DWTCA Free Zone Reports 21% Increase in Tenants and Expands Jurisdiction in H1 2024

 UAE, 20 August, 2024 : Dubai World Trade Centre Authority (DWTCA) Free Zone reported a 21% rise in tenants for the first half of 2024, reaching 2,735, up from 2,259 in H1 2023. The number of registered companies also grew by 19%, totaling 2,818 compared to 2,366 a year earlier. Direct jobs within the free zone increased by 5% to 8,223.

Abdalla Al Banna, VP of Free Zone Regulatory Operations, highlighted the zone’s performance in line with the D33 Agenda’s goals. “Our focus on innovation and a business-friendly environment has driven significant growth and opportunities,” he said.

In H1 2024, DWTCA expanded its jurisdiction to include One Za’abeel, enhancing rental space and offering benefits such as 100% foreign ownership and 0% corporate tax. The free zone also partnered with Emaratech to digitize government services and collaborated with Dubai’s Department of Economy and Tourism to support national talent development.

Home to businesses across 40 sectors, DWTCA Free Zone emphasizes a streamlined setup process and tailored services, aligning with the UAE’s Net Zero 2050 Strategic Initiative.

Source : www.zawya.com