Dubai Free Zones Council Unveils Vision for Future-Ready Economy
During the 28th meeting of the Dubai Free Zones Council (DFZC), chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, members reaffirmed their commitment to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE.
These directives outline a master plan for the Dubai Free Zones Model 2030, aimed at fostering a diversified, sustainable, and resilient economy.
The Dubai Free Zones Model 2030 is pivotal in supporting the Dubai Economic Agenda D33, which seeks to double the emirate's economy by 2033 and boost annual foreign direct investment. The strategic plan will attract global businesses and investors, enhancing Dubai's competitiveness and solidifying its position among the world's top three cities.
The council reviewed an updated version of the model, structured around four pillars: economic, social, environmental, and governance. The economic pillar emphasizes a unified incentives program to streamline business operations within free zones. Social initiatives aim to create a modern lifestyle that attracts talent, while environmental goals target net-zero emissions by 2050 and a 30% clean energy contribution by 2030. Governance efforts focus on simplifying processes and enhancing service delivery.
Members also discussed the free zones’ contributions to Dubai’s GDP, emphasizing the importance of real-time data on licenses, workforce, and foreign investments. Additionally, the council underscored the need for robust license regulation to enhance business competitiveness and align with the zero-government bureaucracy program.
DFZC members praised the Emiratisation efforts of free zone authorities and proposed initiatives to foster partnerships that support local talent through career fairs and training opportunities. The council advocated recognizing companies for their commitment to employment efforts, promoting local talent within Dubai’s dynamic economy.
News Source: Dubai Media Office