DIFC sees 20% growth in member companies in 2020 despite the pandemic | The National

DIFC sees 20% growth in member companies in 2020 despite the pandemic | The National

The total number of companies operating at Dubai International Financial Center increased 20 per cent  
to 2,919 in 2020. Sarah Dea / The National

The number of new companies operating at the Dubai International Financial Center grew 20 per cent last year – the highest the financial hub has registered till date.

The total number of companies at the centre reached 2,919 last year with 915 new financial entities, the DIFC said in a statement on Tuesday. FinTech firms more than doubled to 303 during the period.

“DIFC’s best-ever annual performance in its history, achieved in the country’s 50th anniversary year, …reflect the UAE’s and Dubai’s ability to partner with its business communities to facilitate continued growth despite the most challenging conditions we have seen in the international economy,” Sheikh Maktoum bin Mohammed, deputy ruler of Dubai and president of DIFC, said.

The growth in 2020 "enhances the diversity and sophistication of DIFC’s financial ecosystem, further raising Dubai’s status as a major focal point for global finance and a growth multiplier for the industry”, he added.