Dubai Promotes Airport Freezone In Japan
by Lorys Charalambous, Lowtax.net, Cyprus
23 November, 2016
A delegation from the Dubai Airport Freezone (DAFZ), the low-tax financial center, touted Dubai's investment opportunities to the Japanese business community during a series of seminars held recently in Japan.
The zone's regulator, the Dubai Airport Freezone Authority, said the international seminars are part of an ambitious marketing plan aimed at informing global investors about opportunities at DAFZ. These include exemptions from corporate tax, personal income tax, and import and export duties. Companies established in the zone may also be fully owned by foreign entities.
Some of the world's leading Japanese names already have a presence in DAFZ, including Panasonic Avionics Corporation, Toyota Tsusho Corporation, Takeda, Yamaha, Toyota, Toyo Engineering, Ricoh, Denka, NEC, Kawasaki, and Mitsubishi Hitachi Power Systems. The number of Japanese companies in the DAFZ continues to grow, with a 19 percent increase during the third quarter of 2016 compared with the same period in 2015.
During the first half of 2016, trade between the United Arab Emirates (UAE) and Japan stood at AED43.3bn (USD12.1bn), making the UAE Japan's largest-trading partner among Gulf Cooperation Council countries.
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