodities Center continues to play a pivotal role in drawing the features of the future of trade through a wide range of sectors. The center currently includes more than 25 thousand companies representing 180 countries, thanks to its advanced infrastructure, flexible organizational frameworks, and specialized systems that enable companies to grow and prosper in the fields of goods, financial services, and emerging technologies. Through specialized systems, such as the Crypto Center, the Games Center, and the Artificial Intelligence Center, as well as the tea and coffee centers, the Dubai Multiple Commodities Center enhances Dubai’s position an integrated axis of traditional and digital trade alike, and contributes effectively to enabling the new generation of entrepreneurs, supporting the innovation system, and pushing the global trade wheel towards new horizons.