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UAE Freezones Biz News Updates
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In the zone
Economic Zones World is making business easier, safer and more efficient for
the world's companies through the advantages offered by its various
enterprise parks
Dubai-based EZW is one of the globe’s pioneering developers and operators of
economic free zones, technology, logistics and industrial parks, the
combination of which creates an extensive infrastructure to support the
expansion of its booming international customer base.
With the list of enticing benefits on offer, such as 100 percent foreign
ownership and repatriation of capital, zero income tax, corporate tax and
import/export tax, low operating costs and fast-track business setup, its
little wonder many of the world’s top multinationals are flocking to these
zones in their droves.
Jebel Ali Free Zone (Jafza), one of the world’s largest and EZW’s flagship
operation, has 150 of Fortune Magazine’s top 500 corporations operating
within it. Located in the western end of Dubai close to Port Jebel Ali, the
world’s largest man-made harbour, Jafza stretches over 48sqkm and contains
more than 6,400 companies based in office units, warehouses, light
industrial units and self-developed land sites. Other facilities include
business centres, hotels, build-to-suit opportunities and world-class
logistics connections.
One stop shop
The free zone has created a one-stop solution for any and all services
required by a company wishing to establish activities and take advantage of
the unique environment contained within. A beneficial step was reducing the
amount of approvals needed from various ministers and government
departments, with a straight-forward checklist being drawn up to facilitate
a smooth set-up.
More than 300 African companies are currently reaping such rewards from
Jafza’s many advantages, the majority hailing from Egypt, with Sudan,
Tanzania and Kenya making up many of the remainder. Some of the more
well-known names include Afrisource, Barloworld Logistics, Dorman Long
Engineering, Punch Limited, Kampac Oil and Metra Computer Group.
“Many African countries have huge investment potential, constituting
opportunities for companies both within the continent and those based in the
UAE,” said EZW Chairman Hisham Abdullah Shirawi.
“In Dubai, especially in Jafza we have the infrastructure to facilitate the
establishment of an international dimension for African businesses. We offer
facilities for storage, packing, marketing and a means of being connected to
a truly global distribution network; all of which are unfortunately not
adequately available throughout Africa,” he added.
Though headquartered in the business capital of the Middle East, EZW also
has a growing number of wider interests with activities across the UAE,
Middle East, India, Asia Pacific, Europe and the Americas. Of increasing
importance is EZW’s own presence in Africa through Djibouti Free Zone (DFZ), located
on the horn of the continent.
Created with the singular purpose of radically changing the way Africa
thinks and conducts business; through DFZ, EZW have shaped the ideal
environment in which trade and commerce can flourish.
“Africa is a very promising region, one of the fastest developing
economically speaking,” said Shirawi. “It has huge potential in terms of
energy, food, agriculture and a host of other resources.
“DFZ is one of the most successful free zones in Africa and we have plans to
not only expand that operation, but establish a similar entity elsewhere on
the continent particularly where high production facilities exist or could
be developed and where raw materials or other opportunities could be
leveraged.”
Overcoming hurdles
Responsible for developing and overseeing not only Jafza, EZW’s Dubai
operations also includes Techno Park – providing specialist facilities for
companies wishing to establish a manufacturing or R&D presence; Dubai Auto
Zone – an area for the import/export of vehicles and converting a proportion
from left-hand to right-hand drive and vice-versa; and Gazeley – a global
developer and provider of sustainable logistics solutions.
“When Jafza was established in 1985 under the Late Ruler of Dubai Sheikh
Rashid Bin Saeed Al Maktoum, it wasn’t a common activity and many considered
it to be a short-lived dream; time has proven otherwise,” said Shirawi. “We
have amassed a huge amount of knowledge, overcoming many of the hurdles such
an activity creates and we would be very keen to share our experiences with
African nations and companies.”
Within Jafza there is a business unit dedicated to working on opportunities
such as establishing additional free zones in other parts of the world, with
a particular African focus towards energy, like the huge reserves of coal in
Mozambique, and agriculture, with corn being considered as not only a
potential food source, but also a synthetic fuel.
“We have to consider each of them, prioritising on the basis of ease of
execution, fastest payback period and the willingness of a country to invest
in one sector over another; then we can establish our collaborative economic
activities. The opportunity really is huge,” said Shirawi.
For African regions wishing to establish their own free zones, the final
vision has to be the focus, said Shirawi: “What type of environment do
countries ultimately want to operate in among themselves and the rest of the
world in 10, 20, 50 years?”
“Once that vision becomes clear, it’s then easier to work backwards and
define the rules, regulations, modifications and requirements needed that
will facilitate certain stage to achieve that end goal. At each stage
feedback must be gathered to monitor progress and see what has already been
achieved.”
“Africa, like any other continent, is going to be integrated with the rest
of the world’s economy; you can’t simply live in isolation anymore. You have
to talk to your neighbour because we all have common interests, to try and
do otherwise is impossible,” he concluded.Writte
May 7, 2013 |
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Courtesy WDM Group
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