Dubai Airport Free Zone Unveils Five-Year Strategic Plan
by Lorys Charalambous, Lowtax.net, Cyprus
21 March, 2017
The Dubai Airport Freezone Authority (DAFZA) has released its five-year strategic plan setting out its vision for the Dubai free trade zone.
The "Strategic Plan 2017 – 2021" has four key elements, the first of which focuses on enabling DAFZA to assume the key role of driving national economic growth in Dubai. To achieve this, DAFZA has set itself the goal of attracting foreign direct investment from high-value established businesses in major and economically active markets.
DAFZA also intends to maximize its profits through trade diversification, joint ventures, and the provision of an array of new commercial products and services. In addition, it will foster and spread a culture of responsibility across the free trade zone.
The other key elements of the strategic plan seek to improve customer satisfaction, attract and retain high-performing and talented workers, and enhance the quality of life in Dubai.
The Dubai Airport Freezone was established in 1996. Business incentives offered include exemption from corporate tax, personal income tax, and import and export duties. Companies established in the zone may also be 100 percent foreign owned.
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