Free-zones hub DIEZ records strong 2022 performance

The Dubai Integrated Economic Zones Authority (DIEZ) has posted a 42 per cent increase in its operating profit in 2022, while total revenue increased by 29 per cent, compared to 2021.

The performance resulted in a 9 per cent increase in rental revenue and a 69 per cent increase in revenue from commercial licenses, government services and other services in 2022.

Strategic partnerships with several government and private entities in 2022 further contributed to DIEZ’s record results as they increased the flow of investments and the growth of research, development and innovation, falling in line with the Authority’s vision to help strengthen Dubai and the UAE’s economic base, accelerate the growth of commercial activities and improve the attractiveness of the business environment.

Key agreements signed by DIEZ in 2022 include the one with wasl Asset Management Group to develop the Food Technology Valley project in Dubai, which aims to establish a modern integrated city to enhance food production and consolidate Dubai's position as a global leader in this field.

DIEZ also continues to cooperate with du, a subsidiary of the Emirates Integrated Telecommunications Company, to provide the economic zones supervised by DIEZ with advanced technology and communication capabilities and competitive smart city solutions. The cooperation supports Dubai's vision to accelerate the adoption of advanced technologies and foster innovation-driven growth.

DIEZ also affirmed its continued support for young Emirati talent and its commitment to developing a new generation of leaders and specialists in the field of logistics through its cooperation with DP World within the framework of the Tumoohi initiative. The initiative offers national talent with professional and practical experience and the opportunity to learn about global best practices and standards.

Earlier this year, DIEZ signed a Memorandum of Understanding with the Dubai Health Authority (DHA) to offer investment opportunities in the healthcare sector and support the establishment and growth of start-ups.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Integrated Economic Zones Authority (DIEZ), said "the strong performance, which reflects our commitment to delivering an exceptional business model, gives a strong boost to DIEZ’s aspiration to be an even bigger player in enhancing Dubai and the UAE’s competitiveness and economic attractiveness. Over the next phase of growth, we will continue fostering a culture of innovation and excellence and enhancing our globally-benchmarked solutions, facilities, benefits, and services. DIEZ contributed five percent to Dubai's GDP and 11 per cent to the emirate's non-oil foreign trade in 2021."

.@diezaofficial records a 42% increase in its operating profit in 2022, while total revenue increased by 29%, compared to 2021. 9% increase in rental revenue and a 69% increase in revenue from commercial licenses, government services, and other services in 2022. pic.twitter.com/MfQgwDhIuF

— Dubai Media Office (@DXBMediaOffice) April 9, 2023