News and Media Details - Home
News and Media
Dr Mohammed Al Zarooni on DIEZ’s role in Dubai’s economic growth
Dubai’s strategic location, coupled with its world-class infrastructure, business-friendly policies, and stable economy, has made it a highly attractive destination for global investors. Its tax-advantaged environment and proximity to both Eastern and Western markets offer numerous advantages.
The global hub for business and tourism unveiled an ambitious $8.7tn (Dhs32tn) economic plan in January. Dubbed the Dubai Economic Agenda (D33), the initiative seeks to solidify the emirate’s status as a strategic economic gateway by doubling foreign trade and investment over the next decade.
Dubai, home to more than 28 economic free zones, has embarked on reforms to enhance economic competitiveness, GDP growth, and stability while promoting economic diversity.
The economic free zones have significantly contributed to growth and entrepreneurship by creating a favourable business environment. To strengthen Dubai’s position as a global economic hub and attract more investments, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, created the Dubai Integrated Economic Zones Authority (DIEZ) in 2021, consolidating and integrating the products and services of Dubai Airport Free Zone (DAFZ), Dubai Silicon Oasis (DSO), and Dubai CommerCity, a joint venture between DIEZ and Al Wasl Properties.
His excellency Dr Mohammed Al Zarooni, executive chairman of DIEZ, emphasises that the three economic free zones play a crucial role in diversifying the economy, fostering innovation, and boosting growth, which aligns with the D33 initiative.
“The DIEZ plays a strategic role in the realisation of the D33, which aims to double the size of Dubai’s economy over the next decade. DIEZ’s three integrated economic zones – Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity – are key contributors toward this agenda and play a unique role in consolidating Dubai’s position among the top three economic cities in the world,” says Al Zarooni.
While DAFZ offers seamless global connectivity, thanks to its strategic location adjacent to Dubai International Airport (DXB), DSO has been instrumental in driving innovation in the emirate as the Dubai CommerCity is positioning the city as a global hub for digital commerce and supporting the region’s growing e-commerce market.
“Since its establishment in 2021, DIEZ has significantly evolved to align with the Dubai Economic Agenda. We have launched several initiatives, including Oraseya Capital, which is our venture capital arm, to support startups and SMEs,” explains Al Zarooni.
“Our focus has expanded to include the integration of AI and smart city solutions, further enhancing operational efficiency and sustainability. These efforts have solidified DIEZ’s role as a key player in Dubai’s economic landscape, driving innovation, economic diversification, and sustainable growth.”
Historically, oil exploration and production have been the cornerstones of GCC economies. However, the region is now actively diversifying its economy and exploring new growth avenues beyond its traditional reliance on fossil fuels.
Among the GCC region’s oil-producing states, Dubai stands out as the most successful in diversifying its economy. Since the 1970s, the emirate has made significant strides in transforming itself into a thriving global hub with a promising economic future. “By fostering a business-friendly ecosystem and continuously improving our services, we ensure that Dubai remains an attractive destination for global investors, thereby boosting the emirate’s investment attractiveness,” says Al Zarooni.
Dr Mohammed Al Zarooni on DIEZ’s role in Dubai’s economic growth
DIEZ Reports Strong Growth in H1 2024, Boosting Dubai's Non-Oil Economy
DUBAI, 10th September, 2024 (WAM) – H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Integrated Economic Zones Authority (DIEZ), announced the operational and financial results of DIEZ for the first half of 2024. Driven by high occupancy rates and solid performance across all business sectors, the results reflect remarkable growth in key strategic indicators, strengthening the position of the Authority and its economic zones – the Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity – at the heart of Dubai’s commercial landscape and non-oil economy.
The results show that DIEZ achieved a growth of 18 percent in net profit, 12 percent in total revenue, and 7 percent in operating profit in the first half of 2024, as compared to the results announced at the end of 2023. These results illustrate DIEZ’s steady and sustainable growth outlook.
These figures also coincide with the growth in the number of registered companies, encompassing local, regional, and global markets, operating within the DIEZ economic zones. The total number of such companies marked a 4 percent increase compared to the end of 2023. Additionally, these companies now employ over 78,000 specialised employees, reflecting a 12 percent growth from the previous year.
H.H. Sheikh Ahmed bin Saeed Al Maktoum noted: “The results of the Dubai Integrated Economic Zones Authority’s operational performance for the first half of this year clearly demonstrate its commitment to the ongoing development of its economic zones. This aligns with Dubai’s efforts to be a trendsetter in various sectors, including the free economic zones sector, in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai.”
Sheikh Ahmed added: “These positive indicators reaffirm DIEZ’s commitment to enhancing Dubai's esteemed and expanding role as a central hub in global trade and an attractive investment destination. Our comprehensive and integrated economic model, known for its exceptional flexibility and attractive incentives, offers companies robust opportunities for establishing, developing, and sustaining their businesses. This aligns with our goal to amplify the contribution of DIEZ’s economic zones towards achieving the objectives of Dubai's Foreign Direct Investment Development Program and supporting the Dubai Economic Agenda D33, which aims to position Dubai among the top three urban economies globally.
Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said, “DIEZ’s impressive results are a natural outcome of the wise and ambitious economic policies pursued by the emirate of Dubai. The vision and guidance of our leadership has always helped us uncover promising new opportunities with an emphasis on future foresight and being the best in various vital sectors while providing abundant incentives and attractive benefits.”
DIEZ Reports Strong Growth in H1 2024, Boosting Dubai's Non-Oil Economy
DIEZ unveils its strategic HR plan
DUBAI, 30th October, 2024 (WAM) -- The Dubai Integrated Economic Zones Authority (DIEZ) has launched its strategic human resources (HR) plan for 2024-2026, marking a significant milestone in DIEZ’s journey to develop a comprehensive HR system. This system aims to create a work environment that enhances the performance of human resources and talents within DIEZ and its affiliated economic zones, thereby increasing employee loyalty and retention.
This HR strategic plan aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to advance government operations and systems and improve the quality of life, positioning Dubai among the top three cities globally in terms of living standards.
The strategic plan is built on five main pillars: investing in staff, developing an optimal work environment, increasing levels of Emiratisation, adopting the most effective and advanced systems, and leveraging human resources as business developers. This step aims to accelerate operations, support clients, enhance economic savings, and adopt modern technologies, fostering a positive, constructive, and flexible work environment that meets the demands of future jobs.
Yousuf Behzad, Chief People and Organisational Development Officer at DIEZ, said, “DIEZ is committed to adopting various plans and strategies to enhance and sustain a flexible work environment within the Authority and its affiliated economic zones. This involves identifying human resources requirements, especially in light of the increasing reliance on AI technologies, ensuring we anticipate and meet the demands of future jobs. Implementing advanced technologies such as AI is a top priority for our human resources department, as it aims to improve the quality, speed, and efficiency of government services. Additionally, this enables UAE talents to achieve their full potential in various fields through ongoing support, training programmes, and qualifications.”
“With the launch of this strategic plan, which aligns with the objectives of Dubai’s Quality of Life Strategy for 2033, approved by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of Dubai Executive Council, we aim to achieve new levels of employee satisfaction at DIEZ. This will be accomplished by adopting innovative concepts in government innovation to develop human capital and encourage both national talents and global innovators. This approach reinforces workplace and community well-being, ensures professional and personal development, and enhances the authority's and its economic zones' position among the best workplaces in the UAE, particularly in Dubai. Ultimately, we support the vision of making Dubai a global city of innovation and creativity,” Behzad added.
DIEZ is committed to increasing Emiratisation rates within the authority and its economic zones as part of its strategic priority to develop a robust human resources ecosystem. The authority aims to achieve several key objectives in this area, particularly by preparing UAE nationals for leadership and senior roles, which currently boast an Emiratisation rate of 88 percent.
DIEZ unveils its strategic HR plan