Chicago, IL, January 15, 2018 --(PR.com
)-- Delract, Inc. announced today that it has established a new subsidiary in the United Arab Emirates to scale up its operations in the Middle East.
The company has established itself as one of the leading commodity traders in the Middle East. The company's offices in Southeast Asia - in Malaysia and Singapore - were directly responsible for predeal negotiations and the execution of contracts with Middle East-based clients. The company has now entered the UAE with a substantial capital investment to enhance its local presence and increase revenues in the region that has been a hub for global trade for more than a decade.
According to the annual World Bank report, while the UAE has always been a tax-free region, the country has steadily climbed the rankings in terms of ease of starting a business and access to credit.
"The trade environment in the UAE has always been exemplary, and is now rapidly maturing to a new level because of the steady inflow of foreign capital and talent," said Richard Ward, corporate spokesperson for Delract.
"We aim to generate at least $40 million in revenues through our new UAE subsidiary alone by the end of the year 2018. We are re-structuring our global operations to decrease cost of doing business and ensure that we attain net profitability of at least 13-15% on our worldwide revenues," he added.
About Delract Inc:
Founded in 2013, Delract, Inc. is an American multinational corporation based in Chicago, Illinois, United States with subsidiaries involved in manufacturing, trading, and investments globally.