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Free Zones Contribute 33% to Dubai GDP

Middle East : 08 March 2012

Source: Emirates 24|7

There are 22 free zones in Dubai housing 19,000 companies which employ around 26,000 people. These free zones contribute nearly 33 per cent to Dubai’s GDP, said Dr. Mohammed Al Zarooni, Director General of Dubai Airport Free Zone Authority (DAFZA) and Chairman of Dubai Free Zones Council.

Al Zarooni shed light on the newly-established Dubai Free Zones Council and the benefits it will provide to the international investors seeking to utilize Dubai platform .

“The key objective of establishing the council is to unify and standardize the measures and procedures of registering and licensing new businesses. This will cut the time and efforts an investor or a company might waste spinning from one Free Zone to another. We aim at going beyond the customers’ expectations via creating a one-shop- window,” he added.

The new council will mainly work on unifying the rules and regulations and create a platform for the foreign investors to address their concerns and ideas.

He praised the role of Dubai Chamber in supporting business growth and the promotion of Dubai as an international hub for business and finance and its contribution to putting Dubai on the world economic map.

“Dubai continues to increase its influence throughout the global business community and we see a number of companies setting up their regional head quarters in Dubai, due to the access we can provide across MENA,” he added.

Al Zarooni was speaking at Talk Business at Breakfast initiative right into 2012 networking meeting.

Hamad Buamim, Director General, Dubai Chamber, emphasised the importance of initiatives like Talk Business at Breakfast which he said goes on to bridge the gap between private and public sectors and helps the business community find solutions to their everyday problems as well as overcome obstacles by discussing their issues face to face with the relevant government officials.

Buamim further stressed that this networking meeting that comes directly under Dubai Chamber’s strategic objectives of creating a favourable business environment and supporting the development of business helps improve the competitiveness of the business community while enhancing the public, private sector partnership which is one of the driving forces behind the success of Dubai’s economy,” he said.

Dubai Chamber members’ exports and re-export figures which valued at Dh20.8 billion for the month of January 2012, registering an increase of 4.7 per cent in comparison to January 2011 figures while the members’ exports and re-exports reached the highest value in its history of operations as they registered Dh246 billion, which is an increase of 14.5 per cent on 2010 while the number of exporters rose to 5,340 who exported goods to 168 markets around the world.

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