The Dubai International Financial Centre (DIFC), the financial and business hub connecting Dubai with the developed markets of Europe, Asia and the Americas, has posted an up-beat report on its performance in the first half of 2011.
A total of 64 companies joined DIFC in the first six months of 2011, bringing the number of active registered companies operating in the Centre up to 813. 44% of new regulated companies in the first half of 2011 came from the Middle East and Asia, 50% from Europe and North America, and 6% from the rest of the world.
Abdulla Mohammed Al Awar, Chief Executive of DIFC Authority, said:
“In 2010, DIFC focused on developing and implementing its new business strategy which centred on growing our existing client partnerships. We have successfully carried this through into 2011 and have seen the evolution of DIFC continue, adapting to the rapidly-changing environment around us.”
“The outlook for economic growth in the region continues to be strong due to the long-term fundamentals, particularly its abundance of natural resources and youthful populations, as well as the benefits of economic integration through the GCC Common Market and larger Free Trade Area.”
“DIFC, with its modern infrastructure, free zone status and self-governing laws and courts, is uniquely positioned to support this growth in the region and to continue to be a major contributor to the UAE and wider region economies.”
Recently the achievements of DIFC were recognized by the Xinhua-Dow Jones International Financial Centres Development Index 2011, which provides a ranking of 45 international financial centres in terms of development capacity. Dubai was ranked 8th globally in terms of growth and development and maintained its status as the leading financial centre between Singapore and Europe. It also topped the financial centres in the Middle East in the latest edition of the Global Financial Centres Index.
Marwan Ahmad Lutfi, Deputy Chief Executive and Managing Director of Business Development and Services added:
“2011 marked the beginning of a new phase in DIFC’s development as one of the leading global financial centres. We are focused on expanding our existing client partnerships and on attracting new players to drive the development of the financial services market in the region. This has translated in the number of existing clients expanding their presence in the Centre, and the strong pipeline of companies and applications currently being processed."
The DIFC has also just announced the appointment of a new Governor, Abdullah Mohammed Saleh, replacing Ahmed Humaid Al Tayer with immediate effect.
LAWANDTAX-NEWS.COM
