DMCC will stage the fourth edition of the Dubai Diamond Conference (DDC) on September 26th at the Almas Conference Centre, Almas Tower, Dubai, United Arab Emirates. The one-day conference gathers global industry professionals to discuss the impact of technological innovation on the diamond industry, its supply chain and future prospects.
Fluctuating prices and profitability combined with increased compliance requirements has seen the diamond industry go through a period of profound change. The pervasiveness of disruptive technology is also significantly altering the traditional methods of diamantaires around the world; especially in terms of processing, valuation and trade, DMCC said.
Over 400 influential delegates are expected to register for DDC and debate modern market forces, and examine how diamond companies can best adapt to remain competitive. In a little over two decades, Dubai’s diamond industry has grown into one of the largest in the world with over AED92 billion ($25 billion) traded through the emirate in 2018 alone.
“We realise that the industry is at an inflection point. The objective of the Dubai Diamond Conference is to convene the industry, debate the state of the current market and understand how best to adapt. The insights shared during DDC will help charter a path for the growth of the industry,” said Ahmed Bin Sulayem, executive chairman and chief executive officer, DMCC.
“Technology holds one of the keys to unlocking the potential within the current challenging diamond sector. We acknowledge that adopting the latest innovations will help diamond specialists redefine the supply chain and in return, realise untapped opportunities. Situated at the crossroads of the world, Dubai has become one of the leading diamond trading hubs so there simply is no better place to have this important discussion,” he added.
DDC will open with keynote speeches by diverse specialists who will provide a synopsis of the current global diamond industry and compare it to others that have faced similar challenges. Speeches will be followed by three engaging panel discussions where speakers will shed light on the latest trends in the diamond supply chain, including mining, polishing and trading, as well as process automation and technology-based judgement. The conference will also touch on the rise of lab-grown diamonds and their value proposition to a niche consumer base, in addition to the social value created by the diamond industry.
September 2019 is a significant month for Dubai and its relationship with the international diamond industry. Immediately before DDC, the World Federation of Diamond Bourses (WFDB) and International Diamond Manufacturers Association’s (IDMA) Presidents Meeting will take place in the emirate on September 24th and 25th. On the evening of September 25th, DMCC will also officially unveil its redesigned and upgraded Dubai Diamond Exchange (DDE), a state-of-the-art trading floor located in Almas Tower, Jumeirah Lakes Towers.
Caption: A view of the Jumeirah Lakes Towers district. © Umar Shariff / Shutterstock.com