Jebel Ali Free Zone Sees Interest From Australia
by Lorys Charalambous, Lowtax.net, Cyprus
04 April, 2014
The Jebel Ali Free Zone (Jafza) in the United Arab Emirates (UAE) said on April 2, 2014, that it expects a 10 percent increase in the number of Australian companies registered in the zone this year.
Jafza Roadshow and Business Seminars in Sydney and Melbourne have aroused the interest of a large number of leading Australian companies in the rapidly growing Middle East markets and Jafza, according to a statement from the free zone. Most of the interested companies are from the food, infrastructure development, and construction sectors.
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. It is currently home to more than 50 leading Australian multinationals.
Adil Al Zarooni, Senior Vice President of Jafza, pointed out that the UAE is Australia's largest trade partner in the Middle East and North Africa region. He commented: "The changing economic landscape in this rapidly expanding region has given rise to huge growth opportunities for global multinationals in variety of sectors right from infrastructure development to food, and from healthcare to logistics. Growing interest of Australian companies, particularly from the food and infrastructure sectors, which are Australia's strong holds, is quite natural. Our roadshow and business seminars have unveiled opportunities and evoked their interest."
The bilateral trade between UAE and Australia has grown significantly in the last couple of years to reach USD6bn.
See all of today's news