Dubai Internet City (DIC) has won the Foreign Direct Investment magazine’s prestigious ‘Middle East Special Economic Zone of the Future’ Award for 2006-7, reinforcing its position as an emerging global ICT hub. Jamal Abdulsalam, Executive Director of Dubai Internet City received the Award at a ceremony held in Dubai.
DIC was selected after an eminent judging panel evaluated over 100 entries to discover the best free zones in the region. Dubai Internet City emerged as the panel’s top choice ahead of Dubai Airport Free Zone, Sharjah Airport International Free Zone and Jebel Ali Free Zone, which were ranked next to it.
Jamal Abdulsalam, Executive Director, Dubai Internet City said: “The title of ‘The Middle Eastern Special Economic Zone of the Future’ is a recognition of Dubai Internet City’s growing profile as a global hub for the ICT industry. Over the last six years, the largest and best ICT companies with a stake in the region have gravitated to Dubai Internet City making it a vibrant industry hub and a powerful force for technology development. The Award is also a tribute to Dubai’s strategic vision of ICT as a key driver of economic diversification.”
DIC recently touched the mark of 900 companies, making it one of the largest managed clusters of information and communications technology (ICT) companies in the world. The ICT hub of the region, which is celebrating its sixth anniversary, has grown at an average annual growth rate of 53 % in the number of its business partners since its launch in 2000.
Apart from the overall award, Dubai Internet City also won the top ranking in the Science-Hi-Tech category. DIC was ranked ahead of Dubai Silicon Oasis, Sousse Technology Park, Tunisia and Qatar Science & Technology Park.
The Middle East Special Economic Zone of the Year Awards are organised annually by the Foreign Direct Investment magazine, the premier publication for the business of globalisation, ppublished by Financial Times Business, the specialist publishing arm of the FT Group.
The FDI Magazine’s eminent judging panel used a wide range of criteria to evaluate the entries for the Awards. They included growth, infrastructure, cost-effectiveness, strength of leading investors, number of businesses, presence of high-growth industries, expansion plans, business-support facilities, tax exemptions and financial incentives.
The judging panel this year comprised of Angus Cushley, Publisher of Financial Times Business, Courtney Fingar, Editor of Foreign Direct Investment Magazine, Graham Mather, Chairman, World Free Zone Convention and Juan Torrents, President of the World Federation of Free Zones (FEMOZA). Ends