Dubai Silicon Oasis Named Middle East Free Zone of the Year for Innovation Zones

Photo : Dubai government media office

Dubai Silicon Oasis (DSO), a leading special economic zone for knowledge and innovation and part of the Dubai Integrated Economic Zones Authority (DIEZ), has garnered significant recognition in the Financial Times' fDi Magazine Global Free Zones of the Year Awards for 2024. DSO received four prestigious accolades, including the title of *Middle East Free Zone of the Year for Innovation Zones*. This recognition underscores DSO's consistent dedication to fostering innovation, technology, and the digital economy.

Additionally, DSO was voted *Highly Commended* in the Global category for Innovation Zones, securing a place as the seventh-ranked Free Zone in the Top 10 Global Free Zones of the Year 2024. The free zone also earned an honourable mention for *Digital Innovation*, further cementing its reputation as a leader in driving future-focused industries and bringing its total number of awards to four.

The award for the *Middle East Free Zone of the Year for Innovation Zones* highlights DSO’s outstanding performance throughout 2024, as well as its tireless efforts to nurture and support the success of its ecosystem and business community. This recognition reflects DSO’s critical role in shaping the future of business, technology, and science, both regionally and globally.

Speaking about the achievement, Dr. Juma Al Matrooshi, Director General of DSO, remarked: “Dubai Silicon Oasis is one of the five urban centres identified under the Dubai 2040 Urban Master Plan, focused on science, technology, and knowledge to spearhead innovation and the growth of the digital economy. The recognition by fDi’s Global Free Zones of the Year Awards 2024 acknowledges the strategic importance of DSO’s role in reinforcing Dubai’s position as a global destination for business and innovation. We are committed to building an innovation-based ecosystem that attracts companies of all sizes and industries. Our infrastructure and business environment have been instrumental in this success.”

Chris Knight, Managing Director of fDi Intelligence, also commended DSO's achievement, stating: “I extend my congratulations to Dubai Silicon Oasis for maintaining its presence in the global leaderboard and being recognized as a top-ranked Free Zone and regional leader in Innovation Zones. This recognition is a result of DSO’s unparalleled strategy, which is deeply rooted in knowledge and innovation. The zone has demonstrated an unwavering commitment to fostering cutting-edge innovation in industries of the future, supported by collaborations with global institutions such as MIT, Start2 Group, and Dubai Future Foundation. This achievement is well-deserved.”

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UAE free zones performed notably in the fDi rankings, securing six spots in the Top 10 Global Free Zones of the Year 2024. The competition saw over sixty free zones from around the world evaluated based on a variety of multidisciplinary criteria. The judging panel comprised five external experts and one representative from fDi, ensuring a thorough and balanced assessment. This year’s awards were adjusted to account for the growing specialization of different free zones, providing a more nuanced understanding of their achievements. The global top 10 ranking serves as a benchmark for excellence across four core categories: Innovation, Digital Transformation, Collaboration, and Sustainability.

DSO’s recognition in the global rankings and its significant impact on the regional business landscape reaffirm its strategic role in bolstering Dubai’s position as a hub for technological advancements and future industries. Through a robust and supportive environment, DSO continues to drive economic growth, innovation, and the digital transformation of industries, further solidifying its place among the world’s leading free zones.