The Authority additionally posted its highest-ever share of Dubai’s non-oil commerce at 13.7 per cent, marking a fourth consecutive yr of progress.
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 Govt Council of Dubai, mentioned: “Dubai continues to consolidate its position as a serious buying and selling centre on the coronary heart of worldwide commerce, consistent with the strategic imaginative and prescient of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
“DIEZ’s 2024 efficiency just isn’t solely a testomony to our metropolis’s strong financial fundamentals but additionally to its skill to consistently innovate, unlock new avenues for progress and remodel challenges into alternatives.”
He added that Dubai’s free zones have “created a novel mannequin of sustainable progress that has redefined financial and buying and selling competitiveness each regionally and globally,” whereas the Financial Agenda D33 continues to speed up the emirate’s growth as a worldwide buying and selling hub.
Dubai Built-in Financial Zones Authority
DIEZ encompasses
- Airport Free Zone
- Silicon Oasis
- CommerCity
Development in 2024 was fuelled by expanded flows of products and companies, strengthened partnerships with key world markets, and superior infrastructure that bolstered provide chain effectivity.
Commerce volumes rose by 28 per cent year-on-year to 444,300 tonnes, in contrast with 346,700 tonnes in 2023.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, mentioned: “DIEZ’s outstanding efficiency in 2024, which marks a fourth consecutive yr of progress, displays Dubai’s rising stature as a worldwide financial and commerce hub and a most well-liked alternative for worldwide firms and buyers.
“This progress additionally reinforces its important position in supporting the goals of the Dubai Financial Agenda D33, consistent with the imaginative and prescient of His Highness Sheikh Mohammed bin Rashid Al Maktoum, to double the scale of Dubai’s economic system and set up it among the many world’s prime three city economies by 2033.”
Dr. Mohammed Al Zarooni, Govt Chairman of DIEZ, mentioned: “The distinctive outcomes achieved by DIEZ in 2024, alongside its complete progress and continued success throughout its three financial zones, function a powerful motivation to pursue even larger accomplishments yr after yr. We stay dedicated to advancing our journey of progress and innovation, additional strengthening Dubai’s competitiveness on the worldwide commerce map.”
Sector highlights
Commerce in equipment, electrical and electronics accounted for round 72 per cent of DIEZ’s complete commerce in 2024, rising by 17 per cent year-on-year.
The dear stones, metals, jewelry and ornaments sector recorded a 33 per cent enhance, contributing 22 per cent of general commerce. Collectively, these two sectors represented roughly 94 per cent of DIEZ’s complete commerce.
DIEZ’s robust 2024 efficiency underscores its resilience amid world challenges and its agility in responding to shifting financial situations. Superior infrastructure, integration throughout zones, and progressive options have positioned the Authority as a central driver of the emirate’s non-oil commerce and a key contributor to the nationwide economic system.