The chairman of DIEZ states that the authority is incorporating AI and smart city solutions, strengthening its role as a vital contributor to Dubai's economic development.
Dubai’s strategic location, combined with its world-class infrastructure, business-friendly policies, and stable economy, has made it a highly attractive destination for global investors. The emirate’s tax-advantaged environment and proximity to both Eastern and Western markets provide numerous benefits.
In January, this global business and tourism hub unveiled an ambitious $8.7 trillion (Dhs32 trillion) economic plan, known as the Dubai Economic Agenda (D33). This initiative aims to strengthen the emirate’s status as a strategic economic gateway by doubling foreign trade and investment over the next decade.
With over 28 economic free zones, Dubai has undertaken reforms to enhance its economic competitiveness, GDP growth, and stability while promoting diversification.
These economic free zones have markedly contributed to growth and entrepreneurship by fostering a favorable business environment. To further bolster Dubai’s position as a global economic center and attract additional investments, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, established the Dubai Integrated Economic Zones Authority (DIEZ) in 2021. This authority consolidates and integrates the offerings of Dubai Airport Free Zone (DAFZ), Dubai Silicon Oasis (DSO), and Dubai CommerCity, a collaborative venture with Al Wasl Properties.
His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, emphasizes that these three economic free zones play a pivotal role in diversifying the economy, fostering innovation, and driving growth, in line with the D33 initiative.
“The DIEZ plays a strategic role in realizing the D33 initiative, which aims to double the size of Dubai’s economy within the next decade. DIEZ’s three integrated economic zones – Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity – are key contributors to this agenda and are essential in consolidating Dubai’s reputation among the world’s top three economic cities,” says Al Zarooni.
While DAFZ provides seamless global connectivity thanks to its strategic location next to Dubai International Airport (DXB), DSO has been vital in promoting innovation in the emirate. Meanwhile, Dubai CommerCity is positioning the city as a global hub for digital commerce, supporting the region's expanding e-commerce market.
“Since our inception in 2021, DIEZ has significantly evolved to align with the Dubai Economic Agenda. We have launched several initiatives, including Oraseya Capital, our venture capital arm that supports startups and SMEs,” explains Al Zarooni.
“Our focus has broadened to include the integration of AI and smart city solutions, enhancing operational efficiency and sustainability. These efforts have solidified DIEZ’s role as a key player in Dubai’s economic landscape, driving innovation, economic diversification, and sustainable growth,” he adds.
Dr. Mohammed Al Zarooni on DIEZ’s role in Dubai’s economic growth.
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