Dubai, 2 March 2009 (WAM) - H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Airport Free Zone, expects growth of investments to continue through attracting more international niche companies and increasing office occupancy in the free zone to support Dubai's local economy, which enhances its major role as a successful international centre for business and trade activities.
Speaking to the press, Sheikh Ahmed assured service support for investors and providing the facilities that help international companies to increase their businesses in Dubai. After 12 years of operations, how has Dubai Airport Free Zone achieved its economic objectives?Dubai Airport Free Zone has managed to achieve its economic objectives in the last decade to become a living example of supporting the economic development in Dubai specifically and in UAE in general, through attracting premier international companies. These companies have invested a huge capital that supported both trade and business activities in the Emirate. The Free Zone also provided job opportunities for qualified UAE Nationals to hold leading managerial positions gaining good experience to interact with international companies. The success of Dubai Airport Free Zone has also created high skilled nationals who contributed in establishing and running of new Free Zones in the Emirate. The Free Zone is now a value added to the economy of Dubai particularly in areas such as export, re-export, consultancy services, distribution, assembling and many other activities that makes it a thriving hub in the region. It has also played a great role in increasing the air cargo traffic capacity. In brief, Dubai Airport Free Zone was able to achieve success in a unique way, backed by the investment environment of Dubai and its location adjacent to Dubai International Airport. What are the reasons for the success of Dubai Airport Free Zone? There are several reasons for the successful of the Dubai Airport Free Zone project, the most important of which is the viability of the concept and the perfect timing with the global business changes and the desire of international companies to explore new markets in the Middle East, Asia and Africa. The second main reason is the clarity of objectives and strategy of the set by His Highness Sheikh Mohammed Bin Rashed Al Maktoum, Vice President & Prime Minister of UAE and Ruler of Dubai. How much would the global financial crisis affect Dubai Airport Free Zone performance this year? Free zones play a vital role in countries' economy. As per the strategic objectives set initially, Dubai Airport Free Zone has consistently supported Dubai's economy. To achieve the goals of supporting the local economy, the Free Zone has carefully selected companies operating within its vicinity for a long term partnership. The global crisis has affected many businesses in developed countries which Dubai is part of; therefore, the effect is slightly felt. The government has thus taken the right measures to avoid the crisis impact to the local economy. Considering above reasons, we are still optimistic that the free zone will act professionally to turn theses effects into positives results by attracting more international companies seeking new markets apart from their traditional ones. Results achieved in the last quarter of 2008 are positive expectations of increasing growth rates and very much hope 2009 will be a fruitful year. Does that mean expansion plans in 2009 will continue? Free zones are safe haven for international companies that seek unique position and growth, while other companies suffer financially. Investment revenue in the free zones exceeds the same in trade outside free zone environment. To that end, expansions will continue as planned. Few office buildings will be delivered in the first half of 2010. Do you think that establishing multiple free zones in Dubai would affect each other negatively? Multiple free zones in Dubai will positively affect local economy since each free zone has its own approach. Marketing activities of these free zones in international markets will benefit Dubai's economy and the free zones as a whole. Each free zone has its own competitiveness, which provides different choices for different investor's needs. What is the characteristic of Dubai Airport Free Zone? And what about its competitive advantages? Dubai Airport Free Zone attracts multinational companies in different industry sectors, especially those of high value and low volume as they are transported easily by air. Thus, we focus on electronics, cosmetics, pharmaceuticals, jewellery, precious stones, along with aviation and air cargo sectors. The location of the Free Zone within an airport is a very competitive advantage in additional to its unique position within the Dubai International Airport, being the busiest airport in the region. The Free Zone also has state of the art premises that provide ideal environment for all international investor. How successful is the Emiratization policy in Dubai Airport Free Zone? Emiratization policies in the Free Zone are applied in a programmed manner, allowing job opportunities for UAE Nationals and providing continuous training & developing programs as per Dubai Government strategy. The Free Zone management has achieved Emiratization policy counts for 75% of the total staff while 100 % in senior management posts.Copyright Emirates News Agency (WAM) 2009.
