FINANCIAL NEWS

Dubai’s 22 free zones contribute 33% to its GDP

06 Mar 2012

(MENAFN) Dubai Airport Free Zone Authority’s (DAFZA) Director General, Dr. Mohammed Al Zarooni, said that Dubai’s 22 free zones contribute around 33 percent to the emirate’s gross domestic product (GDP), reported Emirates 24/7.

Al Zarooni, who also chairs the Dubai Free Zones Council, added that these free zones house 19,000 firms with 26,000 employees.

On the other hand, Hamad Buamim, Director General, Dubai Chamber, said that the Chamber supports business growth and the promotion of Dubai as an international hub for business and finance, adding that the value of its members’ exports and re-export in January rose 4.7 percent from a year earlier to USD5.66 billion.

It is worth noting that recently, Dubai established the Dubai Free Zones Council, which would be expected to unify and standardize the measures and procedures of registering and licensing new businesses, reducing investors’ time and efforts.

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