The Dubai Airport Freezone Authority (DAFZA) has announced the results of its operational performance for the first half of 2021 where the free zone achieved growth in new sales revenues with an increase of 8.3%
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.
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% 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%. DAFZA also supported small and medium-sized companies by providing advanced solutions that create opportunities for commercial and service expansion in the region.
DAFZA?s contribution to Dubai?s trade during the first three months of the year
DAFZA?s total trade reached more than US$39bn in the first quarter of 2021, with an increase of 4.7% compared to the same period in 2020. The free zone also achieved a trade surplus of US$6.64bn. As a result, DAFZA?s contribution to Dubai?s trade accounted for 11% during the first quarter of 2021, in which it maintained the same level in the first quarter of 2020.
In terms of goods, the group of machinery, television, and electrical equipment and pearls, semi-precious stones, and metals accounted for 94% of DAFZA's trade. The first group achieved high growth of 32.4% in the first quarter of 2021, where the value of the group's imports amounted to US$3.8bn and the importance of exports US$4bn.
Exceptional performance
Dr Mohammed Al Zarooni, director general of DAFZA, said: ?DAFZA proves its ability to record exceptional and robust results in light of the challenges posed by the global trade movement. DAFZA is keen to continue its engagement with strategic and new markets and expand its high attractiveness with its integrated business solutions. By doing this, DAFZA is adding real value to the existing customers and new companies looking to establish business and trade through the emirate of Dubai.?
Strategic initiatives launched by DAFZA during the first six months
DAFZA has signed an agreement with the Securities and Commodities Authority (SCA). The agreement supports the regulation, offering, issuance, listing, and trading of crypto assets within the free zone. The new agreement allows companies trading with crypto assets and cryptocurrencies to be licensed within DAFZA, as the SCA will be issuing the relevant approvals and licenses.
DAFZA signed a strategic partnership with du, from Emirates Integrated Telecommunications Company (EITC), to automate business processes by launching a new no-objection certificate (NOC) platform. The collaborative partnership will see the two parties take full advantage of the UAE?s first locally-hosted Blockchain service, the Blockchain Edge.
