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Dubai Is the Largest Contributor to the Islamic Economy

Written by: Bridgewest

Dubai-the-largest-contributor-to-the-Islamic-economyDubai is not only a leader of the financial sector in the Middle East region, but it is also one of the largest cities when it comes to the global Shariah economy through its free zones. Dubai’s free trade zones have brought 55 billion USD to the Islamic economy in 2015, the UAE becoming this way the first country in the world sustaining this economy. Our company formation agents in Dubai can assist foreign investors interested in starting businesses in the free zones of the emirate.

Islamic countries contribute with 1.9 trillion USD to the global economy

Dubai Silicon Oasis is the greatest contributor from Dubai when it comes to the Shariah economy, and it is closely followed by Kuala Lumpur, Bahrain and Manama. All of Dubai’s free zones contributed with 55 billion USD to the Islamic economy, one of the most important segments of the global economy which brings 1.9 trillion USD each year and which expected to grow by an additional 117 billion USD by 2021.

The halal food industry is one of the representative sectors of the Islamic economy and it is expected to grow from the current 34 billion USD to 74 billion USD by 2021 in Dubai. The fashion industry is also predicted to double from the actual 7 billion USD by the same year. At a global level, there are 30 free zones within 18 cities supporting the activities of the Islamic economy. More than 20 of these free zones are located in Dubai.

Our Dubai company formation consultants can offer information on the emirate’s free zones.

Dubai supports startups in the digital Islamic economy

Not long ago, Dubai Silicon Oasis has enabled the Dubai Technology Entrepreneur Centre which supports startup companies in the information technology sector which is a great driver of the Islamic economy by providing Arabic content via online channels and which have also created most of the smart city projects in Dubai.

One of the most important roles of free zones in Dubai is that these offer investment possibilities to foreign entrepreneurs who seek to come in contact with the Islamic economy and who bring numerous benefits to locals. Free zones also help in creating important ties between local and foreign investors.

For assistance in starting a business in a Dubai free zone, don’t hesitate to contact us.

 

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