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Dubai /Â WAM
Jebel Ali Free Zone (Jafza), a subsidiary of DP World, has attracted 470 new companies during 2016 with a growth rate of 7 percent over the previous five years, DP World Group Chairman and CEO Sultan Ahmed bin Sulayem told a gathering of
business leaders.
The Multaqa Jafza 2017, a gathering of consultants, agents and legal firms working to promote Jafza products and services worldwide under the banner “Building a Better Business Together”. The event was attended by Mohammed Al Muallem, Senior Vice President and Managing Director of DP World UAE Region and CEO of Jafza, as well as senior representatives from foreign embassies, legal consultants, and strategic partners.
Speaking at the event, Bin Sulayem said, “Jafza works with its partners to attract businesses looking to set up their regional base of operations in the UAE. By providing everything that a business needs in line with international standards, the Free Zone attracted 470 new companies last year. Despite the challenges facing the global economy, this translates to a combined annual growth rate of 7 percent over the five years
leading up to 2016.”
Of the 470 companies established in Jafza last year, 58 percent came from the Middle East, followed by those from the Asia-Pacific region at 21 percent, with 16 percent from Europe, 3 percent from the Americas and 2 percent from Africa.
“As part of its business strategy, Jafza has continued to attract foreign investment in key economic sectors that add value to the local economy and other related sectors, helping to drive the UAE’s s economic development forward.”
He also noted that by providing an efficient operating environment, Jafza enables companies to focus on their operations, increase their financial returns and achieve business goals.
“Jafza’s long-term strategy is to become the world’s leading provider of sustainable industrial and logistics infrastructure solutions by upgrading its infrastructure, products and services. The approach is key in establishing Jafza’s reputation as the world’s most innovative free zone,” the Senior Vice
President added.
‘Dubai can turn challenges into opportunites’
Dubai /Â WAM
The vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has turned innovative ideas into leading achievements that catapulted Dubai into greater heights, said Sulltan bin Sulayem, DP World Group Chairman and CEO and Chairman of Ports, Customs and Free Zone Corporation.
Speaking during a speech at Ideas Arabia 12th International 2017 on Wednesday, bin Sulayem noted that Dubai’s success is based on “our confidence and belief in ourselves and our potential.”
Bin Sulayem added that Dubai has carried out a number of ambitious projects, such as the development of Jebel Ali, JAFZA, and Palm Islands.
Sectors such as trade, tourism and electronic transformation have advanced noticeably.
“We started work on Jebel Ali Free Zone in 1985 without any fear or skepticism. We had feasibility studies in place and were confident of our capability of attracting international firms. The first day JAFZA was established we received 300 applications from different companies that wanted to open offices and projects in Jebel Ali. We managed to achieve year on year growth in non-oil external trade to reach a volume of more than 90 million tons” he noted.
Bin Sulayem also talked about the emirate’s experience in developing Palm Islands, which Dubai needed to increase the length of its beaches following the directives of His Highness Sheikh Mohammed.
“We started our journey with developing ports in the seventies, with a future vision of turning Dubai into a trade and investment hub in the region. In the eighties we built the free zones, including Jebel Ali Free Zone, and in the nineties we gave more attention and focus to tourism. As of the year 2000, we started developing IT and online trade systems,” he added.
“Dubai’s power in turning challenges into opportunities is evident in the way it dealt with a number of crises in the past. The emirates’ experience is a living example of how wise the leadership is in turning regional and international crises into real opportunities,” the DP World Group Chairman said.