Dubai Airport Free Zone attracts 1,425 companies

Sunday, Aug 10, 2008

Dubai: Dubai Airport Free Zone has attracted more than 1,425 companies and it continues to attract increasing investment into the country.

"The location of the free zone within the boundaries of Dubai International Airport is a key benefit that has attracted a large number of companies to the Dubai Airport Free Zone," said Ebrahim Ahli, director of marketing at the 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 said.

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.

Facilities

"Our aim is to ensure that companies in the Dubai Airport Free Zone are provided the best facilities to enable them to pursue their strategic objectives," said Ahli.

The Singapore-based subsidiary of Japan's Koyo Bearings recently opened a branch office in the free zone. The Middle East branch of Koyo Singapore Bearing expects to consolidate its presence and expand the market for bearings in the Middle East.

A business consultant said Dubai's banking and regulatory systems are attractive for companies keen to set up a base in the region.

"The immigration procedures are efficient in Dubai free zones," Raju Menon, managing partner at Morison Menon Chartered Accountants, told Gulf News.

He added that banking facilities in Dubai are far better than those in the other emirates.