New technologies boomed the economy that act as a pillar in shaping today’s modern industries. Dubai, one of the most vibrant and multicultural cities of the world, is one of the seven emirates of the United Arab Emirates (UAE). It is known as the business hub of the Middle East. The city is situated on the southeast coast of Persian Gulf, and its beauty is a blend of natural and man-made. The city features Palm Jumeirah, world’s first man-made artificial island. According to the Arab Business Report, the GDP growth rate of Dubai is expected to increase by 3.8% in 2018 and 3.3% in 2019. Dubai free zones act as a magnet to attract investors from the world over.
Dubai serves as one of the favorite tourist destinations. Being regarded as the central hub of business, Dubai has a strong hold on different world business. Located in Dubai, DIC is an industrial hub, and being the largest industrial park in Dubai, for warehousing. Dubai industrial city is set up with an idea of expanding the industrial sector to a great extent, providing cost-efficient business centers to small and large industries. The project has been designed for cold, light, chemical and general storage. This hub also consists of amenities like commercial office spaces, retail showrooms etc. The manufacturing sectors comprise different industries such as food and beverages, machinery, logistics, transport, minerals, etc.
Companies in Dubai Industrial City
The Dubai Industrial City free zone contains around 700 organizations, 5000 workforce, and 320 plants in its field. Assembling ventures in Dubai Industrial Park have been partitioned into various segments, that have thus been separated into individual zones.
- Zone 1: Food and Beverages
- Zone 2: Transport Equipment and Parts
- Zone 3: Machinery and Equipment
- Zone 4: Mineral Products
- Zone 5: Healthcare
- Zone 6: Chemicals
Benefits of Setting Up a Business in Dubai Industrial City
A company carrying out its business activities in Dubai Industrial City can avail the following benefits:
- 100% ownership
- No tax burden
- Shareholder need not be a resident of Dubai
- Bank accounts can be opened in any currencies
- Tariff-free trade access to Gulf Cooperation Council (GCC) market
- Duty-free imports
- Fewer renewal taxes
- The freedom to hold Properties
Basically, we can say that DIC gives all the fundamental enhancements that are basic for an industry. It encourages modern development in various segments. It's a stage that shows a way to little and medium businesses and fabricates a pathway for them.