Announces outstanding positive results for 2020
Dubai Airport Freezone Authority (DAFZA) is celebrating its Silver Jubilee year, highlighting its success as one of the leading free zones in the UAE, following outstanding financial and operational results last year.
The free zone’s results affirm the effectiveness of its strategic initiatives and economic incentive packages that were launched to overcome the challenges caused by COVID-19.
The results are a direct reflection of the return of the economic activities and positive performance in the emirate of Dubai.
During this period, confidence in the free zone’s capabilities remained strong due to DAFZA’s ability to combat the economic slowdown while leading operations towards a full economic recovery.
The free zone recorded an increase in the number of businesses that have commenced operations within DAFZA or moved operations to the free zone, during a period of rapid changes in business and trade sectors.
Financial results in the first 9 months of 2020 in comparison to the same period in 2019 including:
Trade amounting to $24 billion
10% contribution to Dubai’s trade
A trade surplus amounting to $2.88 billion
Other notable results achieved by DAFZA during the first 9 months of 2020 include:
Increase of 7.62% in sales revenues
64.11% increase in the number of registered companies
Chairman of DAFZA, His Highness Sheikh Ahmed bin Saeed Al Maktoum said: "The results achieved by DAFZA and its business community during 2020, the investors’ confidence and other various indicators give a positive outlook on the short and long term for economic recovery in the country.
"This is also supported by the return of the economic sectors to high production levels after overcoming the challenges, which was reinforced by several government initiatives that aimed to accelerate economic recovery and enhance movement of supply chains and global trade.
“DAFZA is currently home to more than 1,800 companies. In 2020, the free zone recorded a growth of 64.11% in the number of new registered companies.”
The group of logistics and freight companies accounted for 11%, 23.71% of which were multinational companies (MNCs).
As for the nationality of companies, the Middle Eastern companies accounted for the largest percentage of the total number of companies in DAFZA by 54%, followed by European companies by 21.5%, and Asian companies by 15%.
China ranked first in terms of major trading partners during the first nine months of the year with a percentage of 25% and a value of 22 billion dirhams.
His Excellency Dr. Mohammed Al Zarooni, Director General of DAFZA said: “The many challenges posed by COVID-19 in 2020 brought to light the strength and value of DAFZA’s foundations.
“In 2021, DAFZA is committed to the government directions aimed at easing the challenges of the pandemic on the economic sectors and supporting companies towards economic recovery.
"There is also a big focus on a number of sectors that are witnessing a strong momentum during the current period such as technology, logistics, medical equipment and pharmaceuticals.”
The year 2021 will witness the launch of a set of economic initiatives and incentives within DAFZA’s plan to accelerate the economic recovery from the pandemic, which will include more than 22 strategic initiatives that will be implemented during the next two years.
In terms of customer services, DAFZA has succeeded in obtaining the ISO 10002 certificate for the quality of the complaints handling system and the ISO for quality in managing customers’ complaints and measuring customers’ satisfaction to provide world-class services.