DAFZA targets Japanese investment with Tokyo seminars
A delegation from the Dubai Airport Freezone Authority (DAFZA) has discussed investment opportunities in Dubai with the Japanese business community during a series of seminars held recently in Japan.
These international seminars are a part of an ambitious marketing plan aimed at informing global investors about the major investment advantages available within one of the most advanced free zones in the world. They also promote the Emirate of Dubai as one of the most important business hubs in the world in line with Dubai Plan 2021.
The seminars are of significance as they complement growing trade between the UAE and Japan, which amounted to AED 43.3 billion in the first half of 2016, making the UAE Japan’s largest trading partner among GCC countries.
They were organized in cooperation with the Japan External Trade Organization (JETRO), Japan Cooperation Center for the Middle Easy (JCCME), the Tokyo Chamber of Commerce and Industry, the Osaka Chamber of Commerce and Industry and Mizuho Bank, and with the support of the UAE Embassy in Japan.
“Organising these highly informative seminars complements the success of our previous initiatives during which we built strong relationships with the Japanese business community,” says Jamal Bin Marghoob, director of marketing and corporate communications. “We are pleased to have met with elite government figures and leaders of Japan’s business world to discuss the most prominent developments advancing our cooperation as well as find ways to forge new and fruitful strategic partnerships with the public and private sectors, especially in terms of capitalising on existing and emerging trade and investment opportunities between Japan and the UAE and the MENA region in general.”
The number of Japanese companies in DAFZA grew by 19 per cent at the end of the third quarter of 2016 over the same period in 2015. Companies involved in automobiles and vehicles accounted for the largest percentage at 21 per cent, followed by electronics, electrical and telecommunications at 17 per cent; engines and machines at 14 per cent; engineering and building materials at 10 per cent; plastics, chemicals and petrochemical products at 8 per cent; and pharmaceutical, nutritional and medical equipment at 6 per cent.
Some of the world's leading Japanese names have a presence at DAFZA, including Panasonic Avionics Corporation, Toyota Tsusho Corporation, Takeda, Yamaha, Toyota, Toyo Engineering, Ricoh, Denka, NEC, Kawasaki, and Mitsubishi Hitachi Power Systems.