Dubai recognizes the interest in technology and the gaming sector is continuing to rise. As a result, Dubai is contemplating if gaming should be added to the mix of free zones. The Dubai Free Zones Council are exploring the possibilities to conduct a feasibility study to determine if there is a need to set up a free zone dedicated to gaming. This study remains a hot topic and was debated at the latest meeting of the Dubai Free Zones Council.
The number of gamers globally reaches nearly 2.5 billion. Analysts predict the GCC gaming market is set for rapid expansion and estimate it could be worth $821 million by 2021, while the wider Middle East and Africa games market is projected to be $6 billion by 2021.
In 2019, Dubai hosted the region’s largest gaming festival – Insomnia Dubai and the world’s leading esports event for ladies – Girlgamer Esports Festival.
The latest meeting of the Dubai Free Zones Council (14th meeting) was conducted and chaired by Sheikh Ahmed bin Saeed Al Maktoum and the statement issued did not expand on the gaming free zone plans. However, the Dubai Free Zones Council are also re-examining progress on creating an electronic portal for all free zone entities in Dubai along with a comprehensive geo- economic map of the Emirates of Dubai. The Dubai Free Zones Council have suggested developing collaboration between the following:
A free zone is also known as free trade zone which is invented for improving international business. A free zone provides 100% ownership to expatriates and foreign investors. In the UAE, there is over 50 free zone’s that are classes as general or industry free zones. General free zones provide a wide range of business activities with options for trading, consulting and industrial licenses. There are free zones that are also industry specific such as technology, media, education and healthcare etc that provide business activities related to a certain industry with options for trading, consulting and industrial trade licenses. There also free zones that are dedicated and attached to airports and seaports.
The main providers to fulfill gaming needs and places to play include:
Overall, the UAE is set to continue to provide and create more business opportunities and look for new and innovative ways to be the next technical revolution.
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