Jafza marks significant growth during this year

DUBAI — Jebel Ali Free Zone (JAFZ), established in 1985 as the world's largest man-made port, marked significant growth this year as more than 4,500 companies are operating in the zone as compared to 3,800 companies in 2004, Khaleej Times learnt.

By Moushumi Das Chaudhury

Published: Fri 5 Aug 2005, 11:09 AM

Last updated: Thu 2 Apr 2015, 4:12 PM

Informed sources told this scribe that these firms, including over 140 Fortune Global 500 companies, belong to 100 countries. Jafza is celebrating two decades of success and focusing to be the international business hub of the Middle East.

According to a report, the Jafza success is attributed to various facilities and benefits offered by the free zone which includes 100 per cent ownership, full assistance to set up business and operate within an environment free from red tape and annoying restrictions.

Moreover, companies also get the licence that suits their needs to carry out their operation and complete exemption of taxes from customs and commercial levies, full repatriation of capital and profits. Other benefits includes no currency restrictions, no personal income taxes and no recruitment problems.

Apart from these facilities, Jafza companies can also mortgage their premises to any bank or financing company for any of their debts or obligations, the report said.

Sultan Ahmed bin Sulayem, executive chairman, Ports, Customs and Free Zone Corporation, said: “Jafza is the perfect example of the power of partnership, combining the technical and marketing expertise of our highly professional team with your business acumen. The UAE is the safest area in the world for investment and Dubai, the most successful.

The local market is upbeat and the integrated services we offer at Jafza are recognised as amongst the best in the region."

Earlier, this year in February Jafza launched a huge project worth more than Dh2 billion for developing specific industry sectors through eight different clusters in its South Zone and also plans expansion of its office complexes in addition to new warehouses and internal road networks worth Dh1 billion.

A senior official form a reputed multinational company, established in Jafza, told Khaleej Times that Jafza offers excellent infrastructure facilities with world class logistics and distribution capabilities and its strategic location makes it a global trade and transshipment centre.

"With more than 125 shipping lines servicing the Port, the 11th largest in the world, the proximity of Dubai International Airport and the extensive highway network in the country makes business more easier and profitable in the free zone," he observed.

At present, companies with global brands like Acer, ABB, Black and Decker, Nivea, L'Oreal, Xerox, Philips, Nestel, Total Lubricants, Dutco, Tata, Dabur India, Sanyo, Johnson & Johnson , Sony among others have established a presence in the free zone.

According to Dr Mohammed Al Banna, regional manager-Asia, Jafza: “Dubai being strategically located between Asia and Europe is the commercial and industrial hub of the region and the investment opportunities it offers is nowhere more exemplified than in Jafza."

The success of Jafza is also due to its partnership with Nakheel, the merger of Dubai Ports Authority (DPA), Dubai Department of Ports & Customs (DP & C) and Jafza from the Ports, Customs and Free Zone Corporation (PCFC) has helped to utilise their combined resources in the most economical way.

DPA provides Jafza clients with container handling, cold stores and other storage facilities and DP&C helps the customers as it takes care of its clearance.

The eight different clusters which is part of expansion project, will comprise of the Dubai Distribution Centre, the Pharma-Med Park, the Construction Square, the Food & Beverage Park, the Digital Valley, the Paper Park Zone, The Chemical and Plastic Field, the Fragrance Beauty and Fashion Park will provide tremendous business potential with an intention to put Dubai on the world map by producing superior products and services from Jafza South Zone.

The free zone with all its modern ventures , technology and business opportunities is determined to remain a powerful symbol that helps drive the development of Dubai, providing exciting and unlimited possibilities for industrial development.

More news from Business
Luxury vrooms again


Luxury vrooms again

This year the #NoFilterDXB witnessed a dazzling array of replica vehicles from some of Hollywood’s most classic movies and TV shows.

Business3 days ago