Dubai’s success is mainly
attributed to the fact the emirate continuously launches new free zones which
attract businesses and enhance growth across a wide range of sectors. Besides
offering business-friendly environments, these free zones focus on particular
sectors of business enabling corporations to expand and grow. Currently, the
emirate has established the Matajircom and Dubai Design District, two new hubs,
which revolve around e-commerce and design respectively.
Promoting Design
The emirate’s luxury, fashion and
design sectors are estimated to mark an impressive growth during 2015 as it is
anticipated that consumer consumption will reach AED 150 billion. During April
2015, Dubai launched its new design hub known as Dubai Design District (d3),
where both local talents as well as internationally known brands are found. The
d3 was especially set up to aid local talents to acquire global recognition as
well as a means for international corporations to expand within the Middle East
and discover local talents. Set up to cultivate and develop design as well as
generate profits and economic growth, the d3 is strategically found in the
middle of Dubai Mall and the DIFC, Dubai’s renowned financial hub.
The d3 was established to provide
free zone and non-free zone licences. Free zone licences offer a tax exemption
for 50 years and 100% foreign ownership. The free zone licences are granted by
the emirate’s Dubai Technology and Media Free Zone authority. In order to be granted
a non-free zone licence, the Department of Economic Department, which is the
authority that approves the issuance, requires 51% local ownership. The new d3
hub has been under construction and is anticipated it will be completed by
October 2015. Those interested in setting up within the design free and have
not yet secured adequate premises may reserve premises that will be completed
in later construction stages, allowing them to apply for a free zone or
non-free zone licence within d3.
Enhancing E-Commerce
Another sector which has marked
remarkable regional growth is the emirate’s e-commerce. It is anticipated that
the GCC E-Commerce sector will generate USD15 billion during this year. Dubai
strives to maximise its business potential with the launching of Matajircom, the
first global manmade e-commerce centre. The purpose of Matajircom is to
enhance, attract as well as simplify the setting up of companies conducting
e-commerce activities in Dubai. Matajircom is located within TechnoPark,
located near Jebel Ali Free Zone. Jebel Ali Free Zone is currently home to more
than 7500 corporations. As d3, Matajircom will also provide free zone as well
as non-free zone licences.
Matajircom was set up by EconomicZones World.
The purpose of the new hub is to attract e-commerce orientated
businesses to set up within the UAE. The hub will offer rapid company
registration, warehouse spaces as well as with agents specialising in
logistics. Even though Matajircom will be launched shortly, the free zone will
not grant licences till the start of 2016. It is anticipated that Matajircom
will grant personalized regulations in order to assist e-commerce activities.
Nonetheless, the specific date the legislation will be ready has not yet been
confirmed.
Assistance
Dubai is home to more than twenty
free zones. The two free zones aforementioned, d3 and Matajircom are amongst
the ones which are currently being set up. Dubai continuously establishes new
business opportunities for companies looking to expand so as to benefit the
emirate economically. Additionally, these ongoing developments also reflect the
confidence businesspeople have in both Dubai but also other regional
markets.
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