DWTC Authority licensing scheme sees 250% growth

The Dubai World Trade Centre Authority free zone is gearing up to attract new investment as license renewals jumped 250% in H1.

It was established in 2015 and provides business benefits such as tax exemptions and 100% foreign ownership

DXB LIVE, the live events arm of DWTC, also reported a 20% growth in the same period with 100 successful events.

Other stories in our weekly events news wrap are:

➡️ Hong Kong upgrades to become key player in aviation.

➡️ COMEXPOSIUM names new director of agricultural and construction business division.

Learn how event trends will shape up in the remaining six month of the year – download the Event Tech Forecast H2 2023 to know the impact of digital tools.

Read on for your full Week in Events roundup ⤵️

DWTC reports 250% surge in licensing renewals

The DWTC Authority has reported a 250% yearly jump in its free zone renewals in H1 2023, increasing from 254 to 892 renewals.

It launched “Intelak Incubators” providing custom accelerator and incubation programmes for startups and early-stage ventures.

The free zone – established in 2015 – is an area in the Dubai World Trade Centre complex providing benefits for companies such as tax exemptions, 100% foreign ownership and simplified business setup procedures.

DWTC Authority Free Zone, Dubai's leading driver of global competitiveness and pioneering business ecosystem, saw a significant 250% increase in license renewals in H1 2023. Read more here: https://t.co/UPa5AH3DYj pic.twitter.com/sPgRMnX8es

— DWTCAuthority (@DWTCAuthority) August 25, 2023

Abdalla Al Banna, VP of free zone regulatory operations at DWTC, said: “Our robust performance in H1 reflects our alignment with Dubai’s Economic Agenda (D33) goal of attracting foreign investment through the provision of a conducive business environment with a focus on making Dubai a global hub for future economy and innovation.

“Our competitive and well-regulated ecosystem attracts digital transformation pioneers, R&D companies, and tech innovators.

“A growing community of next-generation tech start-ups and tech-powered unicorns choose DWTCA Free Zone as their preferred dynamic base to expand their operations globally.”

Its experiential arm, DXB LIVE, registered a 20% growth in business during the first six months of 2023, compared to the same period last year.

DWTC had also hired 262 new employees to support operations in the free zone, which extends across more than two million square feet of premium office space.

Al Banna added: “We are driven by Dubai’s vision to make the city the ultimate business destination worldwide.

“Committed to sustainability and transparency, we strive to provide a nurturing environment for businesses of all sizes.

“With flexible spaces, enriched amenities, all tailored to foster innovation, we are supporting local and international efforts to create a greener future.”

Hong Kong revs up to become business aviation hub

Hong Kong has ramped up its infrastructure to establish itself as a crucial player in the world of aviation.

These upgrades include the completion of the 3rd JCtrans Global Freight Forwarders Expo and International Air Transport Association Aviation Day at AsiaWorld-Expo.

Other key industry events planned are the Asian Logistics, Maritime and Aviation Conference in November this year, IATA World Cargo Symposium 2024, Aero-Engines Asia-Pacific 2024 and Super Terminal Expo 2024.

Kenneth Wong, general manager, MICE & Cruise of the Hong Kong Tourism Board said: “We are thrilled that Hong Kong has become the destination of choice for multiple aviation and logistic events!

“The city’s status as an aviation hub with a globally connected transportation network, a future-proof Airport City development, top-notch convention venues and a gateway to the GBA makes it a strategic choice in the region to host major industry events. ”

Vivian Cheung, Chief Operating Officer, Airport Authority Hong Kong and Hong Kong Convention Ambassador said: “I am thrilled to bring significant industry events to our city, which reflects the role of Hong Kong as a leading aviation, transportation and logistics hub.

“As a member of the Hong Kong Convention Ambassador programme, I look forward to welcoming even more business events and delegates from around the world.”

COMEXPOSIUM appoints new director

The COMEXPOSIUM group has named a new director for its AgEquipment and Construction Business Unit.

Christophe Lecarpentier will head the division, which organises the SIMA, SITEVI and INTERMAT tradeshows.

His responsibilities include working on the roadmap of the upcoming editions of the three shows as well as driving vision to further the group’s business goals.

Christophe said: “My French and international experiences have brought me to work with many manufacturers, both upstream in product design and innovation, and at distribution level (product launch, promotion, network training, sales through dealership networks).

“Convinced of the pivotal role that the exhibition media plays in the promotional mix, I am looking forward to working with the entire profession, and I am thrilled to be taking up the position as director of the Ag Equipment and Construction Business Unit at Comexposium.”

Prior to joining COMEXPOSIUM, Christophe worked with JCB in different leadership roles and brings nearly 30 years of industry experience in his new role.

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