Dubai / Emirates Business
Dubai Airport Freezone Authority (DAFZA) has hosted new roadshows in New Delhi and Bangalore in India under the overarching theme of ‘Gateway to Growth’. The events highlighted the attractive investment opportunities that DAFZA has created for international businesses, with the aim of increasing Foreign Direct Investment (FDI) from India to Dubai, in line with Dubai Plan 2021.
The roadshows were led by a senior delegation from DAFZA and provided Indian businesses of all sizes insights on the business landscape
in Dubai and the investment trends across key sectors within the Emirate.
Ties between India and the UAE have continued to strengthen, as shown by the annual increase in the number of Indian companies which now account for 10 percent of the total number of Asian companies based in DAFZA. The current level of bilateral trade between the UAE and India as a whole amount to about
The roadshows initiative joined a series of projects launched by DAFZA to help stimulate business interest from Indian companies to set up in the free zone. This included a special forum which was held for Indian businesses under the theme ‘India: A Strategic Partner for Growth in an Evolving Global Economy’. The initiatives help showcase DAFZA’s innovative economic solutions that have been designed to drive commercial growth and diversification; as well as enhance the UAE’s role in the development of the international economy.
Jamal Bin Marghoub, Sales Director, DAFZA: “The UAE and India share a deep and historic relationship that has only developed and grown in recent years. Trade and economic activities have played a crucial role in this development and we believe that India will remain a strategic partner to our country for many years to come. DAFZA’s roadshows in Bangalore and New Delhi are just some of the many initiatives that we have created to help nurture bilateral trade and attract more investment and business opportunities for organizations in both countries.
“We are enhancing and developing new services to help start-ups as well as medium and large businesses to identify new prospects for setting up operations in the free zone. We look forward to continued long-term success and cooperation between the two nations, as we seek to help diversify the economy and establish fruitful international partnerships,” added Jamal Bin Marghoub.
During the roadshows, Dafza showcased how the IT, Internet and telecommunications sectors are among its fastest-growing serviced sectors involving Indian companies. Electronics follows as second fastest, with jewellery, watches and precious stones tied at third. Some of the key Indian companies include Tech Mahindra, Tally, Mind Tree, Godrej, Kalyan Jewelers FZE, Chemmanur Gold Palace International FZCO, Himalaya Drug Company FZCO, and TATA Motors Ltd.
DAFZA’s recently announced results show that companies operating in the ICT sector accounted for 28% of the total number of companies operating within the free zone. 10% were in the consumer products sector; 9% in the investment and business development sectors and engineering and building materials sector; shipping, logistics, aerospace and related services were at eight percent. Seven percent of companies at DAFZA were in the food and beverage sector and five percent in medical equipment and pharmaceuticals. India will continue to be a major market across a number of these sectors for DAFZA’s future initiatives and projects.
Dafza eyes Chinese investors
Dubai / Emirates Business
Attracting new investment and trade opportunities from the Chinese market will be the central focus of a new roadshow to be hosted by Dubai Airport Freezone Authority (DAFZA) in the Shenzhen province, China.
Held between April 17-20, the event will aim to showcase to the Chinese community the growing business prospects available in Dubai and the UAE.
The central theme of the roadshow is ‘Gateway to Growth’, which reflects DAFZA’s strategic objective of increasing Foreign Direct Investment (FDI) from China to Dubai, supporting Dubai Plan 2021 and the UAE’s long-term vision.
The roadshow is one of many of DAFZA’s global initiatives which aim to communicate the free zone’s unique offerings in terms of connectivity, infrastructure and strategic location.
China and the Asian market in general will remain a major focus area for DAFZA and the UAE. 17% of the number of companies at DAFZA are from Asia, as reported in the 2017 results, of which China represents a significant portion. Some of the Chinese companies who chose to operate out from DAFZA are Wiko Corporation MEA FZCO, WANHUA CHEMICAL GROUP Co.,LTD (Branch), COSL Middle East FZE, China Southern Airlines Branch, China Eastern Airlines Corporation Limited (Branch), Sinochem Corporation Representative Office (Branch), Petro-King Group Middle East Corporation FZE.
Amna Lootah, Assistant Director General – Finance, Commercial & Customer relations Division Foster of DAFZA Innovation & Future Unit commented: “DAFZA remains committed to attracting foreign investment and international business from the key markets across the globe. China continues to be one of the largest and most important strategic markets for the UAE economy and as such as we have created a number of initiatives to help bolster ties between the two nations. The bilateral trade between China and the UAE reached a total of AED170.2 billion in 2016, which made China the UAE’s biggest trade partner for the third consecutive year. In 2017, two-way trade between the two countries crossed $35 billion in the first nine months of the year alone.”
“The roadshow will help educate and motivate Chinese businesses on establishing operations at DAFZA – potentially benefitting from the unique offerings within the free zone. We are excited to strengthen relations with the businesses we meet in Shenzhen and look forward to welcoming them to DAFZA in the near future,” added Amna Lootah.
DAFZA recently announced a new strategic partnership with Liaoning Chamber of Commerce UAE. The Memorandum of Understanding (MoU) will increase collaboration between the two organizations to help expand bilateral trade and create new business and investment opportunities with Liaoning province. The Authority also previously signed an MoU with China (Guangdong) Pilot Free Trade Zone (GDFTZ) – Nansha Area of Guangzhou (Nansha FTZ).
These initiatives show that DAFZA remains committed to engaging with the Chinese market through a series of campaigns in a number of provinces including Shenzhen and Guangzhou.
A senior delegation from DAFZA will lead the roadshow, which will provide Chinese businesses a dedicated display on how they can benefit from the opportunities of DAFZA’s comprehensive services and packages.