Volume # 07 | July, 2013

UAE Freezones Biz News Updates

Italy invested US$ 105.8 million in UAE since 2011

The Freezone seeks to attract further investments through seminars in Rome and Milan

Dubai Airport Freezone (DAFZA ) recently hosted two seminarsin Rome and Milan to maintain the United Arab Emirates' strong economic ties with Italy.

The seminar discussed the benefits of investing in Dubai, and specifically DAFZA , to representatives from Italian businesses looking to expand into the Middle East and North African markets. This comes at an appropriate time, astrade between the two countries has consistently increased over the last few years. Italy has exported 4.7 billion Euros to the UAEand has imported commodities worth 300 million Euros from the UAE in 2011.

Jamal Bin Marghoob, Director of the Marketing &Corporate Communications Department, DAFZA , commented, "As a facilitator of international trade, DAFZAactively works to attract Italian companies through various marketing activities working closely with the Italian Ministry of Economy. As a result, we have found that the number of Italian companies currently operating out of the Freezone has steadily increased.European companies currently represent 31 per cent of investment in DAFZA."

Bin Marghoob added, "The Freezone's seminars in Italy will work to strengthen the existing relationship.DAFZA is a natural choice for businesses expecting integrated solutions through a service-centric platform as we work to cater to our Italian stakeholders alongside our consultants Gianni OrigoniGrippoCappelli& Partners."

27 Italian companies are currently operating out of DAFZA , including Luxottica Middle East FZE, Montegrappa Middle East FZE, Ariston Thermo Spa Middle East, and Iguzzini Middle East FZE. In addition to its prime location and attractive investment opportunities, international investors reap the benefits of dynamic growth through DAFZA 's tax exemption and foreign ownership policies.

Earlier this year, DAFZA announced its expansion plans for 2013 to continue improving andto facilitate its tenants' business operations. Currently, DAFZA is in the process of building a project inclusive of:seven floors dedicated to new offices for international organizations and a building dedicated to DAFZA 's strategic partners from various governmental institutions, and a food court with mixed use recreational business facilities. The main power station will increase capacity by 40 per cent to accommodate this growth.

Additionally, DAFZA will be adding a multi-storey car park with a capacity for 850 cars, catering to the tenants' needs. The project is planned to exceed more than AED 500 million, for a total building area of 70,000 sqm. Phase one is expected to be completed in 2015.

In 2012, DAFZA was named 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.

Jun 04, 2013

Free Zones Of UAE

Volume # 07 | July, 2013

UAE Freezones Biz News Updates

Courtesy Zawya

Emirates Of UAE

Business

UAE Offshore