Dubai World Trade Centre Authority (DWTCA) Free Zone today published results from the first half of the year, revealing a sharp uptick in the number of companies choosing DWTCA as the destination for their Dubai business, and marking an increase in the number of direct jobs created within the Free Zone.
The number of tenants in DWTCA Free Zone recorded significant year-on-year growth, up 21% to 2,735 at the end of H1 2024, from 2,259 in H1 2023.
The number of registered companies in DWTCA also rose, up 19% in the same period last year, to reach 2,818 registered companies in H1 2024, an increase from 2,366 companies at the mid-point of 2023. The number of direct jobs within the free zone also grew to 8,223 – a 5% increase on the same period last year, from 7,837 in H1 2023.
Abdalla Al Banna, VP of Free Zone Regulatory Operations at DWTC, said, “The DWTCA Free Zone has demonstrated exceptional performance aligned with the D33 Agenda’s visionary goals. Our dedication to providing a dynamic and business-friendly environment has resulted in significant benefits for the enterprises operating within our jurisdiction.”
In H1 2024, DWTCA officially extended its Free Zone jurisdiction to include One Za’abeel, the iconic sustainable project developed by the Investment Corporation of Dubai.
The addition of One Za’abeel increased the Free Zone’s rental space, while granting companies and organisations within the landmark mixed-use development access to a host of advantages provided by DWTCA, including 100% foreign ownership, exemption from customs duties, dual-licensing opportunities, 0% Corporate Tax, simplified procedures for visas and permits, and a wide range of flexible office solutions.
The Free Zone forged a new partnership with Emaratech, part of Investment Corporation of Dubai, to integrate and digitise government services and systems across DWTCA. This partnership is designed to simplify and streamline applications and processing of visas, establishment cards and other documentation, saving businesses operating within the Free Zone time and resourcing.
A training and development collaboration with Dubai’s Department of Economy and Tourism (DET), also rolled out in H1, focused on furthering access and increasing opportunities for national talent within the Free Zone sector.
Home to companies across over 40 diverse sectors, DWTCA Free Zone is committed to ensuring that business set-up is a simple and streamlined five-step process for every tenant
Source: mediaoffice.ae