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Jafza sees over 21% growth in new firms in first half [Gulf News (United Arab Emirates)]
[September 21, 2014]

Jafza sees over 21% growth in new firms in first half [Gulf News (United Arab Emirates)]


(Gulf News (United Arab Emirates) Via Acquire Media NewsEdge) Dubai: Jebel Ali Free Zone (Jafza) said on Sunday that it had recorded growth in excess of 21 per cent in the number of new companies registered in the first half of the year compared to the same period in 2013.



The free zone saw 363 new multinational companies, with a few of those Global Fortune 500 companies, the company said in a statement. It added that more than 50 per cent of the new companies come from Asia Pacific, including India and China, while 10 per cent are from the Americas and the UK.

"The large number of high profile multinationals that we have attracted in the first half reinforces Jafza's invincible status as the gateway to the Middle East and a key driver to attracting foreign direct investment into Dubai and the country," said Ebrahim Mohammad Al Janahi, deputy CEO of Jafza and chief commercial officer of Economic Zones World, the parent company of Jafza.


"Jafza accounts for almost 40 per cent of FDI [foreign direct investment] into the emirate and 20 per cent into the UAE. The leading sectors that attracted new companies into the free zone include machinery and equipment, IT & electronics, building material and foodstuffs." The new companies include China National Petroleum Corporation, Novartis, Borosil, Majal, Imex Shipping, AAA Freight & Logistics, TRI Star Transport and Technicorp, among others The free zone accounts for more than a half of Dubai's exports and a quarter of its total non-oil trade. It contributes to more than 21 per cent to Dubai's dross domestic product (GDP), according to the statement, which quoted a PwC report.

Jafza is home to 7,500 companies. Of those 17 per cent are in the IT and electronics sector, 15 per cent in construction material, 12 per cent in chemical and petroleum products, 12 per cent in machinery & equipment, 10 per cent in food and health care, 9 per cent in the automotive industry and 5 per cent in the logistics sector.

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