New firms in Jafza grow by 28% to 347 in 9 months

The number of new companies joining Jebel Ali Free Zone (Jafza), the flagship free zone operations of Economic Zones World, grew by 28 per cent to reach 347 in the first nine months of 2012 as compared to 271 in the first three quarter of last year.

In the third quarter alone 111 new companies joined Jafza, an increase of 32 per cent in comparison to the same period in 2011, the authority said in a press statement.

Top names that joined between July and September include Manuchar from Belgium, Fauchon Paris from France, Kotra from Korea, Cryogenic Industries from USA, Summit Construction Equipment and Komatsu DSO from Japan and Sinopec International from China.

Jafza was home to 6,812 companies at the end of September 2012.

Twenty eight per cent of the new companies were from Europe, 23 per cent from the GCC, 22 per cent from Asia Pacific, 10 per cent each from Americas and the Middle East and seven per cent from Africa.

In terms of countries the largest chunk came from the UAE followed by India, United Kingdom, Germany, China, the United States, Egypt, Canada and France.

In 2011, Jafza companies together generated trade worth Dh253 billion accounting for more than a quarter of Dubai’s total trade. Jafza accounted for almost half of the emirate’s total exports and contributes over 21 per cent to Dubai’s GDP on year-to-year basis.

Ibrahim Mohamed Al Janahi, Deputy CEO, Jafza said: “Our continued qualitative growth, despite political instability in some parts of the region, reinforces the growing importance of the greater Middle East comprising West Asia, the CIS and Africa and Jafza’s role as the gateway and the trade and logistics hub to serve the region. We are, as a facilitator, fully committed to provide the best value and facilities to global investors to capitalise on the emerging opportunities in the region.”

He added: “With huge investments on infrastructure development in the region the Greater Middle East offers long-term growth opportunities for global investors.”

More than $4 trillion is planned to be invested in the development of economic infrastructure and public welfare projects in the region in the next 10 years. This will further boost investor interest in the region and Jafza as the regional hub.

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