Dr Mohammed Al Zarooni, the director-general of DAFZA (Dubai Airport Freezone Authority) echoed the words of Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, when he said, “Innovation is not an option but a necessity”.
With the changing global markets, Dubai needs to heed Sheikh Mohammed’s words more than ever.
DAFZA –one of the top free zones in Dubai
Launched in 1996, DAFZA was a realization of the need for evolution by the administration of Dubai. Dubai Airport Freezone Authority, a free economic zone, is the city’s first attempt at transforming itself into an investment driven economy.
Today, it contributes to 4.7 percent of the Dubai’s GDP (gross domestic product). DAFZA is home to over 1,600 companies from across the globe. Along with the American Richard Goodman Strategic Planning Award and DAFZA has also been winning the title of the top Middle East Free Zone of the Future by fDi Magazine consistently from 2011 to 2013.
Benefits of DAFZA
Two major factors contribute to DAFZA’s attraction to investors from around the world. The primary benefit is that it offers. DAFZA also allows even to foreign businesses. Its state-of-the-art infrastructure, world-class facilities and red-tape-free processing have made it the favourite among expat investors. A dedicated logistics centre and its strategic location right next to Dubai Airport ensure easy and hassle-free delivery of cargo.
DAFZA has been a success, not only in terms of its revenue, but also for the companies it hosts. DAFZA has managed to prove itself a catalyst in the growth of numerous Fortune 1000 companies set up within its premises and has contributed to their growth by about 50 percent.
Apart from a few basic guidelines, DAFZA has no specific prejudices about the types of businesses that are allowed to set up shop at DAFZA. The free zone has businesses dealing in cosmetics to steel to IT firms to start-ups like Kobe Steel Ltd of China, Daewoo Motors of Korea, and Promod French of France, Bombardier Aviation Services of Canada and Tata Group of India.
Keeping to their commitment of easing the transition of businesses who want to set up shop in Dubai, DAFZA has ensured that the processing is easy and fast. It requires only a minimal amount of paperwork and a set fee. DAFZA also helps businesses with registration, licensing, visa processing and other operational and administrative tasks.
Plans for the future
To keep up with its growth, DAFZA has been on a course of accelerated expansion. With warehouse occupancy at 100 percent, they have added 36 new warehouses to cater to the increasing demand. The administration has added new food outlets, shops, gyms, business centres and even an all new building to park over 600 cars, over the last few years. In January of this year, DAFZA tied up with LinkedIn, giving it access to over 400 million professionals in the LinkedIn network worldwide.
Whether you’re a large corporation or an SME, there are very few locations in the world that promises returns like DAFZA.
A company formation agency can further assist you with insurance, IT services, housekeeping services, office space requirements. They have specialized packages that include rents, employment visas and even parking spaces.