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

 

The exceptional performance, which resulted in a 9% increase in rental revenue and a 69% increase in revenue from commercial licences, government services and other services in 2022, signifies the effectiveness of DIEZ’s new integrated model and the Authority's growing contribution to the economic development of Dubai and the UAE, a WAM report said.

 

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, said: “These exceptional results, which point to a promising future for DIEZ, highlight the success of the Authority’s unique approach to supporting businesses and investors. The results reinforce DIEZ’s status as a platform for attracting foreign direct investment as well as our strategic role in achieving the goals of the Dubai Economic Agenda D33 to double the size of the emirate’s economy and consolidate its position as one of the world’s top three cities over the next decade.”

 

Exceptional business model

“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% to Dubai's GDP and 11% to the emirate's non-oil foreign trade in 2021,” Sheikh Ahmed added.

 

Dr Mohammed Al Zarooni, Executive Chairman of Dubai Integrated Economic Zones Authority (DIEZ), said: “Our exceptional results in 2022 were driven by the strategic integration of economic zones focused on enhancing growth and expansion opportunities and providing a supportive environment for the business and investment community. The unwavering support of our leadership has enabled us to realise our goals and transform DIEZ’s business ecosystem through ambitious strategic plans, innovative initiatives and fruitful local, regional, and global partnerships. Today, more than 22,000 companies and over 41,000 employees are based out of DIEZ.”

 

“These indicators encourage us to continue making major contributions to the expansion of trade and efforts to drive economic growth and diversification in Dubai and the UAE. By keeping pace with innovative trends and providing a flexible and supportive environment, we seek to further nurture the growth of businesses," he added.-- TradeArabia News Service