Development of Free Zones in United Arab Emirates

Abstract

In their efforts to achieve economic diversification, the UAE’s federal government and the governments of the individual emirates have been actively involved in the development of different economic projects in association with both local and foreign businesses especially in free zones. Therefore, in this article I aim to discuss the general concept of free zones with a Special emphasis placed on analyzing the objectives, characteristics, and evolution of the free zones in the UAE, their state at present and what are the trends for the future. Currently, approximately 80 percent of the UAE’s non-oil exports originate from the free zones. Consequently, I believe the UAE can continue its economic plans by the adoption of an export-led growth strategy which can be achieved by developing the existing free zones within the country.

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