DP World has launched the Global Business Corporation (GBC).
The new strategic arm focuses on supporting large companies in achieving growth ambitions.
The initiative invites companies to enhance their international operating models with a base in the emirate.
The GBC aims to raise awareness of Dubai’s strengths and benefits as a location for high-value centralised business operations of large companies, such as headquarters, functional centres of excellence, and finance and treasury hubs.
GBC can provide business set-up and licensing – under unique common law-based GBC Regulations – for large companies that wish to set up a limited liability entity or branch in Dubai.
READ: DP World forecasts stable growth as revenues top $8 billion
A GBC license permits a foreign or domestic corporate group to own and operate a business management entity, allowing them to build a wide range of functional expertise and regional management capabilities as well as intellectual property, based on their strategies, operational needs, and capital requirements.
GBC companies registered in the Jebel Ali Free Zone (Jafza) can also be used as holding companies.
DP World believes GBC will help companies access a comprehensive portfolio of business enablement solutions and a thriving business ecosystem in Dubai to facilitate new opportunities for businesses to expand their operations in Dubai.
“Dubai’s location provides easy access to vast opportunities in the emerging markets of the Middle East, Africa, Europe, and the CIS,” said Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World.
“With the growth of manufacturing in this region, our air, sea, road, and rail infrastructure seamlessly connect Dubai to markets all over the world. Dubai’s world-class business-enabling infrastructure, access to highly skilled talent pools and its ability to offer an array of strategic advantages make it one of the globe’s most growth-friendly business hubs.”
GBC is complementary to the coalition of Dubai’s foreign direct investment advocacy and advisory groups. GBC will further enhance Dubai’s ability to add value and agility to corporations establishing their headquarters or regional hubs in the city.
In August DP World announced a partnership between CARGOES Finance By DP World and TuningBill, the business-to-business neobank.
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