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Koyo Bearings sets up base in DAFZ
DUBAI - The Singapore based subsidiary of Japan's Koyo Bearings recently opened a branch office in the Dubai Airport Free Zone (DAFZ). The zone adjacent to the Dubai International Airport is already home to more than 1,425 companies and continues to attract increasing inward investment into the country.
"The location of the Free Zone within the boundaries of the Dubai International Airport is a key benefit that has attracted the large number of companies to the Dubai Airport Free Zone," said Ibrahim Ahli, Director of Marketing, Dubai Airport Free Zone. "We now play an increasingly important role as the major business and financial link between East and West - with more than 1,425 international companies already having established headquarters in Dubai Airport Free Zone," he adds.
Ahli noted that Dubai Airport Free Zone is playing an important role for many overseas corporations in their international tax planning strategy, sharing the tax exemption enjoyed by companies already established in the Zone, while having the freedom offered by 100 per cent foreign ownership.
The Middle East branch of Koyo Singapore Bearing (Pte) Ltd., expects to consolidate its presence and expand the market for bearings in the Middle East. Manager of the branch, Tadaaki Fujiwara is enthusiastic about the potential of the new branch. "This is a significant step for Koyo Singapore Bearing," he says. "We have been in the Middle East market for several years. This move to the Dubai Airport Free Zone is a major step towards providing a higher level of service to our customers in the region."
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