H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones Council (DFZ Council), has reiterated that Dubai’s free zones continue to develop their services in line with the demands of new economic opportunities, and is expecting to boost its contribution to Dubai’s GDP to $68 billion by 2030, during the 20th meeting.
Sheikh Ahmed underlined the significance of facilitating investor journey and its critical role in strengthening Dubai’s and the wider UAE’s position as a preferred investment destination.
The meeting also highlighted Dubai’s free zones’ pioneering role in enhancing diversified integrative economics and establishing the pillars of a flexible economy that achieves sustainability, accelerates growth, and transforms challenges into opportunities across their various industries and specializations.
Sheikh Ahmed praised the Invest in Dubai platform for its value as an entry point into Dubai’s free zones and a portal into the local economy. This follows the UAE Cabinet’s recent approval of the executive regulations of the Federal Decree-Law on Entry and Residence of Foreigners, aimed at strengthening the UAE’s position as an ideal destination to live, work, and invest.
The new system of entry and residence, including amendments to the Golden Residency Scheme, Green Residency Scheme, tourist visas, and other specialized visas, aims to attract and retain global talent and skilled workers to Dubai from all over the world.
The Dubai free zones model has proved its efficiency in growing existing economic industries and building up new specialized and dynamic economic industries such as green economy, circular economy, and knowledge-based economy, in areas such as advanced technology, manufacturing, and logistical services.
The Council members also discussed the possibility of achieving the Dubai Demand Side Management Strategy 2030, launched by the Dubai Supreme Council of Energy with the aim of reducing the demand for electricity and water by 30 percent by 2030. This will enhance Dubai’s position as a global model for efficient energy and water demand management and achieve the strategy of smart sustainable cities and communities for the future.