The number of new business partners based in Dubai Biotechnology and Research Park (DuBiotech) and the Energy and Environment Park (EnPark) rose a combined 20 per cent in the year to July, underlining the Tecom Investment Free Zones’ (IFZ) popularity as a regional springboard for businesses, a statement from Tecom said.

As many as 45 new businesses registered at the two IFZs, located in Al Barsha South. The number of companies in both business parks now totals 269.

Well-known companies such as Pfizer, Amgen, PepsiCo, Bayer, ThermoFisher, and First Solar have made these IFZs their home providing an innovative community for all businesses looking to utilize the best in class infrastructure and cutting edge research and development facilities, the statement said.

The free zones support both start-ups and international firms looking for a regional base for their Middle East or global operations.

Marwan Abdulaziz, executive director of DuBiotech and EnPark, said: “New business partner growth at DuBiotech and EnPark continues to rise steadily each year, a feat that we are extremely proud of. Our business community is as active and vibrant as ever. The 45 new business partners we welcomed in the past year is a testament to our state of the art facilities and world class business communities.”

Tecom Investments announced last year an investment of Dh4.5 billion ($1.224 billion) as part of a broader Dubai National Innovation Strategy. DuBiotech and EnPark both support Dubai’s goal of becoming one of the most innovative cities in the world by providing a dynamic and vibrant community for business partners to operate in, the statement said.- TradeArabia News Service