EZDubai, the new 920,000 square meter trade zone, was launched earlier this year. It is located in the south of the emirate near industrial and residential developments. It is also home to Dubai’s second airport, Al Maktoum International. This e-commerce zone aims to attract e-commerce, logistics and other related industries in the country. It also aims to give opportunities to allow foreign firms to become a free zone company.
The Announcement
EZDubai announced recently that this trade zone continues to draw in global e-commerce companies that seek to provide pioneering services to the area. These free zones, also known as UAE’s free trade zones, are basically economic areas where trading of goods and services are usually at custom rates and preferential tax.
These zones were rolled out to encourage and promote international business in the area. These include offering foreign firms a 100% ownership of their businesses. At present, there are 45 free zone companies across the UAE.
The Prestigious Free Zone Company
This e-commerce zone continues to draw in international trading companies that seek to provide pioneering services to the area. The Triboo International Luxury Group (ILG) is the newest free zone company to be added to the list. Their company offers digital marketing and e-commerce management services.
The Triboo ILG just recently formed a joint venture. Triboo is an international group active in the e-commerce and digital advertising sector. It is also listed on the MTA market of the Italian Stock Exchange. Their company provides e-commerce solution and is located in Italy. ILG, on the other hand, is one of the world’s leading companies in the field of licensed watches, accessories, and eyewear.
They are the major distributor of these goods in both the Middle East and Africa. The firm has two goals at hand. First, it aims to provide leading e-commerce management solutions. Second, it aims to supply the e-commerce market’s luxury sector.
The Warm Welcome
EZDubai warmly welcomed this new progress as the joining of Triboo ILG continues to boost economic activity in the region. It also helps in promoting diverse businesses around the area. This increases the opportunities for the region as an international e-commerce hub.
This development effort is aligned with the recently launched Dubai E-Commerce Strategy, which was designed by Crown Prince of Dubai and Chairman of the Dubai Executive Council, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.
This strategy aims to position the emirate as one of the leading international logistics and e-commerce market in the country. It also aims to become a strategic center and increase its gross domestic product (GDP) to AED12 billion by 2023.
The Projection
Triboo ILG is anticipated to increase the market value of the businesses in the sector serving the emirate. They are also expected to leverage their expertise in the field of digital transformation; as well as digital solutions, e-commerce management services, along with its network in the luxury sector.
Dubai South’s Logistics District’s CEO, Mohsen Ahmad said that the new company joins the increasing portfolio of firms that supports the growth in the UAE’s e-commerce sector along with its region. He further said that the EXDubai’s advanced infrastructure and being the ideal business environment, Triboo ILG can easily expand its network, not only locally and regionally, but globally as well.
Conclusion
EZDubai has swiftly progressed as an e-commerce group since its launch earlier this year where e-commerce brands like Amazon and Namshi were present. The free zone company continually expands its offerings to address the needs of various market sectors such as luxury retail searching for growth opportunities.
Triboo ILG offers a wide range of e-commerce and digital services: digital and social media marketing, end-to-end e-commerce management, media and content production, real-time analytics, client management, customer care, and CRM integration. The firm also provides warehousing support and logistics.
