Jafza Marks a 10% Growth in Indian Companies
According to the latest data, more than 800 Indian companies have set up business across Jebel Ali Free Zone (Jafza). These companies provide for regional markets via their regional base in Jafza free zone.
Jafza recently held a four-day-long roadshow in Mumbai with the purpose of attracting Indian multinational corporations to the free zone. One of the many seminars coordinated by Jafza included a seminar focusing on investors. According to data, Jafza is home to more than 800 Indian companies. These companies provide regional markets via their regional base within Jafza. The number of Indian companies in Jafza marked a 10% increase in 2014.
During Jafza’s visit to Mumbai, the free zone’s officials stressed the advantages that Indian investors could benefit and take advantage of in the Middle Eastern growing markets.
While the deputy CEO of Jafza and Chief Commercial Officer of Economic Zones World, Ibrahim Mohamed Al Janahi, led the India roadshow, the CEO of a steel company in Jafza, Bharat Bhatia as well as the President of Dubai’s India Business Council, Kulwant Singh, also represented Jafza.
Currently, the United Arab Emirate (UAE) top trading partner is India and Jafza has played a vital role in developing stronger trading ties amongst the two countries. The purpose of the Jafza roadshow was to attract more Indian companies to the free zone, which will also further promote and strengthen the relations between the two countries.
The majority of countries across the Middle East are presently attempting to diversify their economies and nor dependent on oil. These countries are currently investing more than $4 trillion in infrastructure targeting non-oil business fields and activates. Therefore, investments will not only promote the engineering and construction sectors but a variety of other economic fields starting from healthcare, transport, food and beverage to hospitality and communication.
The Expo 2020 that will be held in Dubai will also enhance infrastructure-linked operations across the UAE and other regional countries. it is expected that more than 25 million visitors will visit the emirate during the six months the Expo 2020 will be held in Dubai. This fact offers many business opportunities to Indian investors.