This month Sheikh Ahmed bin Saeed Al Maktoum opened the first special free economic zone in the field of e-commerce and trading in Dubai. This is a joint project of the authorities of the free economic zone of Dubai airport and "Asset Management Group" company. The project cost is estimated at more than 2.7 billion dirhams.
What is the main goal of the project? The main goal of this project is to promote Dubai as the extremely important platform in the field of electronic commerce. The government of Dubai is doing everything possible to further diversify the economy of the country. The UAE is extremely interested in innovations and actively implements them in various areas of industry and trade.
The main task of the project is the rapid development of the e-commerce market. E-commerce is the continually growing market segment. Such innovation of the UAE entails the development of the creative and competitive environment. Also, this will attract even more foreign investments. The result is the formation of the sustainable economy, the basis of which is innovation.
Special free trade economic zone in the field of e-commerce and trade will be a powerful incentive for increased investment activity. There will be new start-ups in the region. IT technologies and services associated with them will develop even more rapidly. According to analytical forecasts of experts, the total share of e-commerce in the retail trade in Dubai will soon be at least 10%. By the end of 2017, the income from e-commerce will be about 200 billion dirhams.
Sheikh Ahmed bin Saeed Al Maktoum is convinced that this joint venture will be the excellent incentive for the development of commercial activity in the region. E-commerce can be the additional powerful factor in the formation and development of the sustainable economy in Dubai.
The government of the UAE plans to implement the project in two stages. To begin with, large regional producers will be able to store their products in state-of-the-art warehouses. This will allow companies to send products to the regional markets.
The government of the UAE seeks to attract as much foreign investment as possible. At the same time, the authorities are guided by the highest international standards. Thus, investors will have the opportunity to gain a foothold in the region and expand their presence. Entrepreneurs, in turn, will be able to move towards e-commerce in the UAE and the whole region.
All this in aggregate will create excellent conditions for creating various start-ups. Businessmen will get the incentive to engage in increasingly complex projects. With the opening of this specialized free zone, Dubai has taken another step towards becoming the super modern city being open to all types of innovations.