DIEZ contributed 5 per cent to Dubai’s GDP and 11 per cent to the emirate’s non-oil foreign trade in 2021. Image Credit: Dubai Media Office

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

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

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ: “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”

“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 5 per cent to Dubai’s GDP and 11 per cent to the emirate’s non-oil foreign trade in 2021,” Sheikh Ahmed added.

Dr. Mohammed Al Zarooni, Executive Chairman of 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. 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.

Strategic partnerships

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.

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 telecom company du to provide the economic zones supervised by DIEZ with advanced technology and communication capabilities and competitive smart city solutions.

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 exceptional investment opportunities in the healthcare sector and support the establishment and growth of startups.