Jafza's machinery sector adds Dh40 billion to trade in 2015

dubai - This accounted for 12 per cent of the total trade value in the free zone

The machinery and equipment sector in Jafza accomplished trade worth over Dh40 billion in 2015, said Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World and Chairman of Ports, Customs and Free Zone Corporation. This accounted for 12 per cent of the total trade value in Jafza.

He was speaking at a forum organised by the Jebel Ali Free Zone (Jafza) for the machinery and equipment sector.

Bin Sulayem said: "The UAE and other GCC nations have initiated a number of infrastructure, logistics and residential and commercial projects, resulting in a continued demand for machinery and equipment. This surge in investment has also encouraged new companies to enter this market. In Jafza, there are 730 companies from 61 countries functioning in this sector, of which companies from the Middle East lead with 36 per cent, Europe 28 per cent and Asia Pacific 21 per cent."

Bin Sulayem stressed that the Ports, Customs and Free Zone Corporation constantly upgrades facilities to provide swift and efficient trade support to companies operating from the free zone.

He added: "The free zone is facilitating companies to increase their revenue and achieve profits and attract more foreign investment to the UAE and Dubai."

The machinery and equipment sector occupies over 3.1 million square metres in Jafza, with over 29,000 employees, almost 21 per cent of the total workforce in Jafza.

Speaking at the forum, Ibrahim Mohamed Aljanahi, deputy CEO and chief commercial officer at Jafza, stressed on the need for continuous innovation and development in this sector to supplement the market with technologically advanced, energy-efficient and environment-friendly equipment.

Aljanahi said the Dubai Industrial Strategy has identified the machinery and equipment sector as one of the key sectors of focus due to its significant contribution to Dubai's GDP. Under the strategy, this sector will be allocated additional incentives in Dubai.

The forum is a platform for customers to discuss trends in the sector and its future course of direction and was attended by senior Jafza management and government partner entities, including Dubai Customs, Dubai Chambers, Dubai Exports, DP World, Trakhees, World Security and Dubai Trade. Customers also addressed their concerns to the management about matters related to operations in the free zone and put forth their suggestions to pertinent issues.

Jafza officials gave a presentation to customers on some of the important initiatives undertaken by the Free Zone, especially infrastructure upgrades and construction of additional facilities and warehouses to fulfill the growing demand from new and existing customers who were expanding their current facilities.

Dewa also presented a presentation about their green initiatives and their efforts at sustainable water and power conservation methods. The company invited customers attending the Forum to participate in Wetex 2016 (Water, Energy, Technology and Environment Exhibition) that will be held in Dubai from October 4 to 6.

- business@khaleejtimes.com