The UAE’s Economic Space Zone Attracts 14 Companies Since Launch
Since the launch of the United Arab Emirates (UAE) economic space zone in 2019, fourteen companies have already set up shop there. This is a testament to how attractive this new business environment has become for businesses looking to expand their operations into the Middle East and North Africa region. In this article, we will explore what makes the UAE’s economic space zone so appealing and why it is becoming increasingly popular with international firms.
The UAE’s economic space zone was established as part of its Vision 2021 plan which seeks to diversify its economy away from oil-based activities towards knowledge-driven industries such as technology, finance, media and healthcare. It offers investors an opportunity to benefit from tax incentives while also providing access to world-class infrastructure that can help them grow their businesses quickly and efficiently.
There are several reasons why businesses find the UAE’s economic space zone so appealing:
- Tax Benefits: One of the main attractions for setting up shop in this area is that companies can take advantage of reduced corporate taxes compared with other countries in the region. Additionally, they may be exempt from certain import duties or even receive subsidies on some products or services depending on where they are located within the country.
- Accessibility: Another major drawcard is that many cities within Dubai offer direct flights to key destinations around Europe and Asia making it easy for foreign companies to travel back and forth between these two regions without having too much disruption caused by long layovers at airports along different routes. Furthermore, due to Dubai being a hub for global trade activity, goods shipped out from here tend to arrive faster than those sent through other parts of MENA (Middle East & North Africa).
- Infrastructure: Finally, one cannot overlook just how advanced Dubai’s infrastructure really is when compared with other places in MENA — especially when you consider things like reliable electricity supply throughout most areas plus high-speed internet connectivity across both residential zones as well commercial districts alike! All these factors make running any kind of business operation here very efficient indeed!
It comes as no surprise then that since launching last year, fourteen companies have already chosen to move into Dubai’s special economic freezone — attracted by all manner of benefits ranging from lower taxation rates right down through improved accessibility thanks largely due excellent transport links plus state-of-the art infrastructural support systems available throughout city limits.
