DMCC Unveils New Financial Centre to Boost Dubai Finance
Dubai is taking significant steps to bolster its finance and fintech sectors with the introduction of a new Financial Centre under the Dubai Multi Commodities Centre (DMCC). This initiative aims to position the city as a leading global financial hub, fostering innovation in trade finance, fintech, and digital assets.
Overview of the New Financial Centre
The announcement of the Financial Centre coincided with the conclusion of DMCC’s “Made For Trade Live” roadshow in Vietnam, which attracted over 550 business leaders from Hanoi and Ho Chi Minh City. This new hub will create a collaborative environment for banks, fintech companies, accelerators, and investment firms, forming an integrated community designed to enhance financial services.
DMCC has described the Financial Centre as the “financial spine” of its ecosystem, which currently supports 26,000 member companies. The centre aims to improve access to global capital markets, further solidifying Dubai’s reputation as a financial powerhouse.
Strategic Shift Towards Financial Services
This initiative follows the establishment of the DMCC Wealth Hub, which focuses on family offices and private capital. It also builds on DMCC’s partnership with the Virtual Assets Regulatory Authority (VARA), highlighting a strategic shift from a commodities-driven model to a more diversified platform that encompasses finance, digital assets, and technology.
Ahmed Bin Sulayem, the Executive Chairman and CEO of DMCC, emphasized that the new Financial Centre will enhance connectivity for member companies to the global financial system, thereby supporting Dubai’s ambition to rank among the world’s leading financial hubs.
Strengthening Economic Ties with Vietnam
The recent roadshow in Vietnam underscored the growing economic relationship between the UAE and Vietnam, particularly following the signing of the Comprehensive Economic Partnership Agreement (CEPA) in 2024. Non-oil trade between the two nations reached USD 7.02 billion in the first half of 2025, marking a nearly 17% increase from the previous year. This figure is projected to rise to USD 20 billion in the coming years.
DMCC is already home to over 670 Southeast Asian companies, including a growing number from Vietnam engaged in sectors such as agri-commodities, energy, and technology. The roadshow provided insights to Vietnamese firms on leveraging Dubai and DMCC as a base for global expansion, with a focus on industries like agri-commodities, artificial intelligence, and digital infrastructure.
FAQs
What is the purpose of the new Financial Centre in Dubai?
The Financial Centre aims to create an integrated community for banks, fintech firms, and investment companies, enhancing access to global capital markets and supporting DMCC’s member companies.
How does the Financial Centre fit into DMCC’s overall strategy?
The centre represents a shift from a commodities-focused model to a broader platform that includes finance, digital assets, and technology, aligning with Dubai’s goal of becoming a leading global financial hub.
What impact does the UAE-Vietnam CEPA have on trade?
The CEPA has strengthened economic ties, leading to a significant increase in non-oil trade between the UAE and Vietnam, which is expected to continue growing in the coming years.
Conclusion
The establishment of the new Financial Centre by DMCC marks a pivotal moment in Dubai’s evolution as a financial hub. With plans to enhance connectivity and support for member companies, this initiative is set to drive economic growth and innovation in the region. Further details are anticipated at the upcoming Dubai Precious Metals Conference, where the project will be elaborated upon.
The new Financial Centre is part of a broader trend in Dubai’s economic landscape, which has seen significant investments in technology and innovation across various sectors. As the city continues to diversify its economy, the focus on finance and fintech is expected to attract both local and international talent, further enhancing its status as a global business hub. The initiative aligns with the UAE’s Vision 2021, which aims to create a competitive knowledge economy.
Moreover, the establishment of the Financial Centre is likely to encourage collaboration between traditional financial institutions and emerging fintech startups. This synergy can lead to the development of new financial products and services, fostering a culture of innovation that is essential for sustaining growth in a rapidly evolving global market. As Dubai positions itself at the forefront of financial services, the implications for regional economic development could be substantial, potentially influencing neighboring markets as well.
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