PHOTO
Dubai’s state-owned Jebel Ali Free Zone (Jafza) has seen a huge jump in the number of companies setting up businesses in the flagship business park this year.
New customer registrations in the free zone, a major contributor to Dubai’s economy, grew nearly 40 percent year-on-year in the first half of 2021, taking the total number of Jafza-based businesses to more than 8,700.
Businesses in the machinery and equipment sector, as well as vehicle and transport and retail and general trading, dominated the registrations, with growth averaging 188 percent, 100 percent and 78 percent, respectively.
In a statement, Jafza said it continued to attract businesses despite the ongoing pandemic because of the business park’s location. The site is located alongside the region’s largest deep-sea Jebel Ali Port and near the Al Maktoum International Airport.
“Its multimodal connectivity and proximity to the Al Maktoum International Airport, the much-awaited Etihad Railway and key regional highways proved to be a major attraction for companies,” Jafza said.
The zone’s collaboration with Expo 2020 Dubai has also attracted more companies to set up in Jafza. “The Jebel Ali hub ensured all Expo-related cargo was brought into Dubai and handled safely and promptly,” the statement said.
The free zone is considered Dubai’s major source of foreign dire investment (FDI) inflows, accounting for 23.9 percent of total FDIs. In 2020, the zone generated trade worth $104.2 billion, representing 32 percent of the total trade value of Dubai as of last year.
(Writing by Cleofe Maceda; editing by Seban Scaria )
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021
