Media ININ Economy We Trust
Media in Abu Dhabi 22 July 2018 (WAM)
The number of specialized free zones established by the UAE is currently in the process of being implemented, which reflects the great achievements achieved by the State in this area.
The work of this type of free zones spread across all emirates of the country more than 11 specialties in the fields of industrial, commercial, technical, service, logistics, finance, maritime, medical, educational, information and information technology.
Free zones are considered as centers of investment and international companies, in addition to being the channels through which the State deals with the outside world and through which the capital, goods, services and employment are transferred unhindered.
According to official statistics, the number of free zones in the Emirate of Dubai is 31, while in Abu Dhabi it is 4, 3 in Ras Al Khaimah, 2 in Sharjah, 2 in Fujairah and one in Ajman and Umm Al Quwain.
The projects in these areas can be established and owned by 100% of foreigners and benefit from the facilities and services and the facilitative and encouraging procedures provided by them. It is also possible to establish partnerships between national and foreign investors.
In addition to the significant contribution made by the regions in diversifying the economic base, they have played an important role in increasing foreign direct investment flows to the country from $ 9.6 billion in 2012 to $ 23.1 billion in 2017 with an annual growth rate of 1.6%.
Exports of free zones increased from 6.4 billion dollars in 2001 to 61.4 billion dollars in 2017 with an average growth rate of 15.2 percent. Free zone imports increased from 9.2 billion dirhams in 2002 to 82.3 billion dollars in 2017 with a growth rate of 15.7 percent.
