Dubai Airport Freezone Authority (Dafza) has achieved trade amounting to AED87.4 billion ($23.8 billion) during the first nine months of 2020, marking a 10 per cent contribution to Dubai’s trade and a trade surplus amounting to AED10.6 billion.

Dafza, which is celebrating its Silver Jubilee year, highlighted an increase of 7.62 per cent in sales revenues, and 64.11 per cent increase in the number of registered companies during the period, reported state news agency Wam.

During this period, confidence in the free zone’s capabilities remained strong due to Dafza’s ability to combat the economic slowdown while leading operations towards a full economic recovery. The free zone recorded an increase in the number of businesses that have commenced operations within Dafza or moved operations to the free zone, during a period of rapid changes in business and trade sectors.

Commenting on the 2020 results, Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Airport Freezone Authority (Dafza), expressed that 2020 was an extraordinary year that posed major challenges for various vital sectors. “During the end of 2020, as a response to the crisis and the need to adapt to the new norm imposed by the social distancing measures, we are committed to the directives of our wise leadership to provide an impetus to a sustainable and inclusive economic recovery,” he said.

Sheikh Ahmed said: “The results achieved by Dafza and its business community during 2020, the investors’ confidence and other various indicators give a positive outlook on the short and long term for economic recovery in the country. This is also supported by the return of the economic sectors to high production levels after overcoming the challenges, which was reinforced by several government initiatives that aimed to accelerate economic recovery and enhance movement of supply chains and global trade.”

“Dafza is currently home to more than 1,800 companies. In 2020, the free zone recorded a growth of 64.11 per cent in the number of new registered companies,” he added.

The group of electronics, electrical & ICT accounted for the largest number of the total number of companies registered in Dafza, with a rate of 28.4 per cent, 20 per cent of which were multinational companies (MNCs). This sector was the main contributor to Dafza’s trade during the first nine months of the year, with a rate of 75.8 per cent for exports and re-exports and a rate of 74.1 per cent for imports. The group witnessed strong growth during the first nine months of the year by 13 per cent in terms of imports and 2.5 per cent in terms of total trade compared to the same period in 2019.

The group of logistics and freight companies accounted for 11 per cent, 23.71 per cent of which were multinational companies (MNCs).