Sunday, Jun 19, 2011
Dubai: Jebel Ali Free Zone (Jafza) has announced that trade worth Dh115 billion went through the free zone in 2010, compared to Dh59 billion in 2005.
According to latest figures, trade generated by companies in this sector made up half of Jafzas non-oil trade in 2010.
Talal Al Hashimi, managing director, EZW-UAE Region said: The machinery and equipment manufacturing sector has demonstrated steady growth in the last five years. The industry within Jafza is made up of 1,219 companies and represents 20 per cent of the total number of companies operating in Jafza.
Growth potential
Speaking to industry leaders at Jafza's Strategic Customer Forum, Al Hashimi focused on customers in the heavy equipment and manufacturing sectors. Top industry representatives who attended the forum include senior officials from Emerson, Anixter, Cleveland Bridge, Lucy Switchgear, ITR Middle East, Kimoha, FG Wilson, Weir Engineering, Flowserve, Emirates Transformers and L&T among others. The attendees discussed rising industry costs, immigration policies, federal rules and regulations and ways to enhance operational efficiency. The forum also discussed the growth potential of the machinery and equipment sector and ways to capitalise on emerging opportunities for Jafza companies.
A Saudi American Bank Group (Samba) study expects GCC economies to grow seven per cent in 2011.
Staff Report
Gulf News 2011. All rights reserved.
