The UAE’s Dubai Integrated Economic Zones Authority (DIEZ) reported a 42% y-o-y increase in operating net income in 2022, according to a statement from Dubai’s media office. Total revenues grew 29% y-o-y in the same period, and the authority contributed 11% to Dubai’s non-oil foreign trade and 5% of Dubai’s GDP. Revenues from commercial licenses and government services grew 69% y-o-y and rental revenues grew 9% y-o-y. Actual figures for the year were not reported.

Driving growth: “Our exceptional results in 2022 were driven by the strategic integration of economic zones focused on enhancing growth and expansion opportunities and providing a supportive environment for the business and investment community,” Executive Chairman of DIEZ Mohammed Al Zarooni. “Today, more than 22k companies and over 41k employees are based out of DIEZ.”

Looking ahead:. The DIEZ plans on continuing to pursue strategic partnerships with “key stakeholders” across various sectors, the media office reports.

Background: The DIEZ authority, established in 2021, oversees the products and services of Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity. The authority is focused on increasing the attractiveness of Dubai as an investment hub and contributing to the growth of the emirate’s non-oil sector.

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