The Dubai Integrated Economic Zones Authority (DIEZ) achieved outstanding trade results in 2023, marking a significant contribution to Dubai’s economic growth. The total trade value across its economic zones, including Dubai Airport Free Zone, Dubai Silicon Oasis, and Dubai CommerCity, reached an impressive AED 282 billion. This represents a remarkable 33% increase compared to 2022, underscoring DIEZ’s pivotal role in driving Dubai’s non-oil trade.
Significant Contributions to Non-Oil Trade
DIEZ’s economic zones played a crucial role in Dubai’s non-oil trade, contributing 13.5% in 2023, up from 11.4% in the previous year. The authority’s imports saw a significant 48% surge, reaching AED 157.6 billion, with the increase surpassing AED 51 billion for the second consecutive year. In a historic milestone, DIEZ’s exports exceeded AED 1 billion for the first time, soaring to AED 7.8 billion—an impressive seven-fold increase from 2022. Additionally, the total re-exports reached AED 116.1 billion, further solidifying DIEZ’s role in global trade.
Strategic Growth and Milestones
The leadership at DIEZ emphasized the strategic steps taken to strengthen the authority’s contribution to Dubai’s trade and economic growth. The results achieved in 2023 reflect Dubai’s growing status as a global hub for companies and investors. The Emirate’s advanced commercial, industrial, and service infrastructure positions it as a key player in the global trade system, both regionally and internationally.
DIEZ’s integrated approach continues to support Dubai’s strategic economic goals, positively impacting all sectors and enhancing the city’s competitiveness and attractiveness as an investment destination.
Commitment to Sustainable Growth
DIEZ’s leadership highlighted the exceptional results achieved in 2023, which were driven by a comprehensive strategy focused on growth, development, and innovation across all its economic zones. The authority remains committed to launching competitive initiatives and projects, strengthening partnerships, and offering unparalleled benefits and services to businesses. This approach aligns with Dubai’s ambitious aspirations and strategic priorities for the coming years.
The authority’s new strategy aims to further enhance Dubai’s position as a leading regional and global investment destination. By continuously improving service quality and efficiency, DIEZ is working towards building a sustainable economy based on knowledge and innovation, reinforcing Dubai’s status as a major global trade hub.
Strong Strategic Partnerships
In 2023, DIEZ’s strategic partnerships played a key role in its success. China emerged as the top partner, with total trade amounting to AED 89.9 billion, reflecting a growth rate of 32.8% compared to 2022. Other notable partners included India, Iraq, Vietnam, the United States, and Turkey, each contributing significantly to DIEZ’s trade growth.
Expanding Economic Influence
DIEZ also saw a 15.3% increase in the number of companies registered under its umbrella in 2023, with the total number of employees exceeding 70,000. The authority recorded a 64.6% increase in operating profits and an 8.1% increase in total revenues compared to the previous year. Net profits grew by 5.1%, while earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 49.2%.
Looking ahead, DIEZ is focused on further increasing its contribution to Dubai’s economy through a strategy aimed at empowering businesses, enriching economic life, and building a sustainable economy. The authority’s integrated system, supported by world-class infrastructure, modern living options, and advanced facilities, continues to enhance Dubai’s attractiveness as a major investment hub in the region.
Reference: Emirates 24/7
