DUBAI, ninth October, 2022 (WAM) — Non-oil commerce of Dubai Airport Free Zone (DAFZ), a part of the Dubai Built-in Financial Zones Authority (DIEZ), rose by greater than 36 p.c year-on-year in 2021, reinforcing Dubai’s energy as a worldwide hub for commerce and commerce. Figures shared by the DAFZ in cooperation with Dubai Customs confirmed that the free zone’s non-oil commerce exceeded AED162 billion final 12 months in contrast with AED119 billion the 12 months earlier than.

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, mentioned, “We’re happy with these distinctive outcomes that spotlight the strategic contribution of DAFZ underneath the umbrella of DIEZ. These outcomes have been pivotal in selling financial restoration in Dubai and the UAE. The free zone has absolutely recovered from the implications of the COVID-19 pandemic, with commerce returning to pre-2020 ranges. This has bolstered its mission to boost its strategic objectives and contribute to strengthening Dubai’s place as a worldwide commerce hub.”

“These unprecedented outcomes align with the nationwide financial efficiency, which recorded qualitative leaps not too long ago following the robust development of Dubai’s non-oil commerce. This has develop into a brand new base for additional progress this 12 months and sooner or later. Dubai has adopted numerous initiatives and undertaken growth programmes in its business sectors, together with a digital providers system, growing its logistics infrastructure, and attracting nationwide and worldwide competencies. These initiatives have efficiently carried out operational methods that meet the best velocity, effectivity, and competitiveness,” Sheikh Ahmed bin Saeed added.

The distinctive monetary outcomes stem from DAFZ’s strategic initiatives and incentives to assist and facilitate its group of multinational and small-to-medium companies, enabling an funding surroundings and guaranteeing seamless commerce exercise.

DAFZ contributed 10.7 p.c to Dubai’s non-oil commerce in 2021, exceeding expectations throughout all sectors. The free zone additionally recorded a commerce surplus of AED9.3 billion. This development was fuelled by the large 48 p.c year-on-year improve in imports, exceeding even the file ranges achieved in 2019 and leading to a quadrupling of exports, reaching AED1.4 billion in 2021.

Dr. Mohammed Al Zarooni, Government Chairman of DIEZ, mentioned, “These distinctive outcomes spotlight the success and effectiveness of the strategic plans developed by Dubai to boost the expansion of the non-oil commerce sector and develop its operations by following a brand new and complete organisational construction. This has resulted in establishing the built-in enterprise surroundings of DIEZ, which heralds a brand new stage of excellence and development throughout all ranges, along with providing flexibility in adapting to regional and international situations and turning challenges into actual alternatives for all events.”

“In the course of the pandemic, Dubai targeted on growing correct plans and continued to strengthen its partnerships and operations, a step that facilitated these distinctive outcomes. This 12 months serves as a brand new roadmap towards attaining the strategic objectives of the Emirate’s non-oil commerce sector and changing into a worldwide hub for worldwide commerce. That is evident by the general development of imports to the Emirate and the enabling partnerships and attraction of latest international firms which have chosen Dubai as the bottom for his or her international operations,” Al Zarooni added.

These outcomes replicate DAFZ’s distinguished function in realising the strategic imaginative and prescient of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to advertise the nationwide financial system and the funding surroundings of Dubai.

In 2021, DAFZ achieved distinctive development that contributed to surpluses in numerous sectors, significantly within the ‘equipment, gear, and home equipment’ and ‘treasured stones, metals and jewelry’ sectors. These two sectors achieved development between 36 p.c and 46 p.c and made up a median of 94 p.c of DAFZ’s total commerce.

Equipment, gear, and home equipment had been the principle contributor to DAFZ’s commerce in 2021, making up 74.6 p.c of exports with a price of AED63.9 billion, and 77.1 p.c of imports with a price of AED58.9 billion. Treasured stones, metals, and jewelry made up 19.3 p.c of exports with a price of AED16.5 billion, and 16.7 p.c of imports with a price of AED12.7 billion.

When it comes to DAFZ’s buying and selling companions, Asia accounted for 43 p.c of DAFZ’s whole commerce with a price of AED69.5 billion, adopted by the Center East and North Africa with 37 p.c and a price of AED60.7 billion, and Europe with 13 p.c and a price of AED21.6 billion.

DAFZ launched a sequence of financial stimulus packages to assist worldwide firms and SMEs in the course of the pandemic to beat the financial challenges that affected most enterprise sectors. This was according to Dubai’s strategic imaginative and prescient to supply firms and companies efficient packages and incentives to supply flexibility of their operations and assist them sort out the challenges posed by the pandemic.