Jafza posts 32% increase in new companies in Q3
The Jebel Ali Free Zone (Jafza) recorded a 32% increase in the number of new companies joining the hub in Q3 of 2012.
At the end of the quarter, the number of new companies that joined the Free Zone this year stood at 347 taking the total number of firms present to 6812. 28% of the new companies were from Europe, 23% from the GCC, 22% from Asia Pacific, 10% each from Americas and the Middle East and 7% from Africa. In terms of countries the largest chunk came from the UAE followed by India, United Kingdom, Germany, China, the United States, Egypt, Canada and France.
In Q3 alone 111 new companies joined Jafza; an increase of 32% in comparison to the same period in 2011. Some of the top names that joined the Free Zone between July and September include Manuchar from Belgium, Fauchon Paris from France, Kotra from Korea, Cryogenic Industries from USA, Summit Construction Equipment and Komatsu DSO from Japan and Sinopec International from China.
In 2011 Jafza companies together generated trade worth Dh253 billion accounting for more than a quarter of Dubai’s total trade. Jafza also accounted for almost half of the Emirate’s total exports. The Free Zone contributes more than 21% to Dubai’s GDP on year-to-year basis.
Ibrahim Mohamed Al Janahi, deputy CEO of Jafza, said: “Our continued qualitative growth, despite political instability in some parts of the region, reinforces the growing importance of the greater Middle East comprising West Asia, the CIS and Africa and Jafza’s role as the gateway and the trade and logistics hub to serve the region. We are, as a facilitator, fully committed to provide the best value and facilities to global investors to capitalize on the emerging opportunities in the region.
“With huge investments on infrastructure development in the region the Greater Middle East offers long-term growth opportunities for global investors.”
More than US$4 trillion is planned to be invested in the development of economic infrastructure and public welfare projects in the region in the next 10 years. This will further boost investor interest in the region and Jafza as the regional hub.