Dubai Airport Freezone Authority (DAFZA) announced positive financial and operating results in the first half of 2020, as it achieved 92% of the sales target, with a growth in the number of companies by 39% compared to the same period last year.
In a statement yesterday, it revealed a record increase in the volume of exports in general, which reached 54% during the first quarter of 2020, at a time when China won the highest share of the DAFZA trade by 21%, at a value of 7.7 billion dirhams, and was driven by an increase of 12.4 % In the volume of imports during the same period, followed by India with 16.6% and a value of 6.1 billion dirhams, then Switzerland by 14% and a value of 5.1 billion dirhams.
"DAFZA" pointed to a surplus in the trade of all types of goods, amounting to 3.1 billion dirhams during the first quarter, topped by a group of machines, machines and electrical equipment that grew by 8.4% and at a value of 9.9 billion dirhams, followed by a group of precious stones, precious metals, jewelry and jewelery, which accounted for 34.5% of Total imports worth 5.8 billion dirhams.
New sales
New sales increased by 9% compared to the end of last year, to continue «DAFZA» to achieve positive results in terms of revenues and profits annually and semi-annually in various economic conditions and amid any challenges imposed by the environment of economic, investment and commercial markets. The increase in the total leased area increased by 2.10% compared to last year.
The free zone also witnessed an increase in the number of registered companies by about 19% over the results of last year, which confirms the reputation of the free zone, as a haven for companies looking to a safe environment that supports them in their growth process and achieving their strategic goals.
The number of small and medium-sized companies registered a remarkable growth of 23% compared to the results of last year, while office packages witnessed a significant increase represented in the growth of the number of companies by about 39% during the first half of 2020 compared to the same period last year, as this demand came in light of the attraction The packages, features and high flexibility that DAFZA grants.
Exceptional circumstances
His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Airport Free Zone Authority, said that the first half of this year witnessed exceptional difficult circumstances that led to the emergence of economic challenges and restrictions, pointing out that His Highness “DAFZA” demonstrated its success in overcoming this challenge in terms of various indicators and results Economic, including achieving a surplus of 3.1 billion dirhams in trade in all types of goods, and an increase in the volume of exports by 54% during the first quarter of this year.
His Highness added: "These results confirm the strategic flexibility and adaptation (DAFZA) to achieve results with a long-term return on investment, and control the effects of the current pandemic to sustain the growth and flow of foreign direct investment during the recession and economic recovery stage that is seeing mixed results around the world."
His Highness stressed that the operational system in «DAFZA» enjoys the utmost degree of effectiveness, efficiency and flexibility needed to support and protect the investment environment and the business community of the free zone and companies, by providing various investment and operational incentives, and providing technical support in various aspects, in order to continue to establish its presence among the most important and best free zones , And its position as the most distinguished and able to achieve successes and achievements.
Attracting investments
The Director General of the Dubai Airport Free Zone Authority, Dr. Mohammed Al Zarouni, said that through these results, Dubai Airport Free Zone confirms its continued success in managing and attracting foreign direct investment and supporting its growth and sustainability in the Emirate of Dubai.
He added that «DAFZA» achieved 92% of the sales target during the first half of this year, and also continued to play its role in pushing economic development in the emirate, and continuing the path of its successes, starting from its strategic location near the most mobile airports in the world, which led to leasing 28% in its most modern office complex, which was delivered during the first quarter of this year.