He stressed that facilitating the investor's journey consolidates the position of Dubai and the UAE as a preferred global destination for investments
Ahmed bin Saeed: Raising the contribution of free zones to Dubai’s GDP to 250 billion dirhams by 2030
"Invest in Dubai" was a gateway to the free zones in the emirate.
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The Dubai Free Zones Council held its 20th meeting, chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Council, who stressed the importance of facilitating the investor’s journey to consolidate the position of Dubai and the UAE as a preferred global destination for investments, noting the role of free zones in Dubai and its leadership according to its specializations in promoting a diversified integrative economy. Providing the enablers of a flexible economy that achieves sustainable stability, stimulates growth, and turns challenges into opportunities.
His Highness pointed out that "the free zones in Dubai are on the right track to raise their contribution to the emirate's GDP, to reach 250 billion dirhams by 2030, by continuing to develop their services and activating new economic opportunities throughout the current decade."
His Highness praised the qualitative options offered by the "Invest in Dubai" platform, which was launched under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and formed a gateway to the emirate's free zones, and a direct entrance to its local market, thanks to its offerings of Integrated services, facilitating business establishment, and accelerating the establishment of promising emerging projects based on innovative creative ideas, consolidating Dubai's position as the capital of quality economic and investment opportunities.
This comes as the state announced this April, the development and introduction of new qualitative facilities in the country's residency system, and they include possible options for entrepreneurs, investors, owners of start-ups and creative ideas, including golden, green, tourist and specialized residencies and extendable visitor visas, which facilitate the recruitment of talents. It maintains and maintains competencies and investments, and attracts companies and their cadres to make the state a permanent station for its regional and global operations and growth plans, and collectively contribute to supporting and developing the integrated business environment and the transparent legislative system that supports it in Dubai and the UAE.
new stages
His Highness Sheikh Ahmed bin Saeed Al Maktoum stressed that "the free zone model in Dubai has proven its efficiency in developing existing economic sectors and building new economic sectors in vital disciplines, such as the green and circular economy and the knowledge-based economy, in addition to the fields of advanced technology, manufacturing and logistics services."
His Highness explained that "the Dubai Urban Plan 2040 constitutes a general framework for achieving further development of the free zones experience, and moving them to new stages, qualifying them to play a greater role in economic, social and human development in the emirate, and enhancing its leadership in the most important global indicators of competitiveness, innovation, and ease of doing business, It contributes to achieving a qualitative developmental leap for another fifty years in the life of the Union State.”
80 new services
The Council discussed a new phase of the “Invest in Dubai” platform, which adds more than 80 new services, which it places through electronic linkage, and the provision of a single window system, within the reach of emerging project owners, investors and international companies wishing to establish regional headquarters and branches in Dubai, including: This includes tax registration services, designing work plans, evaluating economic feasibility, providing services and others.
The expected new services represent a quantum leap that keeps pace with the products of the digital economy, the applications of the Fourth Industrial Revolution, and artificial intelligence in providing many business-as-a-service systems, including accounting management systems, operational and production operations management, cloud computing, and virtual smart service centers.
Positive effect
The Council also discussed the positive economic impact of the free zones in the Emirate of Dubai, and their contribution to the emirate's GDP, noting that the free zones in Dubai are on the right track, to raise their contribution to the emirate's GDP, by continuing to develop their services and activating the opportunities of the new economy, and called for action A comprehensive study, in coordination with Dubai Digital, to assess the economic impact of the contributions of free zones in Dubai.
The study works to provide accurate data and data that enable existing and new investors to make sound investment decisions based on information, and support the sustainability of the qualitative contribution of free zones to the economy of the emirate and the country.
The Council listened to the work of the Energy Committee, whose training programs, awareness workshops and field visits to various free zones are based on international standards and international best practices to achieve the goals of rationalizing energy demand, achieving sustainability, and smart use of water and electricity resources through rationalizing consumption, and rehabilitating green buildings. And the adoption of energy-saving lighting solutions, which will reflect positively on achieving sustainable economic growth, and achieve the objectives of the Dubai Energy Strategy.
The Council discussed the possibilities of achieving the Energy Demand Management Strategy 2030, launched by the Dubai Supreme Council of Energy, which aims to reduce demand for electricity and water by 30% by the end of the current decade, thus enhancing Dubai’s position as a global model for efficient energy and water demand management, and achieving the strategy of cities and communities. Smart sustainable for the future.
In addition, the council discussed, within its agenda, the opportunities for companies to move between the different free zones, and the facilities required to facilitate this, and the council recommended facilitating procedures and setting up a mechanism for standardizing fees.
Ahmed bin Said:
"The Dubai free zone model has proven its efficiency in developing existing economic sectors and building new sectors, such as the green and circular economy and the knowledge-based economy."
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