UAE: DIEA records 42% profit growth in 2022 – News

This resulted in a 9% increase in rental income last year and a 69% increase in revenue from business licensing, government services and other services

Operating profit of Dubai Integrated Economic Zone Authority (DIEZ) will increase by 42% in 2022 compared to 2021, while total revenue will increase by 29%.

The excellent performance of 9% growth in rental income and 69% growth in revenue from business licenses, government services and other services in 2022 marks the effectiveness of DIEZ’s new integration model and the authority’s increasing contribution to the economic development of Dubai and the UAE.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Integrated Economic Zone Authority (DIEZ), said: “These remarkable results herald a promising future for DIEZ. “Going forward, underscores the success of the Authority’s unique approach to supporting businesses and investors. The result reinforces DIEZ’s position as a platform for attracting foreign direct investment and our strategic role in achieving the goals of Dubai’s Economic Agenda D33, despite the size of the emirate’s economy double and cement its position as one of the world’s top three cities for the next decade.”

“The strong performance reflects our commitment to delivering a superior business model, which strongly drives DIEZ’s desire to play a greater role in enhancing the competitiveness and economic attractiveness of Dubai and the UAE. Growth in the next phase We will continue to foster a culture of innovation and excellence, and strengthen our global benchmark solutions, facilities, strengths and services.In 2021, DIEZ contributes 5% to Dubai’s GDP and 5% to the emirate’s non-oil foreign trade 11 percent,” heg added.

Dr Mohammed Al Zarooni, Executive Chairman of the Dubai Integrated Economic Zone Authority (DIEZ), said: “Our strong results in 2022 are driven by the strategic integration of economic zones that focus on fostering growth and expansion opportunities and Businesses provide a supportive environment and investment community. The unwavering support of our leadership enables us to achieve our goals and transform DIEZ’s business ecosystem through ambitious strategic plans, innovative initiatives and fruitful local, regional and global partnerships. Today , DIEZ has more than 22,000 companies and more than 41,000 employees.”

“These indicators encourage us to continue to make a significant contribution to expanding trade in an effort to drive economic growth and diversification in Dubai and the UAE. By keeping up with innovation trends and providing a flexible and supportive environment, we seek to further foster the growth of the business,” he said added.

Strategic partnerships with multiple government and private entities in 2022 further contributed to DIEZ’s record performance as they increased investment flows and growth in research, development and innovation. This is in line with the Authority’s vision to help strengthen the economic foundations of Dubai and the UAE, accelerate the growth of business activity and enhance the attractiveness of the business environment.

Important agreements signed by DIEZ in 2022 include the development of the Food Technology Valley project in Dubai with wasl Asset Management Group, which aims to establish a modern integrated city to strengthen food production and strengthen Dubai’s global leadership in this field.

DIEZ also continues to work with du, a subsidiary of the Emirates Integrated Telecommunications Company, to provide advanced technology and communication capabilities as well as competitive smart city solutions to the economic zones regulated by DIEZ. The collaboration supports Dubai’s vision to accelerate the adoption of advanced technologies and foster innovation-driven growth.

DIEZ also reaffirmed its continued support for young talent in the UAE, as well as its commitment to develop a new generation of leaders and experts in logistics through its partnership with DP World within the framework of the ‘Tumoohi’ initiative. The program provides opportunities for national talent with professional and practical experience to learn global best practices and standards.

Earlier this year, DIEZ signed a Memorandum of Understanding with the Dubai Health Authority (DHA) to provide exceptional investment opportunities in the healthcare sector and support the establishment and growth of start-ups.

In the coming years, DIEZ will continue to advance its strategy, focusing on staying ahead of the latest global economic, business and investment developments and trends, implementing innovative international practices and building productive partnerships with key stakeholders in key industries.