UAE free zones a success: Forbes ME

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Jafza offices

Source:  www.emirates247.com

Forbes Middle East has provided an in-depth study of regional free-zones, highlighting the important role they play in promoting investments, and to what extent they are affected by the current geopolitical events. The study aims to guide investors in determining the best Arab Free Zone for their business.

Jafza officesThe importance is based on the zone’s contribution to the GDP of the country. For example, the Jebel Ali Free Zone (Jafz) contributes 25% annually to the GDP of Dubai, while the Dubai Airport Free Zone (Dafz) contributes by 2.27% annually.

Khuloud Al Omian, editor of Forbes – Middle East, said: “Since the beginning of the year, the Forbes Middle East team has set out for a special investigation that shows the importance of the free zones in the Middle East and North Africa. This research has been designed to meet the needs of potential and current investors through evaluation criteria that are of importance to those of them who are currently choosing the best free zone for their business.

The magazine said the UAE has more than 30 free zones, of which 20 were extensively studied by Forbes. And the reason they are so successful, apart from the number of companies they hold, is the country’s political and economic stability, the many incentives, and the specialisation of the majority of the free zones due to the ingenuity and maturity of the Free Zone concept in the UAE.

Among the most prominent experiences was that of Tecom, that established the first specialised free-zone, through the creation if Dubai Media City, Dubai Internet City, Knowledge village and others.

These introduced the idea of “Clusters” where a free zone attracts a certain industry.

The study explores a variety of experiences and advantages of free zones in the region, in order to provide all the needs of Arab and foreign investors to take advantage of the opportunities provided by these areas.

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