His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Integrated Economic Zones Authority (DIZA), announced the Authority’s operational results for the first half of 2024, which showed outstanding growth across a range of strategic performance indicators driven by high occupancy rates and strong performance across all business sectors, reinforcing the Authority’s position and its economic zones, including Dubai Airport Free Zone, Dubai Silicon Oasis and Dubai CommerCity, at the heart of Dubai’s commercial and non-oil economy.
The results showed that the Authority achieved a growth of 12% in total revenues, 18% in net profits, and 7% in operating profits, in the first half of this year compared to the results announced at the end of 2023, so that “Deez” continues its steady and sustainable growth with these results.
These results coincide with DEWA recording growth in the total number of companies based in the economic zones under the authority’s umbrella as their headquarters and for their local, regional and global operations, recording growth of more than 4% by the end of the first half of 2024, compared to the end of 2023, as DEWA currently hosts more than 78,000 specialized employees, an increase of 12% over last year.
realistic translation
On this occasion, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Integrated Economic Zones Authority (DIZA), said: “The operational performance results of Dubai Integrated Economic Zones Authority (DIZA) in the first half of this year are a realistic translation and reflection of its unwavering commitment to the continuous development of its economic zones, in line with the Emirate of Dubai’s tireless efforts to achieve leadership in various sectors, including the free economic zones sector, in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, and the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of the Executive Council of Dubai.”
His Highness added: “These positive indicators reaffirm DEES’ keenness to continue its effective contribution to enhancing the prestigious and growing position of the Emirate of Dubai as a pivotal hub in the global trade movement and an attractive investment destination, due to its comprehensive and integrated economic model, which is characterised by its extreme flexibility and distinctive incentives, which provide companies with investment opportunities to establish, develop, and sustain business continuity and growth. This falls within the framework of our efforts to increase the contribution of DEES’ economic zones in achieving the objectives of the comprehensive programme for developing foreign direct investment in Dubai, and supporting the objectives of the Dubai Economic Agenda.”And its ambition is to be among the top 3 economic cities in the world.
Promising opportunities
Commenting on the positive results achieved, His Excellency Dr. Mohammed Al Zarooni, CEO of Dubai Integrated Economic Zones Authority (DIZ), said: “These achievements made by DIZ are a natural and well-studied result, and the fruit of the wise and ambitious economic policies adopted by the Emirate of Dubai, thanks to the vision of its wise leadership and its sound directives, which are based on creating promising opportunities, providing incentives and attractive benefits, anticipating the future and always looking forward to the future, and continuously striving to achieve leadership in various vital sectors.”
Dr. Al Zarooni added: “DIYS is keen to continue achieving qualitative achievements and successive leaps in its operating profit results and total revenues at a steady upward pace. It is moving forward to improve the investment attractiveness of its three economic zones, enhance the emirate’s competitive position, increase its economic gains, and stimulate its non-oil foreign trade, all the way to consolidating Dubai’s reputation as a leading global city and a preferred destination for living, working, and investing in all its forms.”
At the beginning of this year, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Integrated Economic Zones Authority (DIZA), approved the Authority’s new strategy, which aims to enhance Dubai’s position as a leading regional and global destination for investment in all its categories and types, and contribute to implementing the emirate’s strategic priorities with regard to integrated economic zones, by focusing on three strategic axes and directions: “Excellence”, “Growth” and “Enrichment”.
The first half of 2024 also saw the Sandbox, a programme dedicated to accelerating the growth of businesses and emerging projects in the technology sector, provided funding worth AED 570,000 each to seven startups, after they successfully passed the programme, which received more than 1,500 applications. In addition, the Authority, in cooperation with Aramex, the logistics company, began a pilot test of Aramex’s autonomous robotic delivery system in Dubai Silicon Oasis, with the aim of later including its other economic zones, including Dubai Airport Free Zone and Dubai CommerCity, in a step towards integrating sustainable autonomous delivery vehicles into Dubai’s urban environment.
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