(MENAFN) The Dubai Multi Commodities Center (DMCC) free zone's executive chairman, Dr. Ahmed Bin Sulayem, stated that in two years, the free zone will become a global center for gold trade, reported Xinhua News.
Sulayem said that strong demand from various markets will boost the zone's position to become one of the world's hubs for precious metals, noting that nearly 20 percent of global gold trade flows in Dubai, and the emirate aims at raising the portion to 50 percent.
He added that in 2 years, the emirate is projected to host more than 10,000 registered companies.
It is worth noting that DMCC was founded in 2002 as a tax-free commodities market.
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