Dubai – Mubasher: By the end of this year, Dubai Free Zone trade is expected to rise to AED515 billion with 20,000 companies representing around 50% of the total foreign direct investment in the emirate, said Sheikh Ahmed bin Saeed Al Maktoum, DFZ Chairman, Chairman of Dubai Civil Aviation Authority and Chairman of Emirates Group
The statement came during the first meeting for the free zones council.
Additionally, the various companies operating out of the free zones provide 200,000 jobs and contribute approximately 25% of Dubai’s GDP, which is equivalent to AED100 billion, he added.
During the meeting, the members reviewed the overall objectives of the council and formed a committee to study the strategic direction of the board and determine the financial and human resources, as well as the organisational structure. Additionally, members adopted the statute of the council, determined Dubai Silicon Oasis as the location for its headquarters, and agreed to convene the next meeting in February.
