[ad_1]
The Dubai Airport Free Trade Zone Authority (DAFZA) announced its operating results for the first half of 2021. The bonded area achieved new sales revenue growth, an increase of 8.3%, which was due to a 24% increase in lease area compared with the same period last year. These record results are an extension of DAFZA’s strategic plan in early 2021, which aims to target the recovering market after removing restrictions on global trade flows in the post-pandemic environment. In addition, the results show that compared with 2020, the demand for logistics units and leasing has more than doubled. These figures confirm that DAFZA provides its partners with excellent integrated services and its strategic location adjacent to Dubai International Airport, which can achieve local, regional and international markets.
DAFZA has achieved strong results by introducing a series of economic incentives and packages to attract new investors. This resulted in an 88.4% increase in the number of registered companies compared to the same period in 2020. DAFZA has maintained its position as the preferred destination for multinational companies and has successfully increased the number of registrations of these companies by 23.5% under the current circumstances. DAFZA also supports SMEs by providing advanced solutions, creating opportunities for business and service expansion in the region. This is in line with the direction of the UAE government and the Emirate of Dubai to support the sector and increase its economic contribution. As a result, the number of SMEs in DAFZA has increased by 96.4% over the same period last year.
DAFZA’s contribution to Dubai trade in the first three months of this year
DAFZA’s total trade in the first quarter of 2021 exceeded US$39 billion, an increase of 4.7% over the same period in 2020. The free trade zone has also achieved a trade surplus of 2.44 billion dirhams. Trade accounted for 11% in the first quarter of 2021, the same as the first quarter of 2020.
In terms of commodities, machinery, televisions, electrical equipment and pearls, semi-precious stones, and metals account for 94% of Dafza’s trade. The first category achieved a high growth of 32.4% in the first quarter of 2021, of which the group’s import value reached 14.1 billion dirhams and the export value reached 15.7 billion dirhams.
China is DAFZA’s largest trading partner, accounting for 31% of free zone trade in the first quarter of this year. A year-on-year increase of 56.4%, and an increase of 64% in imports.
Outstanding performance
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAFZA, said: “The strong performance of DAFZA in the first half of this year confirms its ability to attract and maintain foreign direct investment. And its strategic role in supporting His Highness’s vision is the Vice President, Prime Minister and Ruler of Dubai. Sheikh Mohamed bin Rashid Al Maktoum has positioned Dubai as the global economic capital. Our result is an expected response to the recovery of the global trade movement and the opening of markets, which proves the high confidence that the emirate enjoys globally .
“The Emirate will host the upcoming Expo 2020, which will showcase the outstanding experience of the UAE and the Emirate of Dubai in guiding and attracting investment and creating opportunities. This means that the upcoming stage will be a period of hopeful recovery that will be a great opportunity for us. The economy and other neighboring markets have a positive impact,” HH Sheikh Ahmed bin Saeed added.
His Excellency Dr. Mohammed Al Zarooni, Director General of DAFZA, said: “DAFZA has proven its ability to record excellence and robust results in light of the challenges posed by the global trade movement. DAFZA is keen to continue to participate in strategies and new markets and expand through its integrated business solutions. Its appeal. By doing so, DAFZA is adding real value to existing customers and new companies who wish to conduct business and trade through the Emirate of Dubai.
“DAFZA’s achievements in the first six months of this year highlight its relentless pursuit and enthusiasm for providing a single global business model, highlighting its leadership as one of the most advanced and developed free zones in the world. Thanks to DAFZA’s support 20 With more than 1,800 companies in multiple economic sectors, Free Zones also play a key role in supporting the economic diversification of the UAE and the Emirate of Dubai. DAFZA’s business environment flexibility and continuous efforts to support company operations are through the provision of various incentives These incentives enable companies to achieve strategic goals in different markets,” Al Zarooni added.
“This year will include DAFZA’s key initiatives and projects, which will strengthen its position as a key economic contributor to the Emirate of Dubai,” Al Zarooni concluded.
Strategic initiatives launched by DAFZA in the first six months
DAFZA has signed an agreement with the Securities and Commodities Administration (SCA). The agreement supports the supervision, issuance, issuance, listing and trading of encrypted assets in the free zone. The new agreement allows companies that use encrypted assets and cryptocurrencies to trade in DAFZA, because SCA will issue relevant approvals and permits. Through this partnership, DAFZA has expanded its business license and commercial activities, which will be combined with the incentives and services provided by the free zone. It will also provide a regulatory framework and a flexible legislative environment to enhance the experience of foreign investors.
DAFZA signed a strategic partnership with du of the Emirates Integrated Telecommunications Corporation (EITC) to automate business processes by launching a new non-objection certificate (NOC) platform. Through the partnership, both parties will make full use of Blockchain Edge, the UAE’s first locally hosted blockchain service. It also contributes to the realization of HH Sheikh Mohammed bin Rashid Al Maktoum’s vision, which aims to make Dubai the preferred destination for investment activities and the most convenient destination for conducting business globally. It also complies with the instructions of His Highness Sheikh Hamdan bin Mohamed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Committee, to reduce the government’s procedures for conducting business by 30% within three months .
In terms of its commitment to supporting SMEs, DAFZA has launched a unique innovation and entrepreneurship program called Scality, which aims to attract local, regional and global technology start-ups and enable them to establish and develop businesses in the region. Scality provides start-ups with the opportunity to establish and operate their business flexibly and conveniently in a commercially effective way. The plan allows them to easily and effectively increase the number of employees.
This year, DAFZA also launched the “Hayak” program, designed specifically for employees of companies operating in DAFZA. This is the first project of this kind across a free zone in the Emirate of Dubai. The new plan provides its members with various offers and services from different partners and well-known brands in different industries. The program will benefit more than 18,000 employees in more than 1,800 companies in 20 industries with regional headquarters in free zones.
[ad_2]
Source link