Dubai Biotechnology and Research Park, the world's first free zone dedicated to the life sciences industry, has attracted 21 new companies, 33 percent more than the number of the previous year, the park's management said Monday.

Founded in 2005, the park, also called DuBiotech, is a free zone where licensed firms enjoy a 50-year tax holiday, 100 percent foreign ownership and free capital convertibility. Currently it is hosting 90 biotechnology companies operating diverse sectors.

"In addition to welcoming 21 biotechnology companies to the free zone, most of them industry leaders, we also added a new segment to our portfolio with the setting up of BYK Chemicals, the park's first industrial biotech company," said Marwan Abdul Aziz, DuBiotech's director of business development.

Other industries, such as pharmaceuticals, agricultural biotech as well as medical devices and equipment, have also witnessed strong growth, he added.

DuBiotech has managed to attract global life sciences leaders such as Pfizer from the United States and fragrance producer Firmenich from Switzerland.

According to Aziz, in 2011, DuBiotech welcomed for the first time companies based in Brazil, Korea and Turkey, and garnered continued interest from life sciences companies in Germany and India.

New companies registered at DuBiotech in 2011 included Bristol Myers Squibb, National Starch and Chemical Middle East, Wokhardt and Chr. Hansen Middle East and Africa.

VietNamNet/Xinhuanet