Dubai Airport Freezone (DAFZ) recorded remarkable growth rates in 2009 compared to the previous year, with revenues rising by 30 per cent, said a top official.

“The Freezone’s contribution to GDP, for Dubai has exceeded 2.2 per cent in 2007 assuring the importance of free zones to attract foreign investment and boost the local economy,” stated Sheikh Ahmed Bin Saeed Al Maktoum, chairman of DAFZ.

Shiekh Ahmed also said that the “Freezone results in 2009 gives a positive indication about the emirate's ability to achieve good results during the coming period and also indicates increasing willingness of foreign firms to operate from Dubai.”

“It is no doubt that the global financial crisis has affected the world economic activities, but free zones around the world and in particular, the Dubai Airport Freezone has benefited a great deal from these exceptional circumstances and turned them into positive opportunities opening its doors to foreign companies seeking to expand their markets to distribute their products in the Middle East and beyond.”

He added that the Freezone provides many advantages and incentives that meet the needs of foreign companies.

Sheikh Ahmed said that the Freezone is expanding its capacity due to increasing demand. “Expansion plans in 2010, which is to provide extra office spaces, is on track. The project, West Wing No. 7 is near completion, and it will be ready for tenants to move in by the first quarter of next year.”

He said that the Dubai Airport Freezone has been able to achieve the objectives of its establishment as it attracted many global companies in 2009, bringing the number of registered companies in the Freezone to 1490.-TradeArabia News Service