The Dubai Multi Commodities Centre (DMCC), the United Araba Emirates largest free-trade zone, has launched the DMCC E-Commerce Ecosystem with the intent of accelerating ecommerce growth across the Middle East and North Africa (MENA) region. Ecommerce in the region is expected to total $50 billion annually by 2025, up from $32 million currently.
The new ecosystem, which designed to support e-commerce entrepreneurs and small and medium businesses, is being launched in partnership with The Box, a provider of long- and short-term self-storage options in the Mideast. The Box DMCC Accelerator Program will provide members with access to a wide range of storage solutions, from lockers to warehouses, as well as subsidized rates for storage and DMCC licensing. Other member benefits include one-on-one mentorship sessions, tailored workshops and access to exclusive networking opportunities with DMCC’s community of over 22,000 businesses.
“Rapid digitalization across the United Arab Emirates and the wider region is driving growth in the e-commerce sector at an unprecedented rate. This growth is being compounded by trends such as social media influencers selling products through their channels, as well as established brands increasingly turning to online sales,” DMCC executive chairman and chief executive Officer, says in a prepared statement. “As such, there is a timely and apparent need for a comprehensive platform that provides everything e-commerce businesses need to succeed.”
The DMCC was established in 2002 to provide the physical, market and financial infrastructure required to establish a hub for global commodities trade. It claims to be the world’s most interconnected free zone and the leading trade and enterprise hub for commodities.
Companies interested in joining the DMCC E-Commerce Ecosystem can choose from three packages: Basic, Starter and Premium+. Ecommerce businesses will receive up to a 50% discount on a DMCC business license, a co-working desk or private office space and storage solutions through The Box.
DMCC’s e-commerce business licenses cover a wide range of activities within the sector, including trading, payment services, delivery services and related consulting services.
“Storage, fulfilment and last mile delivery are critical to the success of any e-commerce business,” Wadih Haddad, founder and chief executive for The Box, says in a prepared statement. “We are delighted to partner with DMCC to support the ever-growing needs of the e-commerce ecosystem by providing access to our state-of-the-art infrastructure enabling e-commerce entrepreneurs and [small and medium businesses] to fulfill their brand promise. We are proud to support the thriving sector through our joint accelerator program, which is set to have a tremendous impact on the e-commerce community across the region.”