Media ININ Economy We Trust
Media In – Dubai 6 April 2018 WAM
The Dubai Investment Forum, which opens in Dubai on Monday, highlights the vital role of free zones in stimulating capital mobility and brings together many seminars, workshops, meetings and bilateral meetings between representatives of governments and the private sector.
The eight-day event at the Dubai International Convention and Exhibition Center (DICEC) will be attended by leading decision-makers, leaders and senior government officials at the local, regional and international levels.
The value of goods and services handled by the world’s 3,500 free zones, distributed in 130 countries, is worth more than 3.5 trillion dollars a year. The latest OECD report shows that the value of annual exports of goods around the world is 15.4 trillion dollars The share of free zones is 22.6 percent.
The UAE, which has one of the world’s most free zones, gives foreign investors 100 per cent of ownership in companies registered in any of these free zones. Dubai’s free zones account for AED 433 billion of traded goods, The UAE’s foreign trade of AED 1.3 trillion in 2017.
Dr. Mohamed Al Zarouni, Chairman of the Free Zone International Organization and Director General of Dubai Airport Free Zone Authority (DAFZA), said that free zones are essential elements for the development of the economies of many countries in the world.
Noting that one of the objectives of the Organization is to promote awareness of the nature of the gains that free zones can achieve in terms of improving FDI inflows and trade, promoting cultural diversity among peoples, managing innovation, developing skills and creating more jobs and jobs as well as sustaining the global economy and enhancing the prosperity of nations.
