DUBAI, The Dubai Airport Freezone Authority (DAFZA) has announced the results of its operational performance for the first half of 2021. The free zone achieved growth in new sales revenues with an increase of 8.3 percent, which resulted from the rise of 24 percent in the leased areas compared to the same period last year.
These record results are an extension of the strategic plan set by DAFZA at the beginning of 2021, which aims to target the recovering markets after lifting the restrictions on global trade movement in a post-pandemic environment. In addition, the results show an increase in demand for the logistic units and leasing by more than double when compared to 2020.
H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAFZA, said, “DAFZA’s strong performance in the first half of this year confirms its ability to attract and sustain foreign direct investments. As well as its strategic role in supporting the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, in positioning Dubai as the capital of the global economy. Our results were an expected response to the recovery of the global trade movement and the opening of markets, proving the high confidence the emirate enjoys globally.”
“The emirate will be hosting the upcoming major global event Expo 2020, which will shed light on the exceptional experience led by the UAE and the emirate of Dubai in directing and attracting investments and creating opportunities. This means the coming phase will be a promising period of recovery that will positively reflect on our economy and the other neighboring markets,” Sheikh Ahmed added.
DAFZA achieved strong results by launching a set of economic incentives and packages to attract new investors. This led to an increase in the number of registered companies by 88.4 percent compared to the same period in 2020.
DAFZA maintained its position as a preferred destination for multinational companies and succeeded under the current circumstances in increasing the number of registrations for those companies by 23.5 percent.
DAFZA also supported small and medium-sized companies by providing advanced solutions that create opportunities for commercial and service expansion in the region. As a result, DAFZA recorded an increase in the number of small and medium companies by 96.4 percent compared to the same period last year.
DAFZA’s total trade reached more than US$39 billion in the first quarter of 2021, with an increase of 4.7 percent compared to the same period in 2020. The free zone also achieved a trade surplus of AED 2.44 billion. As a result, DAFZA’s contribution to Dubai’s trade accounted for 11 percent during the first quarter of 2021, in which it maintained the same level in the first quarter of 2020.
Dr. Mohammed Al Zarooni, Director-General of DAFZA, said, “DAFZA’s achievements during the first six months of this year highlight its relentless pursuit and keenness to provide a single global business model, underlining its leadership as one of the most advanced and developed free zones in the world. The free zone also plays a key role in supporting the direction of the UAE and the emirate of Dubai in economic diversification, as DAFZA supports more than 1,800 companies across more than 20 economic sectors.”
Source: Emirates News Agency