Dubai Free Zones
All Dubai Free Zones and UAE Free Zones Under One Independant Roof
The concept of a Dubai Free Zone or UAE Free Zone has transformed the economic scenario of the UAE in a short span of nearly 20 years, bringing about tremendous change in the industrial scene of this young nation. The pioneer in the UAE Free Zone empire is Jebel Ali Free Zone, which was started in Dubai on 9th February, 1985. This was totally a new concept to the Middle East. When the Dubai Government issued a Decree establishing the Jebel Ali Free Zone Authority (JAFZA), the announcement received little attention. In the business circle most had never heard of the Dubai Free Zone idea. Even those who were aware of the concept were doubtful whether it would work in the traditional environment of the Gulf. Nearly seventeen years have passed and the Dubai Free Zone and UAE Free Zone concept is still thriving. During the last decade hardly a year has passed without a Free Trading Zone being established in some part of the country. So far, there are 26 Free Trading Zones including Dubai Media City, Dubai Internet City, Dubai Healthcare City to name a few. Many more are in the developmental stage.
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With the number of Dubai Free Zones increasing, the impact on the UAE economy has deepened. By now, UAE Free Zones like Dubai Media City, are home to around 20,000 companies. Total investment is estimated to be more than $4000 million. The value of exports from the Free Trading Zones reached to 16.5 billion in 1998. One bank report has rightly said that 'these industrial areas could hold the key to a genuine economic transformation of the region.'
The Jebel Ali Free Zone best exemplifies the potential of these free zones. It is estimated that this single Free Trading Zone has accounted for 36% of Dubai's exports and re-exports. This being the first Free Trading Zone in the country has created the benchmark for regulations and incentives. Its rapid growth has also provided a powerful economic inspiration to the other Emirates, which have set up their own Zones to attract investment.
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The general incentives offered by the UAE Free Zones are more or less the same. All grant up to 100% foreign ownership, complete exemption of taxes from customs and commercial levies, full repatriation of capital and profits and extended leases. They also have a minimum of red tape & quick approval procedures. Thus, keeping the engine of industrial diversification rolling. Attracting foreign investment in the private sector is central to the region's overall plan to reduce its economic dependence on oil, while creating employment for its nationals. Moreover, the wide range of Free Trading Zones such as Dubai Media City, Dubai Internet City and Dubai Healthcare City, could prove to be the mechanism not only for a new impetus to diversification, but also for changing the very face of industrial activity in this region.
DUBAI FREE ZONES
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S.No | Name | Emirate | Year of Establishment
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1 | Jebel Ali Free Zone | Dubai | 1985
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2 | Dubai Airport Free Zone | Dubai | 1996
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3 | Dubai Cars & Automotive Zone | Dubai | 2000
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4 | Dubai Internet City | Dubai | 2000
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5 | Dubai Media City | Dubai | 2001
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6 | Gold and Diamond Park | Dubai | 2001
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7 | Dubai Multi Commodities Centre | Dubai | 2002
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8 | Dubai Knowledge Village | Dubai | 2003
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9 | Dubai Healthcare City | Dubai | 2003
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10 | Dubai International Financial Centre | Dubai | 2003
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11 | International Humanitarian City | Dubai | 2004
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12 | Dubai Studio City | Dubai | 2004
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13 | Dubai Flower Center | Dubai | 2004
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14 | Dubai Biotechnology and Research Park | Dubai | 2004
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15 | Dubai Outsource Zone | Dubai | 2005
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16 | International Media Production Zone | Dubai | 2005
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17 | Dubai Silicon Oasis Authority | Dubai | 2005
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18 | Dubai Techno Park | Dubai | 2007
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19 | Dubai Logistics City | Dubai | 2007
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20 | Hamriyah Free Zone | Sharjah | 1995
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21 | Sharjah Airport Intl Free Zone | Sharjah | 1995
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22 | Ajman Free Zone | Ajman | 1996
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23 | Ahmed Bin Rashed Free Zone | UAQ | 1988
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24 | Ras Al Khaimah Free Trade Zone | RAK | 2000
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25 | Rak International Authority | RAK | 2000
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26 | Fujairah Free Zone | Fujairah | 1987
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