Healthcare Sector In Jafza Records Strong Growth
by Lorys Charalambous, Lowtax.net, Cyprus
28 January, 2015
The Jebel Ali Free Zone (Jafza) in the United Arab Emirates (UAE) has said that its pharmaceutical and healthcare sector has seen robust growth in the last several years.
The sector undertook trade worth AED10.1bn (USD2.75bn) in 2013, an increase of over 29 percent from the preceding year. The free zone expects similar growth in future years and is seeking to drum up business at a number of upcoming conferences.
Jafza is home to more than 270 leading multinationals in the pharmaceutical and healthcare sectors, including Johnson & Johnson, Roche Group, Sanofi, GlaxoSmithKline, Quest Vitamins, Carl Zeiss, Nihon Kohden, Sodexo and GE Healthcare.
The free zone offers a number of benefits to companies established in the zone, including 100 percent foreign ownership, zero percent corporate tax guaranteed for 50 years, zero percent import and re-export duties, zero percent personal income tax, and no restrictions on the repatriation of capital and profits.
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