Finnish delegation visits DAFZ
Dubai, October 25, 2009
A 20-strong business delegation from Finland visited the Dubai Airport Freezone (DAFZ) to learn about business opportunities at the Freezone to foreign investors.
The delegation comprised research funders, innovation fund officials, suppliers to the construction industry, architects, engineers and environmental experts belong to Finpro, a trade association from Finland.
“We are visiting the Middle East to study the opportunities in the region and find ways of entering the market. Finland is an export oriented country and we took part in Gulf construction during the oil boom years of the 70s and 80s. We are now trying to tap opportunities in the region,” said Tuomo Hyssalo, head of Finpro Middle East.
The delegation attended a presentation by DAFZ officials on tax free operation of businesses and one-stop solutions offered to those setting up branch offices and companies at the Freezone.
“Finnish companies could teach their counterparts in this region how to be more efficient, save more energy and electricity in new buildings under construction,” Hyssalo noted.
Welcoming the delegates, Mohammed Suwailem, sales director of DAFZ, said, 'Setting up an office in DAFZ does not require sponsorship of a UAE national in the business and having share ownership of a company by the local sponsor.'
'By registering a company in DAFZ 100 per cent ownership of a company is possible for the investor,' he stated.
He explained, however, that not all companies could be registered in DAFZ, especially those which need to be regulated by the Municipality or Health authorities such as some service companies and foodstuff companies.
A number of Finnish companies are already operating at DAFZ including Vacon Middle East (Branch), Areva T&D Branch, Lemcon Networks (Branch), Anite Finland, Coba Middle East FZCO and Teknoware Middle East.
Bassam Al Gayal, trade commissioner at the Finland Trade Centre, said Finnish companies were mostly engaged in machinery, telecommunication, engineering services, medical equipment, wood and paper.
“The top destinations for Finnish companies in the Gulf include Saudi Arabia followed by the UAE, Iran and Qatar,” he added.-TradeArabia News Service