The Dubai World Trade Centre Authority (DWTCA) Free Zone has reported a significant increase in the number of companies and jobs within its jurisdiction in the first half of 2024. The number of tenants in the DWTCA Free Zone grew by 21% year-on-year, reaching 2,735 by the end of H1 2024, up from 2,259 in the same period in 2023.
Similarly, the number of registered companies rose by 19%, with 2,818 companies registered in H1 2024, compared to 2,366 at the mid-point of 2023. Direct employment within the Free Zone also experienced a 5% increase, with 8,223 jobs in H1 2024, up from 7,837 in H1 2023.
“The DWTCA Free Zone has demonstrated exceptional performance aligned with the D33 Agenda’s visionary goals,” said Abdalla Al Banna, VP of Free Zone Regulatory Operations at DWTC. “Our dedication to providing a dynamic and business-friendly environment has resulted in significant benefits for the enterprises operating within our jurisdiction.”
In H1 2024, DWTCA expanded its jurisdiction to include One Za’abeel, a sustainable development by the Investment Corporation of Dubai. This extension increased the Free Zone’s rental space and offered companies benefits like 100% foreign ownership, customs duty exemptions, dual-licensing opportunities, and 0% Corporate Tax.
A partnership with Emaratech was also established to digitise government services, streamlining visa and documentation processes. Additionally, a collaboration with Dubai’s Department of Economy and Tourism (DET) was launched to enhance training and development opportunities for national talent within the Free Zone sector.
