UAE sees 4.4% rise in free zone companies

Tue, 2021-02-23 17:46

DUBAI: The UAE reported a 4.4 percent year-on-year rise in the total number of companies operating across its 44 free trade zones, according to official figures released on Tuesday.

The UAE’s National Economic Register (NER) said around 60,600 were registered in the country’s free-zones as of mid-February 2021.

“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 amid the global economic slowdown triggered by [the pandemic] since the second quarter of 2020,” WAM, the UAE state news agency, said in a report.

According to the NER’s figures, the free zones account for 8 percent of the total number of companies registered in the UAE, most of which are based in Abu Dhabi and Dubai.

Earlier this month, the NER said 3,087 foreign companies had set up branches in the UAE at the end of January, while 812 Gulf Cooperation Council companies had operations in the emirates.

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