Editor’s Note
In an exclusive interview, DMCC Chairman Ahmed Bin Sulayem highlighted Korea’s agility in adopting industrial trends and expressed strong confidence in Busan’s potential to become a leading crypto hub in Asia, drawing parallels with Dubai’s successful model.
Ahmed Bin Sulayem, Chairman of DMCC, emphasized this in a meeting with this newspaper on the afternoon of the 27th. Chairman Bin Sulayem visited Busan to deliver a keynote speech at the ‘Blockchain Week in Busan (BWB) 2022’ conference held at BEXCO, Haeundae-gu, Busan, earlier that day.
DMCC is the largest free trade zone in the Arab world and has been named ‘Free Zone of the Year’ by the Financial Times for eight consecutive years since 2015.
Established in 2002, DMCC started with futures trading of metals like gold and silver. It has now become the first exchange in Dubai to trade diamonds and also trades coffee and tea. Notably, it gained attention last year by establishing the ‘DMCC Crypto Centre’ after recognizing the growth potential of the blockchain industry. Currently, over 450 blockchain and Web3 companies are located in the DMCC Crypto Centre.
Regarding the background of DMCC’s remarkable growth among free trade zones worldwide, Chairman Bin Sulayem pointed to DMCC’s unique infrastructure. He explained, “I believe it’s because DMCC is not just a place for trading goods; we have well-established infrastructure so that member companies can resolve difficulties within DMCC itself.” It is praised for being business-friendly, with its own well-built coffee and tea centres for member companies to use freely, as well as co-working spaces, warehouses, and rental systems.
Finally, he advised, “If Busan leverages its strengths in industries like games, content, and coffee, links them with the blockchain industry, and provides policy support, it can sufficiently grow into a blockchain free trade zone. Invest in blockchain education and benchmark overseas cases.”