Jafza posts 17% jump in new companies in 2014
Jebel Ali Free Zone (Jafza), the flagship free zone of Dubai and the leading trade and logistics hub for the wider Middle East region, has seen an increase of 17% in the number of new companies joining last year compared with 2013.
A total of 679 new companies joined the free zone in the year.
Jafza also posted a 10% surge in its revenues for the year, ending 31 December 2014. The operating profit of the company rose by more than 13% to AED 1.18 billion during the year.
HE Salma Hareb, CEO of Jafza and Economic Zones World, said: “Jafza’s impressive growth in 2014 can be attributed to its focus on attracting quality investments into the Free Zone in key sectors, prudent use of resources and achieving greater operational efficiency for itself and also for Jafza based companies by introducing new innovative products and initiatives.
“By attracting a significant number of large multinationals and prominent SME’s Jafza has once again cemented its position as the trade and logistics hub for the wider Middle East region that spans from West Asia to Indian subcontinent, Africa and the CIS. Jafza’s remarkable success in attracting quality foreign direct investment has also proved the efficacy of Jafza’s customer centric thinking and its commitment to providing customers seamless operating environment in order to enable them to achieve their strategic goals as efficiently as possible. Jafza continues to play the role of a dynamic growth catalyzer and an efficient driver of economic development of the country and the region.”
Jafza contributed more than 20% to Dubai’s GDP in 2013 and sustained more than 200,000 jobs in Dubai in 2014.
The free zone companies account for almost half of Dubai’s total non-oil exports and a quarter of the Emirates’ total non-oil trade.
In 2014 Jafza companies are estimated to have generated trade worth AED 370 billion and Jafza accounts for more than 75% of the total trade generated by all the free zones together in Dubai.
Asia Pacific continued to dominate the Jafza’s new investor profile in 2014 with 29% of the new companies hailing from this region. The Americas and Europe together accounted for 27% of the new investors in Jafza.
In terms of individual countries 14% of the new companies came from India, 6% from China and 8% from the US and UK together.
Jafza won Logistics Hub of the Year at last month's Supply Chain & Transport Awards (SCATAs), held in Dubai and organised by ITP Publishing.