By Abdul Basit www.khaleejtimes.com
DUBAI – Expansion by European and US companies boosted Dubai Airport Freezone’s revenues by 30 per cent during 2009 compared to the previous year, the freezone said.
European companies in the Freezone represent 34 per cent of the operating companies in various sectors, while US companies represent 8 per cent.
“It is no doubt that the global financial crisis has affected the world economic activities, but free zones around the world and in particular Dubai Airport Freezone has benefited great deal from these exceptional circumstances and turned them into positive opportunities opening its doors to foreign companies seeking to expand their markets to distribute their products in the Middle East and beyond,” Shaikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Airport Freezone and the Emirates Group, said.
Shaikh Ahmed said that the growth rates of European, American and Japanese companies in the Dubai Airport Freezone encourages us to communicate with those markets and try to attract more of them.
The results give a positive indication about the emirate’s ability to achieve good results during the coming period and also indicate increasing willingness of foreign firms to operate from Dubai, he said.
He said that the Dubai Airport Freezone has been able to achieve the objectives of its establishment as it attracted many global companies in 2009. These global companies represented more than 20 per cent of the total registered companies, such as Hubbell Incorporated from the US Symriyse from Germany, Saqem Communication from France and Idemitsu Lube from Japan, bringing the number of registered companies in the Freezone to 1,490 companies.
He added that the freezone provides many advantages and incentives that meet the needs of foreign companies.
Shaikh Ahmed said that the Freezone is expanding its capacity due to increasing demand.