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IFZA Dubai, the UAE’s most dynamic and truly international free zone community, has announced a surge of 177% in the number of new licensees in the first quarter of 2023 compared to the same period last year.
In terms of new registrations, free zones witnessed an average year-over-year growth of more than 100%. Popular categories for new company registrations in 2023 include management consulting, general trading, commercial enterprise and management investing, and (IT) consulting. Marketing management and marketing services through social media alone accounted for 20% of newly issued licenses.
Martin G. Pedersen, Chairman of IFZA, said: “IFZA’s commitment to strategic partnerships, developing world-class infrastructure and providing outstanding licensee support makes it an ideal choice for businesses looking to position themselves in an ecosystem built for growth. An attractive destination. We have been further strengthened by actively going out to form a trust line around the world, extending from IFZA to our global network of representatives and agents, and from them to clients with whom they have established trust relationships Power to exist internationally.
Growth in foreign direct investment
“Overall, we have brought in investors who will contribute to the growth of FDI in Dubai. In addition, we are developing several new programs to continue to increase our offerings to licensees, ensuring that they can operate safely and efficiently. business.”
Additionally, IT-related business activities, including IT consulting and IT web services, saw increases of 247% and 280%, respectively, in new registrations compared to 2021. Therefore, IFZA is working on the advancement of cutting-edge technology to further diversify products and services in response to the growing trend of digitalization.
In line with Dubai’s growing international population, IFZA has a diverse business-savvy community with specialist partners across the globe, including France, Germany, India, China and the United Kingdom (UK). Over the past five years, Indian nationals accounted for the largest proportion of IFZA shareholders at 27%, followed by French nationals at 14% and British nationals at 14%. Today, IFZA licensees are represented in more than 100 countries.
IFZA Dubai continues to enhance its value-added advantages as part of its business ecosystem to support and further attract investors and entrepreneurs to the region. In 2022, the Free Zone has partnered with leading banking institutions to provide licensees with exclusive digital banking services and solutions. IFZA has also launched a new division, IFZA Life, which offers customized health insurance solutions at competitive premiums to IFZA Free Zone licensees, professional partners and employees. — trade arab news agency
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