In the first half of 2023, Dubai World Trade Centre Authority Free Zone experienced a remarkable increase of more than 250 percent in license renewals, surging from 254 to 892 renewals.
During the same period, the free zone saw 322 new businesses join its expanding global community of over 2,000 companies, marking a 32 percent year-on-year growth compared to H1 2022, when there were 244 registrations.
Dubai World Trade Centre Authority Free Zone introduced the ‘Intelak Incubators’ initiative in the first half of the year, offering specialized accelerator and incubation programs to nurture startups and early-stage ventures, according to Gulf Business.
Abdalla Al Banna, VP of Free Zone Regulatory Operations at DWTC, said: “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”.
To bolster the operations of the expansive free zone, which covers an area exceeding two million square feet of high-quality office space, the organization hired 262 fresh staff members within the initial six months of this year.
In a separate update, DXB LIVE, the experiential agency affiliated with Dubai World Trade Centre (DWTC), announced a growth of 20 percent in its business during the first half of 2023 when juxtaposed with the same period in 2022.
