Accelerating Growth of Free Trade Zones

Executive Summary

For many countries around the world, free trade zones (FTZs) offer a good option to create jobs and improve the living standards of a large number of people. FTZs, with their tax incentives and relaxed regulations are also seen as means of economic diversification and development for capacities for manufacturing from the bottom up.

In the GCC, the UAE has over time, gained a reputation as a stalwart in the field of economic diversification through FTZs. Strategic use of FTZs has helped in Dubai’s multipronged efforts to turn into a regional and global trading hub. Various GCC countries seem to have their own model or strategy for FTZs. However, there are lessons that could be learned from the UAE’s FTZs experiences.

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