The Dubai World Trade Center Authority (DWTCA) Free Zone released its half-year results on Monday, highlighting a notable rise in both company registrations and direct job creation within the free zone.

In the first half of 2024, DWTCA saw a 19% year-on-year increase in company registrations, reaching 2,818. Direct jobs within the free zone also grew by 5% annually, rising to 8,223 from 7,837 in H1 2023.

In addition, the number of tenants increased significantly by 21%, reaching 2,735.

Housing businesses from over 40 sectors, the DWTCA Free Zone is dedicated to providing a straightforward and efficient five-step process for company setup.

“The DWTCA Free Zone has demonstrated exceptional performance aligned with the D33 Agenda’s visionary goals. Our dedication to providing a dynamic and business-friendly environment has resulted in significant benefits for the enterprises operating within our jurisdiction,” said Abdalla Al Banna, VP of Free Zone Regulatory Operations at DWTC.

In the first half of the year, DWTCA officially expanded its free zone jurisdiction to encompass One Za’abeel, the sustainable project developed by the Investment Corporation of Dubai, Economy Middle East reports.

The inclusion of One Za’abeel expanded the rental space within the free zone and provided companies and organisations with numerous benefits offered by DWTCA. 

These include 100% foreign ownership, customs duty exemptions, dual-licensing opportunities, and a 0% corporate tax rate. 

Furthermore, businesses in One Za’abeel enjoy streamlined visa and permit processes as well as a variety of flexible office solutions.

The free zone also established a new partnership with Emaratech, a division of the Investment Corporation of Dubai, to integrate and digitise government services and systems across DWTCA. 

This collaboration aims to simplify and streamline the application and processing of visas, establishment cards, and other documentation, thereby saving time and resources for businesses operating within the Free Zone.

The free zone also formed a partnership with Dubai’s Department of Economy and Tourism to enhance access and expand opportunities for national talent within the free zone sector.