The Dubai Integrated Economic Zones Hit A Record 42 Percent Increase

The Dubai Integrated Economic Zones Authority’s (DIEZ) operating profit for the year 2022 has surpassed a record of 43 percent. This has also brought an increase of 29 percent in the total revenue of DIEZ when compared to that of the year 2021.  

In addition to this leap in the overall performance, the year 2022 has also witnessed an upsurge in the rental revenue by 9 percent and the revenue from other sections like commercial licenses, government services, and other services increase by 69 percent. 

This successful growth of the Authority in 2022 points towards a promising future for DIEZ  

The Chairman of the Dubai Integrated Economic Zones Authority, Sheikh Ahmed bin Saeed Al Maktoum said that the performance index showcased by the Authority reminds me of the successful approach it has taken in providing support to investors and businesses.

The performance showcased by the Authority affirms its status as a space that attracts foreign direct investments. It also strengthens the strategic role of the authority in achieving the objectives of the Dubai Economic Agenda D33 which hopes to increase the size of its economy and to set its status as one of the top three cities in the world over the next ten years.  

This remarkable achievement of the Authority shows its dedication to creating an extraordinary business model that supports the dream of DIEZ to play a larger role in improving the economic attractiveness and competitiveness of Dubai and the UAE, said the Chairman.

He further added that they would continue to develop an innovative and excellent culture and improve their internationally-benchmarked solutions, benefits, facilities, and services in the next phase of their growth.  

In the year 2021, the Dubai Integrated Economic Zone has made a contribution of 5 percent to the GDP of Dubai and 11 percent to the non-oil foreign trade of the Emirates. 

The Executive Chairman of the DIEZ, Dr. Mohammed Al Zarooni said, this remarkable result in 2022 was made possible by strategically integrating the economic zones with an aim to boost growth and expand the opportunities and also by creating a supportive environment for the investment and business community.  

He said that they had received constant support from the leadership, which helped them realize their goals and plan toward achieving them. The creative initiatives, ambitious strategic plans, and the support of the partners in the regional, local, and international sectors have helped them to transform the business ecosystem of the DIEZ. And today the Dubai Integrated Economic Zones is a home for about 22,000 companies with more than 41,000 workers. 

These results act as the driving force that motivates them to work even harder and to continue making contributions as a significant player in expanding the trade. It further urges them to continue their efforts to support economic growth and make a visible change in the future of Dubai and the UAE.”

We aim to support the further development of the businesses by keeping up with the innovative trends and by offering an encouraging and flexible atmosphere”, he said. 

The record results of DIEZ in 2022 was achieved by the strategic partnership with numerous private and government organization. These partnerships helped in the further growth of the DIEZ with the increased flow of investments and growth witnessed in innovation, research, and development.

This growth parallels the vision of the Authority to strengthen the economic base of Dubai and the UAE, hasten the growth of commercial activities, and expand the business environment to attract more investors. 

The year 2022 has witnessed DIEZ taking part in several projects and policies that have transformed the status of DIEZ. It has signed an agreement with Wasl Asset Management Group, an initiative to improve Dubai’s Food Technology Valley project. This agreement was focused on enhancing the food production of Dubai and developing the position of Dubai as a global leader in the field by establishing it into a modern integrated city. 

DIEZ has collaborated with the du, a minor unit of the Emirates Integrated Telecommunications Company to provide the Economic Zone with innovative technology, communication skills, and competitive smart solutions for the city.

It helps the city in implementing advanced technologies and supports the growth of the city in achieving its vision by making use of innovative technologies. 

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DIEZ has collaborated with the DP World under the name of the “Tumoohi” initiative. Thus, it has provided support to young Emirati talent and has shown its commitment to providing new leaders and specialists in the field of logistics by giving proper training to young minds.

This initiative will help young minds by providing an opportunity to gain knowledge about the best practices and attain perfection through practical experience from professionals at the national level. 

DIEZ has also signed a Memorandum of Understanding with the Dubai Health Authority at the beginning of the year with an aim to provide support to the healthcare sector. It will help to attract investment opportunities by providing support to the startups in the sector. 

DIEZ will continue to excel in its performance in the future by focusing on the latest trends and developments in the economic, business, and investment fields globally. By creating a productive connection with partners and stakeholders in the important sectors it will continue to foster its growth in the coming years.