The Dubai World Trade Center Authority (DWTCA) Free Zone published today its half-year results, reporting a significant increase in the number of company registrations and direct jobs created within the free zone.
During the first half of 2024, the number of companies that registered in DWTCA rose 19 percent year-on-year to 2,818. The number of direct jobs within the free zone also grew to 8,223, a 5 percent annual increase from 7,837 in H1 2023. The free zone also noted a rise in the number of tenants to 2,735, a significant 21 percent year-on-year rise.
Home to companies across more than 40 sectors, the DWTCA Free Zone is committed to ensuring that business set-up is a simple and streamlined five-step process.
“The DWTCA Free Zone has demonstrated exceptional performance aligned with the D33 Agenda’s visionary goals. Our dedication to providing a dynamic and business-friendly environment has resulted in significant benefits for the enterprises operating within our jurisdiction,” stated Abdalla Al Banna, VP of Free Zone Regulatory Operations at DWTC.
One Za’abeel expansion
During the first 6 months of 2024, DWTCA officially extended its free zone jurisdiction to include One Za’abeel, the Investment Corporation of Dubai’s sustainable project.
The addition of One Za’abeel increased the free zone’s rental space. Moreover, it granted companies and organizations within the development access to a host of advantages that DWTCA offers, including 100 percent foreign ownership, exemption from customs duties, dual-licensing opportunities, and 0 percent corporate tax. In addition, it offered companies in One Za’abeel simpler procedures for visas and permits and a wide range of flexible office solutions.
DWTCA’s system digitization
The free zone also forged a new partnership with Emaratech, part of the Investment Corporation of Dubai, to integrate and digitize government services and systems across DWTCA. This partnership aims to simplify and streamline applications and processing of visas, establishment cards, and other documentation, saving businesses operating within the Free Zone time and resources.
The free zone also partnered with Dubai’s Department of Economy and Tourism to raise access and increase opportunities for national talent within the free zone sector.
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