Business News
Dubai Airport Free Zone minimises COVID-19 impact in first-half 2020
Dubai: China and India accounted for the highest volumes from Dubai Airport Free Zone Authority in the first six months of 2020, at Dh7.7 billion and Dh6.1 billion, respectively. These made up 21 and 16.6 per cent of DAFZA’s overall volumes during this period.
Switzerland was placed third with a 14 per cent share at Dh5.1 billion. Overall, the free zone attained a 54 per cent year-on-year increase in export volumes and came about despite the COVID-19 pandemic being in force during most of this period.
“The results highlight DAFZA’s strategic agility and ability to adapt to secure long-term returns on investment,” said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAFZA, in a statement. “The free zone’s capability to control the impact of the current pandemic has led DAFZA to sustain growth and flow of foreign direct investment during the recession and economic recovery stage.”
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Interestingly, there was a 19 per cent increase in the number of registered companies from a year ago.
According to Dr. Mohammed Al Zarooni, Director-General, “During the first-half of the year, DAFZA achieved 92 per cent of its sales targets and played a critical role in stimulating economic activity in the country.
“DAFZA was successful in developing and implementing suitable mechanisms. This helped ensure business continuity without negative effects on trade and customer businesses. We are approaching a positive stage, which will see growth across many levels as we start to move past the challenges we have faced.”