/By Arabian Post Staff/ The success of DIFC and DMCC has inspired a US-based group to recreate the model in the western hemisphere.
The C-MCC Development Group LLC, a US-based development group, announced that it will establish the C-MCC Worldwide Free Trade Zone on Curacao island, patterned after the successful Dubai Multi Commodities Centre (DMCC) and the Dubai International Financial Centre (DIFC) located in the United Arab Emirates (UAE), as the Western Hemisphere’s gateway for international commodity trading, serving North, Central and South America, Europe, the Middle East, North Africa and Asia.
The C-MCC will integrate the proven business models of DMCC and DIFC, in Curacao, utilizing many of the key executives responsible for the rapid growth of DMCC. They will be supported by Curaçao’s remarkable resources including a deep-water harbor and airport, a burgeoning technology sector, and the country’s central location and reach into the markets of the Americas. The C-MCC Worldwide office will bring international commodities trading – both physical and electronic – in gold, diamonds, precious metals, precious stones and other commodities including oil, steel and coffee. This initiative will subsequently be followed by a second phase free trade zone development on the island, also under the management of C-MCC Worldwide.
Commenting on the project, Ian MacDonald, President of the C-MCC Development Group LLC, and former Executive Director of the DMCC in Dubai, said, “The vision to create free trade zones in an empty desert in Dubai was the catalyst in transforming the land into a thriving, robust modern economy with world class iconic buildings. During my tenure at DMCC we witnessed an influx of major global institutions and multinational corporations join the free trade zone.”
Similarly, C-MCC Worldwide’s aim is to provide an ecosystem of physical, financial, technological and regulatory infrastructure required to enable and streamline business, trade and establish Curacao as the Western Hemisphere’s premiere international trading hub and gateway to the world, thereby playing a decisive role in the economic evolution of Central and South America.
George Kearns, C-MCC Chairman and CEO, added, “I am delighted with, and have the highest confidence in the breadth and depth of the management team we have assembled. Their highly relevant experience, as with Ian MacDonald, is an exceptional resource for C-MCC and assures its future growth and success. As the first of its kind free trade zone in the Western Hemisphere, the team will drive the success of C-MCC Worldwide, supporting businesses and communities through this unique, centralized and proven value proposition.”
Demonstrating their commitment and support of this strategic collaboration, CEO René Römer of the Dutch Caribbean Securities Exchange (DCSX) stated: “the DCSX is highly enthusiastic about this development; the C-MCC can potentially bring so much business to and through our Island that the possibilities can probably not be grasped by many at this stage. Talking about Curacao as a financial, trading and logistics “hub”, this development could be, to use a modern term: really next level”.
Organizations participating in the long term lease signing, in addition to the C-MCC Development Group LLC and Curaçao Airport Holdings (CAH) included the following: Curaçao Airport Partners (CAP);Office of the Minister of Economic Development; Office of the Minister of Transport, Traffic and Urban Planning; StudioAcht Caribbean Architects B.V.; KPMG Corporate Finance; Dutch Caribbean Securities Exchange(DCSX); USSMART Congressional Initiative; Van Eps Kunneman/VanDoorne; International Preparedness Associates (IPA) Security; Blue Nap Americas (Tier 4 Network access point data center); UTS.