Dubai Airport Freezone home to 122 US firms
Dubai, June 16, 2010
The number of American companies operating in Dubai Airport Freezone (Dafz) is on continuous increase and the zone is now home to 122 US companies, said a top government official.
Speaking during a meeting with the American Consul General Justin Siberell yesterday at his office in the Dafz, Dr Mohammed Al Zarooni, director general of Dafz pointed out that, the American companies operating in the freezone are of valuable quality and major contribution in the global and local economy.
Justin Siberell was briefed on the facilities and incentives available for foreign investors setting up regional or branch offices at the Freezone.
Of the 122 US companies at Dafz, 44 are operating in distribution, 43 in assembly, 16 in consulting, nine in trade, six in service and three in the industry sector.
Some of the top US companies are Boeing, Heinz, National Air Cargo and Johnson & Johnson.
“Most people tend to believe that since the UAE is a major oil exporter, the trade relationship between the UAE and the US is based on oil. However the relationship actually is characterised by a set of high value trade and investment activities that often have little to do with oil,” said Dr Zarooni.
“Dubai Airport Freezone provides the right infrastructure, facilities and business environment that suit many of the American companies to consider it as a platform for launching their businesses in the region,” added Justin Siberell.
According to a report by the UAE Ministry of Foreign Trade, “US exports have increased from Dh13 billion ($3.6 billion) in 2002 to over Dh53 billion ($14.5 billion) in 2008. The UAE bought more US goods than any other country in the Arab world. UAE is the single largest import market for US goods in the Middle East for 2008.
Passenger jets and helicopters manufactured by Boeing were the largest volume category exported to the UAE in the period between 2006 and 2008. Other major export products include cars, construction machinery and related equipment, as well as jewellery.
'We are ready to create the best investment environment for investors and provide all the facilities and legal status to enable them to do their business without any hassle,” concluded Dr Zarooni.-TradeArabia News Service