Dubai free zones to introduce unified portal for investors
The Dubai Free Zones Council (DFZC) in its recently held meeting examined the developments of a comprehensive post-corona virus action plan for free zones in Dubai. The council plans to introduce a single business portal for investors as a recovery measure from the pandemic.
The combined business portal will benefit the investors to make informed decisions about the free zones suitable for their businesses. The companies operating within the free zones will be allocated with unique codes, and setting up of a unified record for the companies is also under consideration.
In order to help the companies operating in the free zones the council has decided to come up with tabled measures in each free zones including fee instalments, security deposit, guarantee refunds and cancellation of fines to maintain the liquidity of the companies.
The council has also thought about plans to set up a free zone dedicated exclusively to electronic gaming companies as an attraction for new investments in the emirate. The electronic gaming industry was struggling in the pandemic and this might help them cope with the situation.
The free zones contribute almost 33 percent to the gross domestic product (GDP) of the country so it is inevitable to provide necessary aids to the companies operating in the free zones to help them rise up from the crisis.