Dubai’s strategic location, coupled with its world-class infrastructure, business-friendly policies, and stable economy, has made it a highly attractive destination for global investors.
Its tax-advantaged environment and proximity to both Eastern and Western markets offer numerous advantages.
The global hub for business and tourism unveiled an ambitious $8.7tn (Dhs32tn) economic plan in January. Dubbed the Dubai Economic Agenda (D33), the initiative seeks to solidify the emirate’s status as a strategic economic gateway by doubling foreign trade and investment over the next decade.
Dubai, home to more than 28 economic free zones, has embarked on reforms to enhance economic competitiveness, GDP growth, and stability while promoting economic diversity.
The economic free zones have significantly contributed to growth and entrepreneurship by creating a favourable business environment.
To strengthen Dubai’s position as a global economic hub and attract more investments, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, created the Dubai Integrated Economic Zones Authority (DIEZ) in 2021, consolidating and integrating the products and services of Dubai Airport Free Zone (DAFZ), Dubai Silicon Oasis (DSO), and Dubai CommerCity, a joint venture between DIEZ and Al Wasl Properties.
His excellency Dr Mohammed Al Zarooni, executive chairman of DIEZ, emphasises that the three economic free zones play a crucial role in diversifying the economy, fostering innovation, and boosting growth, which aligns with the D33 initiative.
“The DIEZ plays a strategic role in the realisation of the D33, which aims to double the size of Dubai’s economy over the next decade. DIEZ’s three integrated economic zones – Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity – are key contributors toward this agenda and play a unique role in consolidating Dubai’s position among the top three economic cities in the world,” says Al Zarooni.
While DAFZ offers seamless global connectivity, thanks to its strategic location adjacent to Dubai International Airport (DXB), DSO has been instrumental in driving innovation in the emirate as the Dubai CommerCity is positioning the city as a global hub for digital commerce and supporting the region’s growing e-commerce market.
“Since its establishment in 2021, DIEZ has significantly evolved to align with the Dubai Economic Agenda. We have launched several initiatives, including Oraseya Capital, which is our venture capital arm, to support startups and SMEs,” explains Al Zarooni.
“Our focus has expanded to include the integration of AI and smart city solutions, further enhancing operational efficiency and sustainability. These efforts have solidified DIEZ’s role as a key player in Dubai’s economic landscape, driving innovation, economic diversification, and sustainable growth.”
Gulfbusiness
