Jebel Ali Free Zone Seeks IT, Electronics Firms
by Lorys Charalambous, Lowtax.net, Cyprus
26 June, 2014
Seeking to expand its roster of electronics and IT sector companies, the Jebel Ali Free Zone (Jafza) in Dubai is looking to leverage the upcoming Dubai World Expo 2020 and a number of initiatives undertaken by the Dubai Government to attract new companies to the zone.
Speaking at a forum held in the free zone, Ibrahim Mohammed Al Janahi, Deputy CEO and Chief Commercial Officer of Jafza, said: "There is a strong need for collaboration between the industry leaders, experts, Jafza management and its partners to reinforce Jafza... as the electronics sourcing hub for the Middle East, in order to capitalize on the impending growth opportunities in the region."
He pointed out that the Dubai Smart City project, which aims to give government services a technological makeover, and World Expo 2020 are set to create huge opportunities for Jafza-based companies in the electronics and IT sector.
He made the comments at the Customer Forum for Electronics and IT, organized by Jafza to discuss ways to collaborate on growing the sector. Jafza has seen a 43 percent expansion in the number of companies in the electronics and IT sector in the last five years, from 846 in 2009 to 1,248 today. The sector generated trade worth USD28.44bn in 2013, up three percent from 2012.
Jafza offers a number of business incentives to companies established in the zone, 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 no restrictions on the repatriation of capital and profits.
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