Monday 11 January 2010

Dubai’s free zones feel the pinch

The economic free zones that helped Dubai establish itself as a regional business hub are under pressure to reduce registration fees and other restrictions to reverse a drop-off in uptake.

Two years ago, new businesses were clamouring to set up in one of Dubai’s 16 free zones to take advantage of laws allowing 100 per cent ownership and full repatriation of profits.

Now, many of them are leaving because of the high cost of doing business there, said Shehla Anwar, a business consultant at Global Resources, which helps businesses set up in free zones.

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