The DubaiFree Zone Council held its first meeting. Dubai Free Zone Council is a group
that manages and rules all the free zones in Dubai.
Dubai is home
to 22 free zones, which specialize and engage in a variety of industries. Based
on state data, Dubai is home to approximately 20000 companies and about Dh515
billion of trade operations. The emirate has set up free zones that engage in
education, e-commerce as well as healthcare with the intention to develop and
specialize in these economic fields.
In 1985,
Dubai launched Jebel Ali Free Zone, which is currently the emirate’s
largest-sized free zone. Approximately 80% of Jebel Ali Free Zone’s land is
occupied while it is also provides 7% of all employment in Dubai. During 2015,
Jebel Ali Free Zone registered 650 additional companies.
Free zones
allow foreign ownership restrictions as well as federal hiring limitations.
Based on state data, free zones are accountable to approximately 25% of the
emirate’s GDP.
No comments:
Post a Comment