Dubai Airport Freezone attracts international F&B looking to grab a slice of the lucrative local market

UAE imports 90% of its F&B requirements

Dubai, UAE. March 10, 2013. With GCC food imports expected to more than double in the next decade, growing from US$25.8 billion in 2010 to US$ 53.1 in 2020, the food and beverage (F&B) sector is one of the fastest growing industries in the world, valued at US$ 7 trillion[i]. Dubai Airport Freezone's (DAFZA) presence at Gulfood 2013, an annual Dubai-based trade show for the hospitality industry, illustrated the evolution of the UAE's F&B sector food sector, which currently imports 90 per cent of its requirements, through the increasing new business opportunities being presented.

Mohammed Suwailem, Senior Director of Sales at Dubai Airport Freezone (DAFZA), commented on how the impact the Freezone has seen in this sector, and why it has targets to increase its F&B tenants by eight per cent, "With a record of 4,200 exhibitors, we find that Gulfood and F&B focused events, provide increasingly beneficial opportunities for us to showcase our facilities to companies who are looking to invest in their business in the Middle East and want the support and expertise to do so."

Nabil Skaria, Vice President of The Hershey Company for Europe, Middle East and Africa, a long-standing tenant at DAFZA, said, "We are very excited about the opportunities to sell our iconic brands in the Middle East. Consumers in the GCC Arab states are very discerning about chocolate taste and variety and are eager to buy chocolate that delivers great taste and quality. We have found a strong demand for our chocolate products in the region, especially our Hershey's Milk Chocolate and Kisses brands. We look forward to bringing our delicious, iconic products to the marketplace and consumers in the Middle East as our business grows in the region."

Currently, six per cent of companies in the Freezone operate in the food and beverage industry and maximise usage of the Freezone's facilities and services. In addition, DAFZA boasts prime location and attractive investment opportunities; international investors reap the benefits of dynamic growth through the Freezone's tax exemption and foreign ownership policies.

About Dubai Airport Freezone (DAFZA)
Established in 1996 as a part of the Dubai Government's strategic plan to be an investment driven economy, DAFZA is one of the fastest growing premium free zones in the region. The free zone is currently home to over 1,600 companies from various industry sectors, including aviation, freight and logistics, IT and telecommunications, pharmaceuticals, engineering, food & beverage, jewelry and cosmetics. Located strategically within the boundaries of Dubai International Airport, DAFZA offers a range of modern facilities with a state-of-the-art infrastructure.

International investors can enjoy dynamic growth through DAFZA's excellent incentive packages including 100 per cent tax exemption, 100 per cent foreign ownership and no currency restrictions. Situated at the crossroads of Europe, Asia and Africa, DAFZA is a gateway providing access to over 2.5 billion consumers.

In 2012, DAFZA was name Number One Free Zone in the World by Foreign Direct Investment (fDi) magazine, moving up from second place in 2011. Previous accolades with fDi include number one Middle East free zone of the Future and number one free zone in the UAE and in the Middle East, in its 2011/12 rankings. DAFZA's commitment to quality is recognized by worldwide ISO certificates for Quality, Environment, Health & Safety and Information Security Management System, as well as Complaints Handling System. In 2010, DAFZA won the Dubai Quality Appreciation Programme award in the service category and in 2012 it was named Best free zone in the world by fDi.

For further information:
Susan Parker: susan.parker@ketchum-raad.com/ +971 50 101 4403 / +971 4425 8975

Liana Khalaf: liana.khalaf@ketchum-raad.com/ +971 50 913 3177 / +971 4425 8977

[i] english.alarabiya.net/articles/2013/02/27/268720.html