UAE: Number of Businesses Operating in Free Zones Rise 4.4 Percent

SourceAl Bawaba
SectorEconomy
CountryUAE

According to the NER's figures, businesses operating in UAE free zones account for over 8% of the total number of companies registered in the UAE by the end of first half of February 2021, most of which are based in Abu Dhabi and Dubai. (Shutterstock) There are over 44 free zones in the UAE. The total number of companies operating in the UAE free-trade zones grew by 4. 4% to around 60, 600 by end of mid-February 2021, compared to end of the same month last year, according to the UAE's National Economic Register (NER).

The growth is reflective of the successful business continuity and disaster recovery plans adopted by the UAE to lure foreign business to work across the nation amidst the global economic slowdown triggered by the Covid-19 since the second quarter of 2020, a WAM report said. According to the NER's figures, businesses operating in UAE free zones account for over 8% of the total number of companies registered in the UAE by the end of first half of February 2021, most of which are based in Abu Dhabi and Dubai. There are over 44 free zones in the UAE. They are specifically designed to draw foreign ...read more...