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German companies comprise 21 per cent of European companies operating in the Freezone
· Concerted efforts to enhance bilateral trade to support UAE's 'post-oil economy'
· Germany tops European investments in DAFZA, engineering and building materials sector first with 17%
· Successful participation in major international exhibitions in Germany to attract foreign investments and support UAE's economic growth
UAE – The Dubai Airport FreeZone Authority (DAFZA) has confirmed its intention to explore new opportunities for enhancing economic, commercial and investment ties with Germany investors. This falls under an ambitious marketing plan aimed at introducing the competitive advantages of the Freezone to the global business community and attracting direct foreign investments to further push national economic development forward and support Dubai Plan 2021 which seeks to make Dubai a major center within the global economy. This announcement comes in line with the growing economic and investment role of Germany within DAFZA; German companies currently top investments coming from Europe to the Freezone, accounting for 11 per cent of DAFZA’s rented offices and leased industrial areas.
Official statistics reveal that German enterprises constitute 21 per cent of the total number of European companies operating in DAFZA. They invest primarily in engineering and building materials at 17 per cent, followed by electronics, electrical and telecommunications at 15 per cent, and aerospace, aviation and related services at 13 per cent. Engines and machines sector presents 11 per cent of German companies investments in DAFZA, logistics and freight sector and Automobiles and Vehicles with 8 per cent, 7 per cent for Consultancy and Business Development, 6 per cent for consumer products also for food and beverages, and 9 per cent comes from the other sectors.
Amna Rashid Lootah, Assistant Director General of Finance and Commercial division, DAFZA, emphasized the importance of strengthening cooperation in investments with pioneers of Germany’s business and investment community. She underscored the commitment of DAFZA to tap its advanced infrastructure, investment facilities, smart services and innovative solutions to attract leading German names to come and benefit from the tremendous opportunities in the UAE and the neighboring regional markets.
Lootah pointed out that the UAE is full of tremendous investment opportunities and promising growth prospects that support the ambitions of German entrepreneurs and investors to establish a strong presence in the major growth markets of the Middle East, North Africa and South Asia. She said that these opportunities will be enhanced parallel to the UAE’s intensive efforts to advance economic diversification further by focusing on innovation and knowledge as the country moves towards a post-oil economy.
“We at DAFZA are fully committed to providing an integrated portfolio of investment advantages that promotes the competitiveness of Dubai as an attractive center for German companies desiring to expand in the local and regional markets. This is in line with our efforts to help diversify economic activity according to a sustainable model driven by innovation and productivity that attracts value-added foreign investments to the national economy,” added Lootah.
As part of a global marketing plan aimed at promoting DAFZA’s competitiveness as a portal to key markets in the Middle East and Africa, the Freezone has been conducting a series of successful seminars in Germany over the past two years. DAFZA has also been actively participating in a number of prominent international exhibitions held in Germany, the most notable of which was ‘Automechanika Frankfurt 2016,’ the leading global commercial event for the automotive industry held last September. The event provided an ideal platform for exchanging commercial and technological knowledge as well as reviewing available opportunities in DAFZA for German investors to explore.
DAFZA will continue to support German investors through its vital role as an ideal trade and business destination and an excellent portal for expanding to key regional and global markets which are increasingly seeking German products and services characterized by high quality, precision, and outstanding performance.
The participation of DAFZA in the latest edition of IFA Berlin, the world's leading trade show for consumer electronics and home appliances, also drew considerable attention. Many major German companies expressed interest in DAFZA’s investment incentives and competitive advantages. They were also attracted to other factors such as the Freezone’s strategic location, tax exemption, advanced infrastructure, integrated portfolio of logistics services, advanced facilities, and smart solutions. The positive exposure was an important addition to DAFZA’s efforts to encourage more investments to its hosted electronics and electrical base.
A delegation from DAFZA also met with a group of decision-makers and pioneers from Germany’s pharmaceutical and medical equipment sectors on the sidelines of ‘MEDICA 2016,’ the latest edition of world’s biggest medical exhibition which was held recently in Dusseldorf, Germany. A series of bilateral meetings discussed prospects for strengthening the presence of German companies in the Middle East, North Africa and South Asia markets by availing of the competitive advantages and the investment facilities of one of the most advanced free zones in the world.
DAFZA’s successful participation in MEDICA 2016 is expected to lead to economic and investment agreements in support of nationwide efforts to encourage more innovation within the UAE’s pharmaceutical industry. It will also promote the steady growth of the local medical equipment sector which is projected to earn AED 4.4 billion Dirhams (USD 1.198 billion) by 2018.
The Freezone also recently organized an interactive seminar for a number of leading German companies in the food and beverage sector on the sidelines of ‘Yummex Middle East,’ a leading trade event dedicated to the sweets and snacks industry of the Middle East and North Africa region. During the seminar, participants were introduced to DAFZA’s latest leading investment services and solutions for meeting the current and emerging needs of the food and beverage sector, which ranks fourth among the Freezone’s biggest hosted industries. Food and beverage companies account for 8 per cent of enterprises operating in DAFZA.
DAFZA provides an ideal platform for German companies to explore the region’s emerging markets. The Freezone is a preferred regional base for internationally renowned German brands such as AudiVW, Giesecke&Devrient, Smiths Detection, TMD Friction, Trilux, VEKA, Kuehne+Nagel, TÜVRheinland, LufthansaTechnik, HARTMANN, and MANN+HUMMEL.
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© Press Release 2016
