Dubai World Trade Centre Authority (DWTCA) Free Zone said it added 322 new companies to its growing international community of 2,000-plus companies, recording 32 per cent year-on-year growth against H1 2022.

It saw licence renewals surge by over 250 per cent in the first half of 2023, rising from 254 to 892 renewals.

To support the free zone operation, which extends across more than two million square feet of premium office space, it recruited 262 new employees in the first six months of 2023.

“Our robust performance in H1 reflects our alignment with Dubai’s Economic Agenda (D33) goal of attracting foreign investment through the provision of a conducive business environment with a focus on making Dubai a global hub for future economy and innovation. Our competitive and well-regulated ecosystem attracts digital transformation pioneers, R&D companies, and tech innovators. A growing community of next-generation tech start-ups and tech-powered unicorns choose DWTCA Free Zone as their preferred dynamic base to expand their operations globally,” said Abdalla Al Banna, vice-president of Free Zone Regulatory Operations at DWTC.

In addition to the 322 new licences issued, the free zone also affirmed its position as a preferred location for both large tenants – including Fortune 500 companies - and SMEs.

“We are driven by Dubai's vision to make the city the ultimate business destination worldwide. Committed to sustainability and transparency, we strive to provide a nurturing environment for businesses of all sizes. We look forward to welcoming new industry innovators and blue-chip names in the second half of 2023,” added Al Banna.

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