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DUBAI / WAM
Jebel Ali Free Zone Authority (Jafza) attracted more than 55 new food and beverage companies last year from 20 countries around the world.
Sultan Ahmed bin Sulayem, Executive Director of DP World Group, Chairman of Ports, Customs and Free Zone Corporation in Dubai, said that Jafza strengthens the strategic location of the UAE in general and Dubai in particular on the map of global investment in a manner that supports smooth transition to the post-oil era.
He pointed out that Jafza seeks to attract more foreign direct investment in this vital sector, thanks to its strategic location, and potential commercial and distribution capabilities as well as business opportunities offered by the Middle East region.
Ibrahim Mohamed Aljanahi, Deputy CEO and Chief Commercial Officer of Jafza, said that rapid population growth and the rise in total per capita income is a key catalyst in driving growth in the food and beverage markets to import more of these commodities to cover the needs of the region’s markets.
Business Monitor International magazine predicted that the food industry in the UAE would record a growth rate of 7.7 percent until the year 2019. It also expects the growth of per capita of food consumption rate in the UAE by 5.9 percent. Meanwhile, the retail food sales will grow by 10.3 percent until 2019.
Jafza is home to 480 companies operating in the food and beverage sector from 61 countries around the world.