Dubai Airport Freezone Welcomes Japanese Medical Firm
by Lorys Charalambous, Lowtax.net, Cyprus
02 August, 2016
The European branch of Terumo Medical Corporation, a Japanese multinational medical products and equipment firm, has opened a new office at the Dubai Airport Freezone to better serve its customers in the Middle East and Africa and to pursue new opportunities in the region.
Mohammad Ismail, General Manager of Terumo Middle East, said: "Through our new HQ, Terumo will be able to facilitate business operations in the region and ensure timely and efficient distribution of our products and services to our distributors as well as engage key opinion leaders and patients at a more personalized level."
"We expect that our presence in Dubai will help us focus more on serving local and regional patients by making our solutions easily accessible. We will also leverage DAFZA's numerous incentives such as 100 percent exemptions on corporate and personal income taxes, full foreign company ownership and repatriation of capital and profits, a dedicated logistics center with 24-hour services, single-window administrative support, advanced infrastructure, and investor-oriented management, among many others. This is the best place for us to reach out to a number of the most promising healthcare markets in the world."
The Dubai Airport Freezone Authority (DAFZA) said that demographic trends such as a growing aging population and increased healthcare expenditure per capita have turned the Middle East into one of the world's most dynamic healthcare markets. The Gulf Cooperation Council (GCC) healthcare business alone is projected to grow at 12 percent per annum to USD69.4bn by 2018, it said.
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