Indonesian Interest In Jebel Ali Free Zone, Dubai
by Lorys Charalambous, Lowtax.net, Cyprus
28 April, 2014
Jebel Ali Free Zone in Dubai, the United Arab Emirates, announced that its recent promotional tour of Indonesia attracted a large amount of interest from businesses in the country.
The Jafza Business Seminar in Jakarta, part of the free zone's two-day roadshow in Indonesia, was attended by more than 200 Indonesian exporters and manufacturers, as well as top UAE and Indonesian dignitaries, Jafza said.
Ibrahim Mohammed Aljanahi, leader of the roadshow, said: "Indonesia and the UAE enjoy strong bilateral relations. Despite this the bilateral trade between the two countries hovers around just USD2.5bn, which is less than 1.5 percent of Indonesia's global exports in 2013. I believe the prospects for boosting the volume of bilateral trade between the two countries are huge and need to be capitalized on."
Edy Putra Irawady, the UAE ambassador in Indonesia, commented: "The strong presence of Indonesian investors at the Jafza Business Forum reflects the strong desire on both sides to strengthen bilateral business between Indonesia and Jafza, which in effect would mean Indonesia's stronger presence in the regional markets, which Jafza as a hub serves. I am sure Indonesian companies in the oil and gas, electronics, automotive, textiles, wood and wood products sectors, will take advantage of the growing opportunities in the region."
Khalid Al Marzooqi, Jafza's Asia Pacific Regional Manager, said that the free zone expects to see a half a dozen new Indonesian companies join Jafza this year, based on the strong response at the seminar.
Jafza offers a number of business incentives, including 100 percent foreign ownership, zero percent corporate tax for 50 years, zero percent import or re-export duties, zero percent personal income tax, and unrestricted repatriation of capital and profits. The zone is located nearby Jebel Ali Port, Dubai – the largest port in the Middle East region.
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