Jebel Ali Free Zone Seeks Malaysian Investment
by Lorys Charalambous, Lowtax.net, Cyprus
05 May, 2014
Dubai's Jebel Ali Free Zone (Jafza) said that the recently announced Halal Zones in Jafza and TechnoPark attracted strong business interest among Malaysian investors during a promotional seminar hosted by Jafza in Kuala Lumpur.
The seminar was attended by 60 manufacturers and exporters mainly from food, healthcare, beauty, technology, and oil and gas sectors besides top UAE and Malaysian dignitaries.
Ibrahim Al Janahi, leader of the Jafza Business Seminar and Roadshow in Malaysia, said: "Rapidly increasing demand for halal products in the Middle East in particular, and globally in general, has made halal one of the most important sectors in the global economy."
He pointed out that the global halal products market is currently valued at USD2.3 trillion and is expected to be worth USD6.4 trillion in 2020. "The sector, therefore, provides huge opportunities for global investors...We, through our seminar and roadshow, invite Malaysian investors to take advantage of the market opportunities in the sector," he said.
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. TechnoPark is an industrial complex being built in Dubai to foster growth in the information technology sector. The Halal Zones are expected to be fully operational in the next two years.
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