According to an annual report published on Sunday, the contribution of Dubai’s free economic zone Dubai Airport Freezone (DAFZA) to the non-oil sector of the emirate was 7 % during 2017.
The number of companies registered in DAFZA had a growth by 25 % compared to 2016, with the share of transnational companies accounting for 36 % which is 13 % more than in 2016.
DAFZA also managed to increase the rented area by 6 % and the number of registered small and medium-sized enterprises by 27% of growth.
High results were achieved by Dafza as part of the implementation of the frizon strategy to attract foreign direct investment, which includes a plan to attract investors working in leading markets and in the most developed sectors of the economies of the Middle East and North Africa.
DAFZA’s progress in previous year emphasize its key role as one of the most advanced economic zones in the world. The resume underscore DAFZA’s role in sustaining the strategy of diversifying the UAE and strengthening investment and trading activity in Dubai and the nation. It also corresponds to the government’s plans for a transition to a post-oil era.
The achievements of 2017 are complemented by two decades of success which made the economic zone one of the best in the world. It happened due to the fact that everything was done for providing the customers in international markets with the service of high-quality. DAFZA’s management aims to add value to the UAE economy by supporting international standards in providing a favorable business climate for customers and creating the conditions for the prosperity of their business.
The growth of DAFZA is also connected with the launch of Dubai CommerCity, a joint venture between DAFZA and Wasl Asset Management Group, valued at US $ 735 million. The area of 427 thousand square meters is devoted to the needs of the growing sector of e-commerce and world trade of the future.
Several memorandums were also signed in 2017 by DAFZA, such as in aviation sector, in the field of digital economy and electronic commerce and some others.
DAFZA has big plans for growth and expansion, it has fast growing industries, financial incentives and great economic potential.