dubai economy and tourism free zone

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​Dubai South

Dubai South is an emerging 145 sq. km. city situated within the emirate of Dubai that will ultimately sustain a population of one million.

Launched as a Government of Dubai project in 2006, the city is mandated to embody the vision of His Highness Sheikh Mohammed Bin Rashed Al Maktoum by manifesting the urban and societal themes as outlined in the Dubai Plan 2021. These themes relate to becoming a city of happy, creative and empowered people, an inclusive and cohesive society; the preferred place to live, work and invest, a smart and sustainable city, and a pivotal hub in the global economy.

Dubai South’s economic platform supports every conceivable kind of business and industry. The city is also home to the now-operational Al Maktoum International Airport –the largest airport in the world when complete – and the World Expo 2020.  

For more information please visit: dubaisouth.ae

Jebel Ali Free Zone

Dubai Airport Free Zone

Dubai Airport was established in 1996 and has become the premium free zone destination for a number of international blue-chip companies. Industries range from aviation, automotive, fashion and beauty to FMCG, ICT and telecoms.

For more information please visit: https://www.dafz.ae

Dubai Internet City

Dubai Internet City is a global business and technology community that is home to over 1,600 businesses of all sizes, including Fortune 500 companies, SMEs, start-ups and entrepreneurs.

For more information visit dic.ae

Dubai Silicon Oasis Authority

Dubai Silicon Oasis Authority (DSOA) is a technology park established by the Government of Dubai to provide high-tech companies with dedicated platform to grow their businesses.

For more information please visit:  www.dso.ae

Dubai Healthcare City

DHCC is home to more than 80 highly respected facilities, operating to the highest international standards including: City Hospital, Moorfields Eye Hospital Dubai, Dr. Sulaiman Al Habib Medical Centre, American Academy of Cosmetic Surgery Hospital, Drs. Nicolas and ASP, London Centre for Aesthetic Surgery, Dubai Gynaecology and Fertility Centre, Mughrabi Eye Centre and the German Heart Centre.

For more information please visit: www.dhcc.ae

Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is a dedicated free zone launched to harness the potential of the region's financial services industry. Today, DIFC is a community of over 750 companies, including some of the world's largest financial services businesses.

For more information please visit: www.difc.ae

Dubai Multi Commodities Centre

Dubai Media City

Gold & Diamond Park

Dubai Production City

Dubai Studio City

Dubai Studio City is a global business community that provides cutting edge facilities and services to companies across the broadcasting, TV and film production industries.

For more information visit dubaistudiocity.ae

Dubai Knowledge Park

Dubai Knowledge Park is a community of high-quality training institutes and recruitment consultancy firms that help meet the talent needs of businesses.

For more information visit dkp.ae

Dubai International Academic City

International Humanitarian City

Established in 2003 by HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the International Humanitarian City (IHC) has grown to become the world's largest and busiest logistics hub for humanitarian aid with nine UN agencies and nearly 50 NGOs and commercial entities as members.

For more information please visit: www.ihc.ae

Dubai Outsource City

Dubai Outsource City is a unique business community dedicated to the growth and development of the region's Outsourcing, Shared Services and Business Process Outsourcing sectors.

For more information visit dubaioutsourcecity.ae

Dubai Maritime City

Dubai Science Park

Dubai Science Park is a unique business community facilitating the growth of the energy and environment businesses in the Middle East. The free zone forms an important part of Dubai's Vision 2021 as it promotes a greener future that is less reliant on hydrocarbon resources.

For more information visit dsp.ae

Dubai Cars & Automotive Zone

Dubai Cars & Automotive Zone (DUCAMZ) was established in April 2000, with the objective of re-exporting used cars to the Asian & African markets. It is located within Dubai, and has easy access to all airports and seaports in the region.

Dubai Design District d3

Dubai World Trade Centre

Since its inauguration in 1979, the Dubai World Trade Centre (DWTC) has played a critical role in the growth of international trade for the Middle East region. The establishment of the new Free Zone (Dubai World Trade Centre Authority) has strengthened DWTC's ability to offer global enterprises a uniquely flexible base from which to service new growth opportunities across continents.

For more information, please visit: www.dwtc.com

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DUBAI FREE ZONES GUIDE

Planning to start a business in Dubai? You’ve probably come across the term “Free Zones.”  What are they, and why do they matter?

Free Zones are special areas that offer great benefits to businesses. In this guide, we’ll explore Dubai Free Zones and talk about how they can help your business.

Download IFZA Official Guides

Guide to obtaining a Dubai business license

A UAE Business Owner’s Guide to Corporate Banking

Whether you’re starting fresh or thinking about expanding to the Middle East, keep reading to find out more about Dubai Free Zones and how they can boost your business goals

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What is a free zone, dubai free zones: contributing to global recovery, geographic distribution of free zones across the uae, industry-specific dubai free zones, what makes uae free zones stand out, benefits of dubai free zones, difference between dubai free zone and mainland, types of business licenses available in dubai free zones, what kinds of legal entities can be established in a dubai free zone, business setup procedure in dubai free zone, what are the requirements for initial approval, registration, licensing, and visa processing in a dubai free zone, can dubai free zone companies do business on the mainland, dubai free zones: challenges and considerations, future trends and developments in dubai free zones, dubai free zones faqs.

The question “What is a Dubai Free Zone” may give you the indication that Free Zones are only found in this specific emirate, but Free Zones can be found throughout the UAE. The thing is Dubai’s popularity presents it as the prominent option for lucrative investment seekers.

A Free Zone, a free trade zone, or a Free Zone authority is an economic area ruled by its own specific regulations that do not apply to businesses outside the zone. Dubai Free Zone companies trade services and products, leveraging special tax and foreign ownership laws.

Establishing free trade zones was one of the initiatives the government took to diversify the economy and attract more foreign investors to Dubai and the UAE in general, allowing them to start a business within an evolving, entrepreneurial ecosystem and boost their profits.

The first Free Zone in the UAE is the Jebel Ali Free Zone, founded in 1985. Today, there are more than 40 Free Zones located in different parts of the UAE.

Want to learn more about Free Zones work? Read our blog here !

Since the development of the first Free Zone more than 60 years ago, the world has seen this model grow significantly in terms of number and size. Today, there are more than 7,000 Free Zones in more than 145 economies, employing more than 100 million.

According to the OECD, Free Zones are responsible for exports worth more than $3,500 billion a year representing 20 percent of the global trade of goods. This simply shows the importance of this sector and its contribution to the growth of the global economy.

Read more  here .

Free zones are strategically distributed across all emirates in the UAE , offering businesses various options based on their specific preferences, industry focus, and other operational requirements. These geographical locations offer businesses the flexibility to choose a setting that aligns with their needs.

Here are some key considerations for each emirate:

Dubai is a major hub for business and commerce in the UAE. It hosts numerous free zones, each catering to different industries. These zones offer a range of benefits including industry-focused facilities, simplified business processes, and access to a global market.

As the capital of the UAE, Abu Dhabi also hosts several free zones. These free zones often have specific industry focuses and offer benefits tailored to those industries. Businesses looking to establish a presence in Abu Dhabi can benefit from its strategic location and business-friendly environment.

Sharjah is another emirate with a variety of free zones. These zones cater to different sectors and offer incentives to attract businesses. The emirate’s connectivity and accessibility make it an appealing option for businesses looking to tap into the UAE market.

Businesses can choose a location based on factors such as proximity to key markets, industry clusters, logistical convenience, and the specific benefits offered by each emirate’s free zones.

Dubai’s commitment to economic diversification and growth is exemplified by its establishment of industry-specific free zones. These zones are tailored to cater to the unique needs of various sectors, fostering specialization, innovation, and economic development.

Here are a few examples:

Technology and Innovation

These Dubai-free zones focus on nurturing technological advancement, research, and development. They provide state-of-the-art infrastructure, laboratories, and collaborative spaces to facilitate innovation. Startups and established tech companies alike benefit from a supportive environment, access to skilled professionals, and streamlined regulatory processes.

Media and Creative Industries

Media-oriented Dubai free zones are designed to support businesses in advertising, publishing, film production, broadcasting, and related fields. These zones offer specialized facilities and services that cater to the unique requirements of the media sector, including studio spaces, advanced equipment, and networking opportunities.

Healthcare and Medical Services

Dubai Free Zones specializing in healthcare provides a platform for medical institutions, clinics, research organizations, and pharmaceutical companies. These zones often aim to promote medical tourism and high-quality healthcare services. They offer advanced healthcare infrastructure, research facilities, and a regulatory framework conducive to the sector’s growth.

Logistics and Manufacturing

Logistics and manufacturing-focused Dubai free zones play a crucial role in promoting trade and industrial activities. These zones offer state-of-the-art facilities, warehousing, and logistical support, making them attractive to businesses engaged in import, export, and manufacturing operations.

Financial Services

Some Dubai free zones are dedicated to financial services such as banking, insurance, and investment. These zones provide a favorable regulatory environment for financial institutions and offer services that facilitate international business transactions.

Education and Research

Education-focused Dubai free zones are designed to provide a platform for institutions offering academic and research programs. These zones support knowledge exchange, research collaboration, and the development of educational initiatives.

Each industry-specific Dubai free zone is carefully designed to cater to the unique needs and demands of its respective sectors. This targeted approach contributes to the overall economic diversification and growth of the UAE.

Free Zones in the UAE, especially in Dubai, operate under separate legislation compared to the mainland businesses. Each Free Zone is supervised by its own authority, with around 45 such zones currently operational in the UAE.  These zones offer numerous incentives for investors, making them lucrative for businesses in various sectors like healthcare, trading, tech, and more.

The UAE is a land of opportunities, and Dubai Free Zones are a big part of what makes it a great place to do business.

By investing in Dubai Free Zones , you can enjoy many benefits such as :

If you are looking to set up your business in a Dubai Free Zone, here are some of the attractive benefits:

• 100% foreign ownership
• 100% repatriation of capital and profits
• Tax exemptions
• 100% free transfer of funds, and no foreign exchange controls
• Flexibility to operate 24/7
• A variety of commercial offices available for sale or lease
• Easy start-up and licensing procedures
• Unique industry clustering and purpose-built infrastructure.
• Exemption from all import and export duties
• Low freight charges
• Multicultural workforce and easy recruitment procedures
• The timely and streamlined immigration process.

Read blog here

• Ownership: 

While most Mainland companies may only have a maximum foreign ownership of 49%, Dubai Free Zones offers complete foreign ownership from the start.

• Business Scope: 

Dubai Free Zone Companies are restricted to conducting business only within the Free Zone, while Mainland companies can operate throughout the UAE.

Mainland companies must have a physical office of at least 200 square feet, while virtual workplaces are allowed for some Dubai Free Zone companies.

The number of visas a Mainland company can obtain depends on the size of its workspace, while the number of visas available to Dubai Free Zone companies is determined by specific regulations of the relevant authority.

• Business Setup Approvals:

The establishment of a Mainland company requires clearance from various government agencies, while each Dubai Free Zone has its own laws and regulations for its registered businesses.

Dubai Free Zones offers a diverse range of business licenses tailored to various industries and professional endeavors. Here are some of the most popular ones:

Industrial License

An industrial license within Dubai Free Zones is required for businesses involved in the production of goods and products, including the manufacture of machinery, chemicals, and food products.

Professional License

The Dubai Free Zone professional license is needed for businesses that offer professional services such as consulting, accounting, and legal services. This type of license is also required for businesses involved in creative industries such as graphic design, architecture, and advertising.

Freelance Permit

Dubai Free Zones pave the way for individual freelancers to shine independently. This license is designed for individuals who want to work as freelancers in Dubai. It allows you to offer your professional services as an independent contractor, rather than as an employee of a company

E-Commerce License

This license is needed for businesses involved in online trading and e-commerce activities. Tailored for Dubai Free Zones, it is important to note that this license only allows the online sale of goods.

Tourism License

This license is required for businesses involved in the tourism sector such as hotels, tour operators, and travel agencies.

Commercial License

This license is for businesses involved in trading activities such as wholesale and retail trade, import and export, and storage and distribution.

Learn more about the different types of business licenses in Dubai Free Zones here .

There are two types of legal entities that can be established in a Dubai Free Zone. These are:

Free Zone Company (FZCO)

A Dubai Free Zone Company (FZCO) shares similarities with a Free ZoneLimited Liability Company (FZ LLC), but with a notable distinction – it can accommodate more than 50 shareholders. This feature makes it an appealing choice for businesses with broader ownership participation. A Free Zone Company (FZCO) operates within the framework of Free Zone regulations, offering a level of autonomy while enjoying the benefits of operating within the Free Zone environment.

An essential requirement for establishing a Free Zone Company (FZCO) is the appointment of a minimum of one director and a secretary. This structure fosters a degree of corporate governance and administrative oversight, aligning with international business practices. By allowing for increased shareholder participation, a Free Zone Company (FZCO) can facilitate diverse investment scenarios, collaborations, and expansion strategies.

Free Zone Establishment (FZE)

A Free Zone Establishment (FZE) is designed for those seeking a simplified ownership structure, where the company is owned by a single shareholder. This shareholder can be an individual or a corporate entity. The Free Zone Establishment (FZE) structure provides a direct and straightforward ownership model, ensuring that the shareholder has full responsibility for the company’s operations and liabilities.

This one-shareholder approach streamlines decision-making processes, as there’s a clear and singular ownership perspective. It is often chosen by sole proprietors, entrepreneurs, and small businesses seeking a simplified setup that enables them to maintain direct control over their operations while benefitting from the Free Zone’s supportive infrastructure.

The type of legal entity that is right for you will depend on the size and structure of your business, as well as your personal preferences.

Setting up a business in Dubai may seem like an overwhelming task. Here is a breakdown of the steps involved :

• Determine the Business Entity Type:

Begin by choosing your business activities and type of legal entity.

• Choose A Trading Name:

Your business name should comply with the criteria set out by the UAE government.

• Apply For a Business License:

Depending on the Free Zone jurisdiction that you will choose and/or your business activity, you may need to attach a copy of a business plan along with your license application.

• Choose An Office Space:

Dubai Free Zones offer various office solutions such as a flexi-desk to support start-ups.

• Get Pre-Approvals, Register Your Business, And Get Your License.

This should take a few weeks, once you have your license you are free to start your business.

• Open Your Corporate Bank Account:

You would need a bank account to commence your business in Dubai.

Want to learn more about the business setup process in Dubai Free Zones? Click here !

The requirements for initial approval, registration, licensing, and visa processing can vary depending on the Free Zone authority and the type of business activity. Generally, the required documents include a completed application form, colored passport copies of the company’s shareholders and appointed manager or director, and if the applicants are inside the UAE, copies of their Emirates ID and UAE Residence Visa. Other Dubai Free Zones may require you to submit a business plan, financial reports, letters of intent, and other documents. For freelancers, additional documents such as a curriculum vitae (CV) may be required.

Once initial approval is granted, the Dubai Free Zone authority will prepare the lease agreement, issue the trade license, and begin the visa processing for the company’s employees. It’s important to note that each Free Zone has its own set of rules, so it’s essential to check with the relevant Free Zone authority for specific requirements.

Yes, come Dubai Free Zone companies can conduct business activities in the Dubai mainland; however, this requires obtaining appropriate approvals from the respective Free Zone authorities.

It’s important to remember that many Dubai Free Zones limit their activities to international trade or interactions with entities within the same Free Zone.

In instances where Free Zone businesses aim to establish a presence in the Dubai mainland, several approaches can be considered:

• Engaging a mainland logistics partner to handle intra-UAE movement of goods.
• E-commerce companies in Free Zones can utilize courier or delivery services for distributing products within the UAE.
• Creating a branch of the Free Zone-based business on the Dubai mainland, which should share identical activities and names with the original Free Zone entity.

If you want to trade between your Dubai Free Zone company and the mainland, the appropriate course of action involves interacting with the Dubai Department of Economy and Tourism (DET).

This necessitates applying, along with the associated fees. If your business operates within a Free Zone, we can offer guidance regarding the most suitable approach for your company to engage in business with Dubai mainland.

• Initial Setup Costs:

Setting up a business in a Dubai free zone involves various costs, including company registration fees, licensing fees, office space rentals, visa fees, and other administrative expenses. While free zones offer attractive incentives, businesses need to carefully consider and plan for these upfront costs. Conducting a thorough cost analysis is essential to avoid unexpected financial strain during the initial phases of establishment.

• Compliance with Regulations:

While Dubai free zones offer regulatory advantages, businesses are still required to adhere to specific rules and regulations set by the respective free zone authorities and relevant government bodies. Navigating these regulations can be complex, and non-compliance can result in penalties or even the revocation of licenses.

• Competition and Saturation:

As Dubai free zone attract businesses from diverse sectors, competition within these zones can be intense. Businesses need to differentiate themselves and develop a unique value proposition to stand out. Additionally, in some popular industry-focused free zones, the market may become saturated with similar businesses, making it crucial to carefully assess market demand and potential saturation risks.

• Limited Physical Presence Requirements:

While some Dubai free zones like IFZA offer virtual setups or flexi-desk options, others may require businesses to maintain physical office space. This can add to the operational costs, especially for businesses that do not require a large physical presence. Finding a balance between cost efficiency and meeting the free zone’s requirements is essential.

Read more about various office space types here .

• Future Flexibility and Expansion:

Businesses should consider their long-term growth plans when choosing a free zone. While some Dubai free zones offer opportunities for expansion and scalability within the same zone or into mainland operations, others might have limitations on certain activities or sectors. It’s important to choose a Dubai free zone that aligns with your growth strategy and allows for future flexibility.

Here are 5 common business setup challenges and effective solutions! Read now .

• Impact of Technological Advancements:

Artificial intelligence (AI), blockchain, and other emerging technologies are likely to transform various aspects of business operations within Dubai free zones. This could lead to increased efficiency in processes such as licensing, customs clearance, and administrative tasks. Additionally, technology-driven innovations might attract more digital businesses to these zones, further solidifying the UAE’s position as a technology hub.

• Evolving Regulations and Policies

As global business dynamics change, regulations and policies governing free zones are expected to evolve. Governments might introduce new incentives to attract specific industries or modify existing regulations to align with international standards. These changes could affect areas such as taxation, intellectual property protection, and ease of doing business. Staying updated with regulatory changes will be crucial for businesses operating within free zones to ensure ongoing compliance and to take advantage of new opportunities.

• Sustainability Initiatives in Dubai Free Zones

With an increasing focus on environmental responsibility and sustainability, Dubai free zones are likely to incorporate green and sustainable practices. This includes the adoption of renewable energy sources, development of eco-friendly infrastructure, and implementation of waste reduction measures. As sustainability becomes a global priority, businesses operating within environmentally conscious free zones could benefit from enhanced reputations and appeal to eco-conscious consumers.

• Digital Transformation and E-commerce:

As e-commerce continues to grow, Dubai free zones may adapt to support businesses engaged in online retail and logistics. This could involve specialized facilities, streamlined customs procedures for cross-border e-commerce, and digital infrastructure that supports online businesses.

Learn how you can get an ecommerce license here .

• Enhanced Cross-Border Trade:

With the UAE’s strategic location as a global trade hub, Dubai free zones could play an even more significant role in facilitating cross-border trade and global supply chains. The integration of digital technologies, such as blockchain for supply chain management, could streamline international trade processes within these zones.

• Fintech and Financial Services:

The growth of the fintech industry might lead to the establishment of Dubai free zones specifically tailored for financial technology companies. These zones could offer regulatory sandboxes, innovative regulatory frameworks, and specialized support for fintech startups and companies.

Businesses that stay attuned to these trends and adapt their strategies accordingly will be well-positioned to leverage the opportunities presented by the evolving landscape of free zones in the UAE

Can I open a UAE Bank Account with my Free Zone Company?

Yes, you can and there is a wide variety of good banks to choose from.

Do I need to be a UAE Resident if I have a Free Zone Company?

No, you are not required to be a resident or to live in the UAE if you own a Free Zone Company. Learn more about setting up your business in a dynamic Dubai Free Zone like IFZA here.

Will I be able to trade inside and outside UAE with my Freezone Company?

Yes, you can trade locally and internationally but subject to the Rules and Regulations of the Free Zone.

Commercial License in Dubai: Requirements and Differences

UAE Corporate Tax: Everything You Need to Know

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Dubai Free Zones Council - About

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• DUBAI FREE ZONES
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Dubai Free Zones Council

To provide a platform for seamless collaboration amongst Dubai free zones in order to enhance their performance and global competitiveness by:

• Working towards favorable regulations and ecosystems with local, regional and international bodies and regulators
• Enabling the sharing of best practices amongst council members
• Providing a fair representation of the various free zones offerings

To enable Dubai’s free zones in becoming a leading global destination for investments and a key contributor to the Emirates strategic goals.

H.H. Sheikh Ahmed Bin Saeed Al Maktoum

Chairman, dubai free zones council.

The Dubai Free Zones Council (DFZC) aims to drive the development of free zones in Dubai in order to attract investments and create an enabling environment for boosting diverse areas of the national economy, such as industry, trade, tourism, and services. Furthermore, it seeks to enhance collaboration between the free zones, building synergies based on the exchange of knowledge and best practices. The council’s efforts support Dubai Government’s strategic plans and contribute to establishing the emirate as a leading global investment destination.

Council Members

His Excellency Dr. Mohammed Alzarooni

Executive Chairman of Dubai Integrated Economic Zones Authority, Secretary General of the Dubai Free Zones Council

With over 25 years of experience leading and developing free economic zones, H.E. Dr. Mohammed Al Zarooni is considered one of the world's top free zone influencing leaders. In 2021, H.E. Dr. Al Zarooni was appointed as Executive Chairman of Dubai Integrated Economic Zones Authority (DIEZ), holding three of Dubai's pioneering Free Zones, Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity.

In 2000, H.E. Dr. Al Zarooni was appointed as Director-General of the Dubai Airport Freezone Authority (DAFZA), which, through his visionary leadership, quickly grew to become one of the top-performing free zones in the world. In 2002, the Dubai Government appointed him as Vice Chairman and CEO of the Dubai Silicon Oasis Authority (DSOA), one of the region's most advanced and successful technology hubs.

In 1995, His Excellency joined the Dubai Civil Aviation Authority as Director of Research and Administration and at that time, as he was one of the most prominent officials responsible for the establishment of the Dubai Airport Free Zone in 1996. Before joining the Department, he worked in the Ministry of Education for 8 years.

In 2014, H.E. Dr. Al Zarooni was instrumental in conceptualizing and establishing the non-profit World Free Zones Organization. He is presently the chairman of this multilateral organization which acts as an association for all free zones in the world. In 2015, he was appointed as the Secretary-General of the Dubai Free Zones Council.

A prominent personality in Dubai's economy, H.E. Dr. Al Zarooni is a member of the Dubai Economic Council. He also sits on several major institutions' boards, including Dubai Aerospace Enterprise, Emirati Human Resources Development Council, and RIT Dubai Board of Directors, in addition, he is the Chairman of Tradeling Board (a B2B ecommerce marketplace). H.E. Dr. Al Zarooni is an accomplished speaker on free zones and has been invited to address keynotes worldwide at numerous conferences and forums.

H.E. Dr. Mohammed Al Zarooni graduated with a Ph.D. Degree from the University of Durham in the U.K. His doctoral thesis was on "The Position of the Free Zones in Economic Development."

Ahmed Bin Sulayem

Executive Chairman and Chief Executive Officer Dubai Multi Commodities Center

His Excellency Dawoud Abdulrahman Alhajri

Directo General Dubai Municipality

His Excellency Essa Abdulfattah Kazim

Governor of DIFC

His Excellency Helal Saeed Almarri

Director General of the Dubai World Trade Centre

His Excellency Ibrahim Mohammed BuMelha

Vice-Chairman of the Board of Directors of the International Humanitarian City

His Excellency Khalifa Al Zaffin

EXECUTIVE CHAIRMAN DUBAI AVIATION CITY CORPORATION AND DUBAI SOUTH

His Excellency Malik Al Malik

Director General of the Dubai Development Authority

His Excellency Mohammed Ibrahim Al Shaibani

Chairman of the Board & CEO - Meydan City Corporation

Sultan Bin Sulayem

Group Chairman and Chief Executive Officer of DP World and the Chairman of the Ports, Customs & Free Zone Corporation

Lieutenant General Talal Humaid Belhoul

Director General State Security - Dubai

His Excellency Mohammad Ali Rashed Lootah

PRESIDENT & CEO DUBAI CHAMBERS

Her Excellency Reem Al Hashimy

UAE Minister of State for International Cooperation and CEO, Expo City Dubai Authority

Her Excellency Reem Al Hashimy was sworn in as Minister of State in the Cabinet of the United Arab Emirates in February 2008. She was appointed to her current role as UAE Minister of State for International Cooperation in February 2016.

Her Excellency is additionally responsible for managing the UAE Vice President’s Office of Political Affairs.

Having previously served as Director General of Expo 2020 Dubai, Her Excellency now holds the post of CEO, Expo City Dubai Authority, the public authority charged with overseeing the development of Expo City Dubai, the World Expo’s legacy city.

Her Excellency chairs the National Committee on Sustainable Development Goals, which leads the promotion of the Sustainable Development Goals in the UAE, aligning them with the UAE’s national development priorities.

Her Excellency also serves as Chairperson of Dubai Cares, a philanthropic organisation that aims to improve access to education in developing countries.

Prior to her position as Minister of State, Her Excellency served as Commercial Attaché, and subsequently Deputy Chief, of the UAE Embassy to the United States of America in Washington D.C. Her Excellency holds a Bachelor’s in International Relations and French from Tufts University, and a Master’s from Harvard University.

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Dubai's free zones on track to boost GDP contribution to $68bn by 2030

The economic zones support the growth of existing industries and have created new ones, sheikh ahmed says.

The Jebel Ali Free Zone in Dubai. The emirate's appeal as a preferred investment destination is strengthened by these economic areas. Pawan Singh / The National

Free zones in Dubai are on track to boost their contribution to the emirate's gross domestic product to Dh250 billion ($68bn) by 2030, according to Sheikh Ahmed bin Saeed, chairman of the Dubai Free Zones Council.

The economic zones support the growth of existing industries and have created new specialised and dynamic sectors including green, circular and knowledge-based economies , in line with future economic opportunities, Sheikh Ahmed said during the council's meeting, state news agency Wam reported.

Free zones enhance diversified economics and promote sustainability and growth, strengthening Dubai's appeal as a preferred investment destination, Sheikh Ahmed said.

Free zones – also known as free trade zones – are economic areas where business owners have 100 per cent ownership of their organisations and tend to have preferential tax schemes.

The UAE has been investing heavily in developing its infrastructure and implementing policy reforms to attract more entrepreneurs and businesses to the country as it seeks to grow its non-oil sector.

The UAE Cabinet recently approved new regulations for the entry and residence of foreigners, including amendments to the golden residency programme, green residency, tourist visas and other special visas.

The contribution of the UAE’s non-oil sector to the country's total economic output rose to 72.3 per cent in 2021 , the Federal Competitiveness and Statistics Centre said earlier this month.

The Dubai 2040 Urban Master Plan presents a framework to "advance the free zones experience and take it to new heights", allowing free zones to play a more substantial role in Dubai’s socio-economic development, Sheikh Ahmed said.

The comprehensive roadmap also boosts Dubai’s rank in key global indices for competitiveness, innovation and ease of doing business.

During the meeting, the council explored the addition of 80 new services to the Invest in Dubai platform, including connectivity through a single portal that can be used by start-ups, investors and international companies for tax registration services, designing business plans and evaluating feasibility, among others.

The council also explored opportunities for companies to move between free zones. Members called for a framework that unifies the fee structure, the report said.

They also called for a comprehensive study in collaboration with Digital Dubai to assess the economic impact of free zones' contribution.

Last December, Sheikh Ahmed, in his capacity as chairman of the Dubai Integrated Economic Zones Authority, approved the organisation's new structure , aimed at enhancing free zone integration in the emirate and providing comprehensive solutions to investors and free zone companies.

Energy This Week

Expert analysis on oil & gas renewables and clean energy

The Dubai Model and UAE Free Zones

• First Online: 14 April 2021

Cite this chapter

• Robert Mogielnicki 3  

Part of the book series: International Political Economy Series ((IPES))

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Dubai’s expansive free zone system is considered a model for regional and global free zone development. However, the establishment and growth of Dubai’s flagship free zone at Jebel Ali in the 1980s and 1990s occurred alongside the emergence of other free zones in the hydrocarbon-scarce northern emirates. The commercial success of Jebel Ali was not guaranteed, and Dubai had several political objectives for its first free zone. In the early 2000s, Abu Dhabi’s government began aggressively promoting free zone development in the oil-abundant, capital emirate. Without a federal mechanism for coordinating free zone development across emirates exercising a large degree of economic policy autonomy, these commercial entities proliferated drastically during the high-growth years of the early 2000s. The consequent development outcomes included successful business clusters and commercial flops.

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Interview 3, Emirati manager at Jebel Ali Free Zone, Dubai, March 31, 2016.

Interview 35, former consultant at JAFZA and managing director of consultancy focusing on special economic zones, Dubai , May 31, 2016.

It is worth noting that a number of oil and gas companies are registered clients of the free zone.

Interview 46, senior manager at Economic Zones World, Dubai, UAE , July 23, 2016.

National Industries Park is not a free zone but rather an onshore investment park.

Interview 17, managing director of an economic zones services company sponsored by TECOM, Dubai, UAE , May 23, 2016.

Statistics rely on population estimates of 223,430 Emirati citizens for 2016 and Dubai Statistics Center—Labor Force Survey 2016 figures indicating that 48.2% of Dubai’s citizens are “economically active.”

Data on free zone sector analysis provided remotely by interviewee 23 on April 14, 2016.

Interview 23, manager at Masdar Free Zone, Abu Dhabi, April 14, 2016.

Interview 22, British owner of consulting firm registered in Abu Dhabi’s Masdar Free Zone, Abu Dhabi. April 14, 2016.

Interview 34, partner at UK training company based in Abu Dhabi but registered to RAK Free Zone, remote conversation from Dubai, UAE , May 28, 2016.

A group of global airlines has claimed that Etihad airlines received $15.2bn in capital transfers, interest free loans, and other subsidies since 2004 (“Airline” 2015 ).

Interview 49, business journalist at Thomson Reuters, Abu Dhabi, UAE, July 24, 2016.

Interview 47, consultant at Khalifa Industrial Zone Abu Dhabi (KIZAD), Abu Dhabi , UAE, July 24, 2016.

Interview 47, consultant at Khalifa Industrial Zone Abu Dhabi (KIZAD), Abu Dhabi, UAE, July 24, 2016.

Bahrain possesses an established reputation as a hub for Islamic banking and finance, Qatar opened the Qatar Financial Centre (QFC) in 2005, and Saudi Arabia developed the King Abdullah Financial District in Riyadh.

Interview 48, senior manager at Abu Dhabi Global Market, Abu Dhabi, UAE , July 24, 2016.

Interview 49, business journalist at Thomson Reuters, Abu Dhabi, UAE , July 24, 2016.

Interview 23, manager at Masdar Free Zone, Abu Dhabi , April 14, 2016.

Data on Masdar Free Zone fees provided remotely by Interviewee 23 on April 14, 2016.

Figures sourced from interviews and data collection conducted by the author.

Interviewees 22 and 30 both suggested that Jebel Ali Free Zone provided Dubai with the first-mover advantage in FZ development in the region.

Interview 55, a director from Hamriyah Free Zone, Sharjah, UAE , August 11, 2016. [Arabic]

Interview 56, staff member at Ajman Free Zone. Ajman, UAE, August 11, 2016.

This figure was calculated by multiplying 15,000 companies by AED 11,900, the cheapest annual company registration. Registration fees for executive offices can cost as much as AED 60,000, so the actual revenue generated from licensing and registration was likely much higher than the estimate. Estimates and prices are based on December 2016 figures.

Interview 56, staff member at Ajman Free Zone, Ajman, UAE, August 11, 2016.

Most of the investors registered with AFZ are Indian, Russian, or European.

Interview 57, staff member at Sharjah International Airport Free Zone, Sharjah, UAE, August 11, 2016.

Interview 35, former consultant at JAFZA and managing director of consultancy focusing on special economic zones, Dubai, UAE , May 31, 2016.

Interview 58. Manager at Ras Al Khaimah Investment Authority (RAKIA). Ras Al Khaimah, UAE. August 14, 2016.

Interview 59, source closely associated with RAK Maritime City, remote conversation in Dubai, UAE, August 16, 2016.

The free zone rented out approximately six million square meters of real estate in 2015, and the free zone charged AED 40 per square meter of leased land.

Interview 59, source closely associated with RAK Maritime City, remote conversation in Dubai, UAE , August 16, 2016.

Interview 24, senior corporate manager of Fujairah Free Zone, Fujairah, UAE, April 18, 2016.

The figures are taken from the Fujairah Statistics Centre Statistical Yearbook 2015.

Interview 24, senior corporate manager of Fujairah Free Zone, Fujairah, UAE, April 18, 2016; Interview 56, staff member at Ajman Free Zone, Ajman, UAE, August 11, 2016.

Interview 6, vice chairman of major real estate company, Abu Dhabi , August 7, 2014.

Figures provided remotely by a Fujairah Free Zone employee on February 2, 2017.

Interview 19, Emirati manager at Jebel Ali Free Zone, Dubai, March 31, 2016.

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Mogielnicki, R. (2021). The Dubai Model and UAE Free Zones. In: A Political Economy of Free Zones in Gulf Arab States. International Political Economy Series. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-71274-7_3

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Dubai free zones: A regional success story

• Environment

Dubai's free zones play critical roles supporting the growth of the UAE economy

As we reflect on the journey of Dubai Free Zones since the inception of the first zone in 1985, it is impossible to ignore the incredible success they have achieved. These zones, characterized by their dynamic regulatory frameworks and investor-friendly policies, have evolved into essential pillars of the UAE's economy, playing a pivotal role in its rapid growth and development.

Throughout the past four decades, Dubai Free Zones have undergone a remarkable transformation. From humble beginnings, they have grown into thriving hubs of economic activity, attracting businesses and investors from every corner of the globe.

Today, they stand as beacons of innovation, offering international entrepreneurs’ opportunities such as 100 per cent ownership, low tax rates, exemption from duties and flexible business regulations. Dubai Free Zones are also designed to cater to the unique needs of specific investors and industry themes, such as health care, logistics, media, technology by offering unique regulatory and physical infrastructure.

One of the most striking achievements of the Free Zone model is its significant contribution to the UAE's economy and the vital role they play as an important driver of Foreign Direct Investment. In Dubai alone, Free Zone companies are projected to boost their contribution to GDP to Dh250 billion by 2030. This projected growth is not merely a statistical forecast, it represents a commitment to sustained economic expansion, ensuring prosperity for our international and local entrepreneurs.

As a dynamic Free Zone community based in Dubai, IFZA is proud to contribute to the nation’s growth. We leverage our strategic location in one of Dubai’s most innovation-focused districts, and combine it with the highest levels of competence, customer-oriented service and regulatory knowledge to solve ever-changing entrepreneurial needs and expand the local SME sector.

In this narrative of success, IFZA proudly assumes its role as a leading internationally focused Free Zone community, opening doors from Dubai to the world. Throughout the years IFZA has demonstrated unwavering dedication to attracting Foreign Direct Investment (FDI) into Dubai and nurturing an ambitious SME sector. By offering a streamlined and investor-friendly environment to global entrepreneurs, IFZA is advancing UAE’s leading position as a globally attractive FDI location. Currently, 56 per cent of our registered businesses at IFZA Dubai are started by European entrepreneurs from countries including Germany, France, Russia and UK .

Ultimately, we support these entrepreneurs by being so much more than a Free Zone – IFZA is a community where businesses are motivated to create, inspired to succeed, and enabled to become part of an ever-evolving ecosystem that nurtures energy, creativity, and excellence.

We empower SMEs by offering them a growing range of products and services, including commercial real estate and fit-out, medical insurance, corporate banking support, professional training, events services, corporate services and so much more. As the needs of SMEs change, IFZA is committed to remaining proactive in delivering a second-to-none customer journey and experience in offering services and solutions.

With a strong emphasis on technology, sustainability, and global connectivity, we have achieved exponential growth since our inception. In Q1 of 2023, we achieved a 177 per cent increase in the number of new companies registered compared with the same period last year, alongside providing employment to more than 300 people.

Success in partnership

Furthermore, it is essential to acknowledge the collaborative approach that underpins the success of Dubai Free Zones. Inspired by the nation’s spirit of collaboration, IFZA also runs on a partnership model where we work with our Professional Partners enabling them to expand Dubai’s burgeoning start-up sector to the world.

We see that Dubai Free Zones have emerged as a resounding success story, reflecting the vision and determination of the UAE leadership. As we look towards the future, we do so with confidence, knowing that our nation’s Free Zone model will continue to be a key driving force behind the nation's economic prosperity. Together, we will contribute to writing the next chapter of this remarkable success story, shaping a future that is even more dynamic, inclusive, and prosperous for all.

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Dubai Free Zones

The Free Zones play a significant role in Dubai’s economy. The introduction of free zones in Dubai and the successful development of these zones are one of the core factors which changed Dubai to what it is now. The report describes facilities and benefits offered by Dubai Free Zones, and provides recommendations to attract the new businesses into the Free Zones.

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Established in 2021, Dubai Integrated Economic Zones Authority   (DIEZ)  consolidates and integrates the products and services of Dubai Airport Free Zone  (DAFZ) , Dubai Silicon Oasis  (DSO) , and Dubai CommerCity  (DCC) .

Home to more than  5,000  registered companies from across  20  industries, DIEZ is at the heart of Dubai’s economic success – a major economic catalyst in the city’s development.

CHOOSING DIEZ

Dubai’s remarkable economic transformation is a result of the UAE’s diversification strategy, which aims to build a vibrant economy that will long outlast oil supplies.

Together, these conditions make for attractive investment opportunities for those businesses keen to take advantage of an ecosystem based on rich human capital, smart transformation and state-of-art services and products. Offering unparalleled solutions for global companies, attractive incentives, digital connectivity and holistic business support services, DIEZ is the perfect platform to take advantage of the high-grown opportunities available in Dubai, the UAE, the Middle East region and beyond.

CHAIRMAN’S BIOGRAPHY

His highness sheikh ahmed bin saeed al maktoum, chairman of diez authority.

Over the past 35 years, HH Sheikh Ahmed Bin Saeed Al Maktoum has been at the forefront of Dubai’s remarkable economic development spearheading the successful expansion of aviation, which constitutes a substantial part of Dubai’s GDP, and formulating economic, investment and fiscal policies and strategies in support of the emirate’s overarching vision.

H.H. Sheikh Ahmed Bin Saeed Al Maktoum

Sheikh Ahmed embarked on his career in the aviation industry in 1985 when he was appointed President of the Dubai Department of Civil Aviation (DCA) – the governing body that oversaw the activities of Dubai International (DXB) and Dubai Duty Free, among others. In the same year Emirates airline – Dubai’s international carrier was launched with Sheikh Ahmed as its Chairman. He is now the Chairman and Chief Executive of Emirates Airline & Group, which includes dnata – one of the world’s leading providers of air services and travel services, and other aviation-related entities.

Emirates is an award-winning international airline, and one of the world’s most recognised airline brands with a global footprint across six continents, connecting passengers and facilitating global trade. The airline operates one of the most modern and efficient aircraft fleets comprised of spacious and comfortable Airbus A380 and Boeing 777 aircraft. Under his leadership, Emirates has been profitable for over 30 years. A trusted partner for over 300 airline customers worldwide, dnata offers ground handling, cargo and catering services at 126 airports in 19 countries and operates over 200 travel outlets around the world. In the financial year, 2019-20 dnata handled 681,000 aircraft, moved 2.9 million tons of cargo, uplifted more than 93 million meals and handled over 3.5 million travel bookings.

Dubai Duty Free has become one of the biggest single airport retail operations in the world with US$2.543 billion in annual sales in 2020.

Under Sheikh Ahmed’s leadership, the DCA underwent an organisational restructuring in April 2007 resulting in the creation of the Dubai Civil Aviation Authority (DCAA) as the local regulatory body, and Dubai Airports as the owner and operator of Dubai’s airports – DXB and Dubai World Central (DWC). Following the restructuring, Sheikh Ahmed became the President of DCAA and Chairman of Dubai Airports.

The fact that Dubai is now firmly established as the region’s leading tourist destination and business, trade and transport hub is due in no small measure to the efforts of Sheikh Ahmed. Under his leadership, DXB has developed into the world’s busiest airport for international passengers and among the largest cargo hubs with a network of 220 destinations served by more than 75 airlines. This was enabled by the timely and progressive expansion of the hub which included the spectacular opening of DXB’s Terminal 3 on October 14, 2008; the opening of Concourse A, the world’s first purpose-built A380 facility in early 2013, as part of a $7.8 billion expansion plan designed to boost DXB’s capacity to 90 million passengers; followed by the flawless opening of the $1.2 billion Concourse D in February 2016.

Earlier in 2008, in another first to Dubai’s long list, flydubai was launched. With Sheikh Ahmed to lead the airline as its Chairman and now in its 11th year of operation, flydubai has created a network of more than 70 destinations in 45 countries served by a fleet of more than 50 Boeing 737 aircraft.

In June 2016, Sheikh Ahmed was appointed as President of Mohammed Bin Rashid University of Medicine and Health Sciences. In January 2019 Sheikh Ahmed was awarded the Honorary Sash of Mohammed Bin Rashid by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE, and Ruler of Dubai, for winning the Mohammed Bin Rashid Al Maktoum Government Excellence Award for his leadership in aviation.

In November 2019, Sheikh Ahmed was appointed to temporarily oversee Dubai Holding and Meraas., and in June 2020 Meraas merged under the umbrella of Dubai Holding with Sheikh Ahmed confirmed as its Chairman.

In January 2020, Dubai Council was formed, and Sheikh Ahmed was appointed as the Commissioner General of “Dubai economy” pillar to oversee the Department of Economic Development, Department of Tourism and Commerce Marketing, and Dubai’s free zones, airports, ports and customs.

Sheikh Ahmed holds several government positions and plays an increasingly pivotal role in leading the emirate’s finance and energy sectors. Despite his numerous business activities, he is Patron to many charitable organisations. He has also received numerous accolades from various Governments and multi-nationals organisations.

Sheikh Ahmed has a bachelor’s Degree from the University of Denver, Colorado, USA. He is well known internationally for his contribution to the development of aviation in the region. The Royal Aeronautical Society, one of the industry’s oldest and most respected professional associations honoured his achievements in aviation with a fellowship of the Society at the 1994 Farnborough Air Show in the UK. In May 2013, he was presented with an honorary Degree of Doctor of Science from City University London – Cass Business School in recognition of his outstanding leadership in the development of professional sectors including aviation, finance, banking and entrepreneurship among others in the UAE.

EXECUTIVE CHAIRMAN'S BIOGRAPHY

His excellency dr. mohammed alzarooni, executive chairman of diez authority.

With over 25 years of experience leading and developing free economic zones, H.E. Dr. Mohammed Alzarooni is considered one of the world’s top free zones influencing leaders. In 2021, H.E. Dr. Alzarooni was appointed as Executive Chairman of Dubai Integrated Economic Zones Authority (DIEZ), holding three of Dubai’s pioneering Free Zones, Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity.

H.E Dr. Mohammed Al Zarooni

In 2000, H.E. Dr. Al Zarooni was appointed as Director-General of the Dubai Airport Freezone Authority (DAFZA), which, through his visionary leadership, quickly grew to become one of the top-performing free zones in the world. In 2002, the Dubai Government appointed him as Vice Chairman and CEO of the Dubai Silicon Oasis Authority (DSOA), one of the region’s most advanced and successful technology hubs.

In 1995, His Excellency joined the Dubai Civil Aviation Authority as Director of Research and Administration. At that time, he was one of the most prominent officials responsible for establishing the Dubai Airport Free Zone in 1996. Before joining the Department, he worked in the Ministry of Education for 8 years.

In 2014, H.E. Dr. Al Zarooni was instrumental in conceptualizing and establishing the non-profit World Free Zones Organization. He is presently the chairman of this multilateral organization which acts as an association for all free zones worldwide. In 2015, he was appointed as the Secretary-General of the Dubai Free Zone Council.

A prominent personality in Dubai’s economy, H.E. Dr. Al Zarooni is a member of the Dubai Economic Council. He also sits on several significant institutions’ boards, including Dubai Aerospace Enterprise, Emirati Human Resources Development Council, and RIT Dubai Board of Directors. He is also the Chairman of Tradeling Board (a B2B ecommerce marketplace). H.E. Dr. Al Zarooni is an accomplished speaker on free zones and invited to address keynotes worldwide at numerous conferences and forums.

H.E. Dr. Mohammed Al Zarooni graduated with a Ph.D. Degree from the University of Durham in the U.K. His doctoral thesis was “The Position of the Free Zones in Economic Development.”

Meet the team that makes it happen.

Amna Lootah

Director General at Dubai Airport Free Zone (DAFZ)

Amna Lootah is Director General at Dubai Airport Free Zone (DAFZ). With over 20 years’ extensive experience, she is one of the leading experts within the special economic zones sector in the region.

As part of her critical role at the heart of the organization, Lootah is responsible for the design and implementation of DAFZ’s strategic plans, overseeing the executive leadership team to ensure the efficient achievement of the organization’s objectives, besides ensuring international regulations and standards of practice are upheld.

Lootah’s previous experience at DAFZ has seen her successfully support the organization’s growth objectives across a wide range of business functions from finance, sales and marketing, innovation and future, digital intelligence, customer experience, lease and licensing, property management and strategic partnerships.

In addition to her role as Director General, Lootah is the director on the JV Board and has led the development of Dubai Commercity, a free zone dedicated to the growing e-commerce market in the Middle East and North Africa (MENA) region. Spread over an area of approximately 2.1 million square feet with an investment of over AED 3.2 billion, Dubai CommerCity provides a unique e-commerce ecosystem to global and regional brands operating in the MENASA (Middle East, North Africa, and South Asia) region.

Lootah is also currently a board member for Tradeling, the world’s first B2B smart commerce base in the UAE for the MENA region. With a dedicated team of technology and business enthusiasts committed to making B2B trading simpler, faster and more secure, Tradeling aims to become the leading platform for all business buying. This objective is supported by Dubai government through DAFZ.

Adding to her long list of achievements, Lootah also spearheaded the niche Islamic Economy Strategy for DAFZ, leading to the formation of the Halal Trade and Marketing Centre (HTMC),, a global business development centre positioned to activate halal trade flows through the region. In her capacity as a director, Lootah is the leading caretaker of the centre.

Lootah holds a Higher Diploma in Banking and Finance and a bachelor’s degree in Business Administration from the Higher Colleges of Technology – Dubai Women’s College. In addition, she is a graduate of the 1st batch of “Dubai Leaders Program”, Year 2021 under Mohammed Bin Rashid Center for Leadership Development, run in coordination with IESE Business School, University of Navarra, Spain.

Dr. Juma Al Matrooshi

Director General at Dubai Silicon Oasis (DSO)

Dr. Juma Al Matrooshi is Director General at Dubai Silicon Oasis (DSO). In his capacity as Director General, Dr. Al Matrooshi is responsible for the development, implementation and communication of DSO’s strategy, including the organization’s mandate, mission, vision and values. Dr. Al Matrooshi also oversees the leadership team, providing his expert guidance and support to ensure that DSO’s business objectives are achieved efficiently and effectively, all the while upholding international best practices. Moreover, Dr. Al Matrooshi assumes leadership for the financial performance of DSO, guiding the development, monitoring and management of DSO’s annual budgets. In sum, he is responsible for delivering on short, medium and long-term goals, ensuring the correct team, policies, procedures, technology and all other essential tools are in place to ensure the success of DSO.

Besides his role at DSO, Dr. Al Matrooshi is a representative for the Dubai government at general assemblies for publicly listed companies. He has also served as a member of several committees, including the Ministry of Economy and Commerce’s trademark committee, Dubai Marketing and Tourism’s development board, and the UAE Banking Institute’s insurance brokerage committee. Dr. Al Matrooshi is the current Assistant to The Secretary General of Dubai Freezone Council; he is also serving as one of the Board Members of World Freezone Organization; Dr. Al Matrooshi is one of the incumbent members of the UAE Economic Acceleration Unit and he is presently a member of Dubai Government Economy Team.

With vast experience in finance, commercial operations and licensing, among other areas, Dr. Al Matrooshi joined DSO in December 2006. Before joining DSO, Dr. Al Matrooshi held several senior governmental positions, including running commercial licensing at the Dubai Economic Department (DED).

Dr. Juma holds a doctorate in General Management from the Golden Gate University of San Francisco, California and an MBA in Business Development from the Western University, Michigan, USA.

Eng. Muammar Khaled Al Katheeri

Chief Engineering & Smart City Officer

Eng. Muammar joined DSO in April 2006 as the Director of Planning and Construction Management Department, enriching DSO with his wide knowledge and experience in construction and project management.

In 2010, DSOA merged the Planning & Constructions Department with the Operations & Facilities department under one leadership. Following this, Eng. Muammar was appointed as Executive VP of Engineering Management. In 2014 Eng. Muammar was appointed as the chairman of the smart city project committee in DSO.

End of 2018, the Dubai Airport Free Zone (DAFZ) commenced with establishing the DUBAI COMMERCITY Project, the first and leading e-commerce free zone in the MEASA region. Following to his track record in the fields of leadership, engineering and smart city, Eng. Muammar Al Katheeri was assigned as the Chief Project Officer of DAFZ’s COMMERCITY with the responsibility of managing the project.

Prior to joining DSO, Eng. Muammar served with major real estate companies in the UAE, he was appointed as the Projects and Maintenance Director at Emirates Real Estate Corporation, where he worked on major projects including the Ministries Complex project AUH; the Ministry of Education, Ministry of Public Works, Ministry of Labor in Dubai; UAE Embassies in Germany and Australia, and the UAE Consulate in Munich, among other prestigious projects. He also served as a Design Engineer at the Ministry of Public Works in Dubai, and as a Project Design Manager at Etisalat in addition to being a partner at a local design consultancy.

Eng. Muammar holds a Master’s degree of Science in Innovation & Change Management from Hamdan Bin Mohammed Smart University in Dubai, and a Bachelor degree in Architectural Engineering from Al Ain University, UAE. In 2021, he successfully completed the Dubai Leadership Program from the Mohammed Bin Rashid Center for Leadership Development (Dubai Leaders Batch 1).

William Chappell

Chief Financial Officer

William Chappell is the Chief Financial Officer of Dubai Integrated Economic Zones Authority previously acting as The Chief Financial Officer and Executive Vice President of Technology and Entrepreneurship at Dubai Silicon Oasis (DSO). In his capacity, Chappell is responsible for DIEZ’s long-term financial health, providing his expert strategic inputs on the development and implementation of relevant policies and procedures to facilitate the achievement of the organization’s strategic business objectives. As part of his role, Chappell assumes responsibility for maximizing returns on stakeholder investments through the effective management of the company’s financial resources.

As the Chief Financial Officer of DSO since its inception in 2005, he was responsible for the financial management of the government free zone, ensuring that strategic business objectives were met, stakeholder investments are maximized, and the organization experiences long-term financial health. In addition to his role as CFO, he has overseen the development of DTEC, a thriving technology start up ecosystem supporting entrepreneurs.

Chappell’s financial experience spans more than 37 years, stretching back to when he first joined PricewaterhouseCoopers (PWC) in 1984 as an auditor. His experience involved a variety of multinational and publicly listed companies in the UK followed by five years in Silicon Valley responsible for primarily technology clients. After leaving PWC in 1995 he spent ten years in the tech industry as CFO, including Trikon Technologies – a NASDAQ listed Semiconductor equipment company, a backup storage company and a start-up software company based in Germany.

Yousuf Ali Behzad

Chief Officer of People and Organizational Development

Yousuf Ali Behzad is the Chief Officer of People and Organizational Development at Dubai Integrated Economic Zones Authority (DIEZA).

Mr. Yousuf heads numerous key areas in DIEZA, including Human Resources, Organization Transformation, and Partnership & Protocols. He is in charge of creating, maintaining, and driving DIEZ’s people-focused human resources strategy, as well as attracting, motivating, developing, and retaining the best talents available enabling DIEZA to become an employer of choice. In addition to that, Mr. Yousuf is also in charge of the organization’s transformational initiatives, which include organizational performance improvement, ongoing research and development, and maximizing excellence and business development. Mr. Yousuf also oversees DIEZA’s partnerships and protocol operations.

Mr. Yousuf is a Professional Certified Coach (PCC) by the International Coaching Federation (ICF, USA) and a founding member of the Association for Coaching (AC, UK) in the GCC. Marshall Goldsmith has recognized him as a Certified Team Coach, and Certified Executive Coach from Singapore.

Previously, Mr. Yousuf has held key positions as Assistant Director General, People Growth and Strategy at the Dubai Airport Freezone and Director of the Planning and Statistics Department at the Dubai Health Authority in the past.

Mr. Yousuf graduated from the University of Leeds in the United Kingdom with a master’s degree in planning and policy and his dissertation was specialized in key human resources practices. He graduated from the H.H. Sheikh Mohammed Bin Rashid Program for Leadership Development in addition to his undergraduate studies. He is also a member of the Dubai Plan 2021 and took part in the H.H. Sheikh Hamdan Student Coaching Program.

Badr Buhannad

Chief Corporate Support Officer

Badr Buhannad is currently Chief Corporate Support Officer at Dubai Integrated Economic Zones Authority (DIEZA). In his capacity, Buhannad is responsible for overseeing information Technology, Digital and Supply Management at DIEZA to ensure the organization utilizes the most cutting-edge solutions for the effective and efficient management of operations. As part of his role, he oversees the development and implementation of relevant policies and procedures to ensure corporate support operations run smoothly and are effectively integrated into the organization.

Buhannad brings more than 20 years of leadership experience in strategic planning, including technology strategies, organizational performance, audit and risk, business development and cost management.

During his time with DSO, Buhannad has led multiple major business transformations and achieved outstanding successes. Among them, the development of Dubai Silicon Oasis 2021 Strategic Pillars (Smart City, Desired Society, Technology Hub, Happiest People); in alignment with the Dubai 2021 Plan reintroducing impactful corporate values to reflect the goals and ambitions of the organization; end-to-end re-engineering of the supply chain resulting in improved efficiency; leading the implementation of digital transformational strategies, and many more.

Buhannad’s previous experience includes Chief Audit and Risk Officer with Dubai International Financial Centre Authority (DIFCA). In his capacity with DIFCA, Buhannad led the creation of an internal audit and risk department at DIFCA… Badr has earlier worked with Dubai World, as well as the Ports, Customs and Free Zone Corporation.

Buhannad holds a bachelor’s degree in Business Administration and a Higher Diploma in accounting from the Higher Colleges of Technology, Dubai – UAE.

Abdulrahman Basaeed

Chief Audit And Risk Management Officer

Abdulrahman Basaeed is Chief Internal Audit and Enterprise Risk Management Officer.

His role is to lead in conducting operational, financial and compliance audit projects and special assignments in various business units in DIEZ; In addition to Directing and overseeing risk management activities.

Abdulrahman holds a Master of Science in Accounting and Finance from Napier University, Edinburgh, Scotland, where his Dissertation subject was: “Implementation of observations and recommendations of the Internal Audit Departments in selected government sectors in Dubai – obstacles and solutions”. He brings a wealth of experience, where he has (25) years’ experience in Internal Audit.

Other achievements include receiving Forbes Middle East Entrepreneur Award – Retail Sector in 2015; Awarded “Distinguished Team” for Dubai Government Excellence Program for the year of 2001; was selected candidate for Distinguished Financial Employee for Dubai Government Excellence Program for the year of 2000; and awarded as distinguished employee (Dubai Customs) for the year of 1999.

Abdulrahman is also a Member of the Institute of Internal Auditors (IIA).

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• Tourism - Chapter 9

Report 2019

• Dubai and the Global Economy (in 2018-2019) - Chapter 1
• Recent Developments in Dubai's Economy - Chapter 2
• Mapping Dubai’s International Trade Advantages in Goods and Services – (Theme of the Report) - Chapter 3
• Wholesale and Retail Trade - Chapter 4
• Transport, Storage, Communications and Information Technology - Chapter 5
• Banking, Insurance and Capital Markets - Chapter 6
• Industry - Chapter 7
• Real Estate Activities - Chapter 8
• Developments in Social Indicators - Chapter 10

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Free Zones unlocking economic potential

Dubai is home to more than 30 free zones targeting economic sectors ranging from transport and logistics to healthcare, media and technology. Each free zone provides private enterprises with world-class infrastructure, zero taxes and 100% ownership. Together, they exemplify the success of Dubai’s economic diversification programme.

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Department of Economy and Tourism Launches ‘Dubai Unified Licence’ Initiative for Streamlined Business Processes

Dubai’s Department of Economy and Tourism (DET) has announced the launch of the ‘ Dubai Unified Licence ’ (DUL), a unique commercial identification provided to all businesses in Dubai with the aim of achieving a streamlined approach to various business processes.

Issued to existing and newly established businesses in Dubai, operating with either a mainland or a free zone licence, the DUL initiative introduces a unified digital registry. Launched in collaboration with the Dubai Free Zones Council, the registry consolidates all economic establishments in Dubai and its Free Zones into a single platform for data management, collation and sharing, serving as a reliable single digital information source.

The initiative aims to standardise and streamline Dubai’s business processes in accordance with global best practices, ensuring that the latest company records, including licence details and data, are consistently maintained within the registry.

Streamlined Approach

By simplifying the setup and operational procedures for businesses in Dubai, the 'Dubai Unified Licence ' enhances efficiency and reduces the time required for companies to establish and manage their operations. This streamlined process contributes to bolstering Dubai’s competitiveness as a business-friendly destination. Such efficiency is also particularly attractive to international investors and entrepreneurs seeking a hassle-free business environment, further solidifying Dubai's appeal as a preferred global business hub.

Additionally, the unified digital platform ensures greater transparency and ease of access to business-related information, further enhancing Dubai's appeal as a dynamic and trustworthy investment destination. Consequently, these features collectively strengthen Dubai's position on the global economic stage, aligning perfectly with its aspiration to be recognised as one of the top three cities worldwide for business and investment.

As part of the initiative, establishments will undergo thorough validation, verification and screening by the appropriate authorities in order to receive their unique digital identity. To date, DET has issued over 50,000 licences, with plans to issue more in the coming period, covering all registered companies in Dubai mainland and in Free Zones.

Helal Saeed Al Marri, Director-General of the Dubai Department of Economy and Tourism , said,

“Aligned with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the city's forward-thinking mindset has spurred strategic initiatives, plans and policies fostering sustainable economic growth and consolidating Dubai's standing as a global city of innovation and excellence. The ‘Dubai Unified Licence’, a key initiative within the Dubai Economic Agenda, D33, exemplifies our dedication to facilitating ease of doing business, promoting transparency, and embracing digital-first practices. Seamlessly integrating with Dubai’s advanced digital technology infrastructure, it harnesses our smart city capabilities to drive business growth and strengthen Dubai’s position among the world’s top three global cities.

DET has collaborated closely with the Dubai Free Zones Council to ensure the seamless implementation of the DUL initiative. This partnership was crucial in integrating the diverse aspects of this initiative, ensuring a comprehensive approach to business facilitation in Dubai.

Dr. Mohammed Al Zarooni, Secretary-General of the Dubai Free Zones Council , said,

“Dubai’s commitment to ease of doing business stands as a cornerstone of the vision set forth by HH Sheikh Mohammed bin Rashid Al Maktoum, aiming to construct a future-proof, agile, and sustainable economy capable of adapting to shifts and transforming them into opportunities. The successful completion of the ‘Dubai Unified Licence’ initiative is a testament to the teamwork and constructive cooperation among the Dubai Free Zones Council, the Free Zones Authorities in Dubai and the DET team. It has established a model for synergising efforts across various specialities, resulting in the achievement of a unified licence system in record time.”

The DUL facilitates easy access to company information for government entities, service providers and the public. Businesses are allocated a licence number specific to the mainland or free zone authority of their incorporation, promoting efficiency, transparency, and accountability. With a digital repository and consent capability, the DUL enables instant data sharing between government entities, the private sector and service providers. Moreover, the DUL reinforces the compliance framework outlined in the national AML/CFT strategy, ensuring the integrity of the UAE economy and the global financial system.

Key Features

The ‘ Dubai Unified Licence ’ presents a range of key features and benefits for users. It provides access to verified DUL data housed in a digital repository, streamlining business verification processes in various interactions. The issuance of No Objection Certificates (NOCs) and permits for economic activities is simplified through a unified and streamlined process. Furthermore, the DUL offers unified and verified information about existing businesses, proving advantageous for prospective owners seeking details about operating businesses in the emirate. Looking ahead, the DUL aims to facilitate banks in opening accounts for Dubai-based companies with enhanced ease and efficiency.

Ahmad Khalifa Al Qaizi Al Falasi, CEO of Dubai Business Licence Corporation (DBLC) , said,

“The launch of the ‘Dubai Unified Licence’ is another significant milestone in digitalising government services in the emirate. This initiative provides a unified identification for all economic establishments, creating a centralised database while adhering to privacy policies. Implementing the DUL simplifies and streamlines consent-driven data interchange and transactions between companies, service providers and government establishments. It will enhance the customer experience and expedite commercial transactions for businesses dealing with both public and private entities.”

Businesses can use their unique DUL QR Code on their premises, websites and social media accounts instead of presenting the traditional trade licence certificates. This QR Code enables government entities, service providers, suppliers and customers to scan and retrieve information about the company. During the current phase, existing businesses and commercial establishments in Dubai, including those in free zones, will receive their unique ‘Dubai Unified Licence’ Number and associated QR codes upon completion of the data update process.

DET’s Dubai Business Licence Corporation , will oversee the operation, management, development and supervision of the DUL system. Dubai Free Zones Council will coordinate with each free zone to regularly communicate with their respective licence holders to collect updated licence data and contact information.

News Source: Emirates News Agency

Written by HiDubai Newswire

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Home Economics, Policy & Regulation United Arab Emirates: Trade, Finance, And Tourism Drive Economic Growth

Economics, Policy & Regulation

United Arab Emirates: Trade, Finance, And Tourism Drive Economic Growth

April 4, 2024

Author: Valentina Pasquali

Dubai and the other emirates have made globalization work in the Gulf by leveraging oil revenue to create a more open, diversified economy.

Good governance, political foresight, and fortuitous geostrategic developments have produced extraordinary growth in Dubai and the other states of the United Arab Emirates (UAE) since the Covid-19 pandemic. But does this federation has what it takes to sustain its newfound role as a global trade, finance and tourism hub amid increasing regional competition, the looming energy transition and the push-and-pull of global politics?

Close observers are optimistic that, with the right doses of wisdom and luck, Dubai and the rest of the UAE can continue riding the crest of the current wave.

“Dubai has done an extremely good job at marketing itself,” says Oliver Cornock, editor-in-chief at consultancy Oxford Business Group (OBG). “It has complemented that with a very clear open-for-business set of policies,” including free zones enjoying significant tax and foreign ownership advantages, ease of getting in and out and “increasingly, an environment where people want to live, work and play.”

Riding High

According to government data obtained by Bloomberg, nearly 412,000 business licenses were active in Dubai last year, 30% more than during the previous year and a whopping 75% rise from 2021. Last year also saw the largest volume of new company registrations in the UAE’s preeminent special economic zone, the Dubai International Financial Centre (DIFC): 1,451 more, for a 34% year-on-year (YoY) increase, according to the DIFC.

Overall, Dubai welcomed more than 100,000 new residents in 2023, following an influx of some 71,600 in 2022, according to figures from Dubai Statistics Center. The arrivals are propelling a dramatic rise in real estate prices, which have soared to an all-time high.

Dubai’s numbers stand out, but positive trend lines are visible in the other six UAE emirates, in particular Abu Dhabi and Ras Al Khaimah. The Abu Dhabi Department of Economic Development reported in January that active business licenses increased nearly 11% from 2022 to 2023, for a new total of more than 143,600. This helped drive 8.6% non-oil economic growth during the first nine months of last year, according to the Statistics Centre–Abu Dhabi.

Meanwhile, the Ras Al Khaimah Tourism Development Authority reported the sector’s best year ever in 2023, with a 24% jump in international arrivals over 2022 and a record 1.2 million overnight visitors, up 8% on an annual basis.

According to the UN Conference on Trade and Development, foreign direct investment (FDI) inflows across the UAE rose 10% YoY in 2022, reaching nearly $23 billion, while global FDI fell 12%.

“The pandemic was a very important stress test for many economies,” says Bernardo Bortolotti, executive director of the Transition Investment Lab at New York University in Abu Dhabi. “The UAE has really proven an amazing degree of resilience.”

Over some five decades, forward-looking leadership has managed to steer the federation from its formation in 1971 to oil juggernaut to regional financial center. Oil-related revenue filled public coffers and propelled the rise of a sophisticated financial management industry.

According to Global SWF, as of March 2024, the Abu Dhabi Investment Authority is among the top 10 largest sovereign wealth funds in the world by AUM. The Investment Corporation of Dubai, Mubadala, and Abu Dhabi Developmental Holding Company are in the top 50, followed by Emirates Investment Authority. An abundance of foreign players rounds up the UAE’s highly developed financial landscape.

Pandemic And Recovery

The Covid-19 pandemic hit the UAE hard. Outward-facing, trade-oriented Dubai saw its GDP shrink nearly 11% in 2020 while the federation’s national economy contracted by some 5%.

Still, there were silver linings. “Dubai was quite aggressive in the vaccination program,” says James Swanston, an economist specializing in the Middle East and North Africa at Capital Economics. “It very quickly approved the big vaccines … and kept up very stringent lockdown measures.”

Once they relaxed social-distancing measures and opened the economy, the authorities solved two problems at once by making Dubai an international vaccination destination. New visa options targeting wealthy investors, digital nomads, and even affluent retirees are adding new, longer-term residents to the mix.

As the world emerged from the pandemic, the UAE also found itself benefiting from geopolitical developments, chiefly Russia’s war in Ukraine and mounting tensions between the US and China. “The UAE has been able to keep good relationships with most parties,” says Bortolotti.

The Road Ahead

Questions remain whether Dubai, with nearly 3.7 million people, can keep on such a successful path. Its desert climate requires enormous resources to make life comfortable. Climate change, combined with plans in Dubai to increase the number of residents by 2.1 million in the next 16 years, could put the environment at risk of serious degradation.

But Bortolotti expects the UAE’s tight oversight of immigration to provide some comfort.

“What worries me is overly rapid urbanization, absent the right institutions and regulations in place,” he says. “But I’m not sure [this] could ever take place in such a closely regulated country as the UAE, where every single immigrant comes with a job.”

Global efforts to reduce carbon emissions—strengthened by an agreement by nearly 200 nations at the latest UN Climate Change Conference, held in Dubai in December—also loom over the local economy. A collapse in the price of oil amid the energy transition would impact Abu Dhabi and other emirates more directly than Dubai, which is less dependent on energy. But the whole federation would struggle with declining government revenue and the resulting strain on the largesse it shows its citizens.

Nevertheless, Swanston argues that the UAE’s low energy production costs, strong public finances and rapid diversification away from the energy industry put it in a relatively good position to sustain reduced oil prices, even in the long term.

A Complex World

More and more neighboring countries, meanwhile, are pushing to emulate the UAE’s, and particularly Dubai’s, economic model. Saudi Arabia has been directing enormous firepower toward establishing itself as a global business destination, including its effort to poach global firms’ regional headquarters.

“Ten to 15 years ago, people would often set up business in Dubai in a free zone to do business with Saudi Arabia, because at the time, the environment was not quite conducive,” says the OBG’s Cornock. Although that’s changing, he says, Dubai still “has that first-mover advantage.”

A resolution of the war between Russia and Ukraine, however distant, could see many of the estimated tens of thousands of Russians who have flocked to the emirates return home. Real estate prices would likely take a hit, threatening the health of heavily indebted property and hospitality companies and their government-linked sponsors. “It’s a much lower risk than even three years ago, but a looming risk within Dubai,” Swanston cautions.

Taking the long view, Bertolotti suggests that the global landscape now taking shape, with the rise of Asia an indisputable fact and that of Africa just around the corner, will only buttress the position of Dubai and the UAE at the center of global politics and the world economy.

“I see at the very global level an incredible reallocation of economic and political power in the next decade,” he says. “New economic and financial realities will come to the fore, and the location advantage that the UAE has, especially in terms of its exposure to the so-called global south, is unique.”

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