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Others include the Dubai Airport Freezone (DAFZA; the Dubai internet City; and the Dubai Media city. [4] In April 2021 Dubai CommerCity launched, a free zone dedicated to e-Commerce. [5] The International Free Zone Authority (IFZA) is one of the most cost-effective and fastest-growing free trade zone in Dubai.
The UAE has a number of free zones across Dubai, [1] Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al-Khaimah and Umm al-Quwain. Free zones may be broadly categorized as seaport free zones, airport free zones, and mainland free zones. Free-trade zone exemptions are: [2] 100% foreign ownership of the enterprise
DAFZ was established in 1996. It came into being as a part of the Dubai government's strategic plan to make Dubai an investment-driven economy. Today, it is one of the fastest-growing and pioneering free zones in the region, contributing to around 4.7 percent of Dubai's gross domestic product) It allows international investors a completely duty-free business setup and execution of services ...
TASC Outsourcing (pronounced: Task) is a staffing and managed services company of the Middle East headquartered in Dubai, United Arab Emirates. [3] TASC Outsourcing was founded in November 2007 by Mahesh Shahdadpuri in Dubai and has its operations, through its branches and network, across the Arab states of the Persian Gulf which includes the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain and Oman.
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The establishment of designated freezones in the United Arab Emirates (UAE) traces its roots to the nation's strategic vision for economic diversification.In the late 20th century, recognizing the need to reduce reliance on oil revenue, the UAE embarked on a deliberate initiative to create economic zones that would attract foreign investment, promote international trade, and foster innovation.
One of the key elements of the center is a privately held financial exchange that opened in September 2005 as Dubai International Financial Exchange (DIFX) but was rebranded as NASDAQ Dubai in 2008. The trading hours of NASDAQ Dubai are from 10:00 a.m. to 2:00 p.m. (6:00 a.m. to 10:00 a.m. GMT), from Sunday to Thursday. [10]
In 2016, Dubai Airports started working on the expansion of the Al Maktoum International Airport, from 66,107 to 145,926 sq metres. [ 2 ] In 2017, Dubai Airports started implementing two 3,600 square metres modular data center facilities that bring data availability up to 99.82% (only 95 minutes of maximum annual downtime).