Jafza set to increase investment from Singaporean companies

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Jebel Ali Free Zone Authority (Jafza) expects to attract significant investments from Singaporean companies following its participation in the seminar titled, ‘Dubai – New Business Opportunities Ahead’ to be held on May 26th 2005 in Singapore. The event is focussed on small and medium enterprises and will draw more than 100 companies looking to explore business opportunities in Dubai.

The one-day seminar is being organised jointly by the Government of Dubai and the Far East office of the Department of Tourism and Commerce Marketing (DTCM).

Abdullah Al Banna, Marketing Manager, Jafza, who will be representing Jafza at the event, said: “This focused seminar follows the economic pact signed between Singapore and UAE earlier this year, that could lead to a full-blown free trade agreement between the two countries and further strengthen our economic ties. By our participation in the event we are certain to attract a large number of Singaporean companies to Jafza, adding to their strong presence in the free zone at present.”

“There are ample investment opportunities for Singaporean companies in Jafza in various industries like electronics, oil and gas, petrochemicals and construction related services and goods,” he added.

During the seminar, Abdullah Al Banna will give a detailed presentation on the various incentives for Singaporean companies investing in Jafza and highlight the key business advantages of establishing operations at the free zone.

Of the several Singaporean companies registered with Jafza, 70 per cent of them are in the metals, jewellery and precious stones sector, while electronics, heavy machinery and oil and chemical companies make up the rest.

Boustead Controls and Electrics, which is involved in providing technical support and trading of safety and control systems for the oil and gas industry and Portek Middle East, which is into trading of port terminal handling cranes, industrial plants and machinery and oilfield equipments, are among the several leading Singaporean companies established in Jafza.

“The seminar will serve as an ideal platform for leading Singaporean investors to tap the business potential of Dubai and target the lucrative markets of the region. Companies setting up operations in Jafza will be able to take full advantage of the advanced infrastructure facilities and support services at the free zone. Moreover, the increase in the number of Singaporean firms in Dubai will benefit both countries and contribute in enhancing bilateral relationship,” concluded Al Banna.

© 2005 Al Bawaba (www.albawaba.com)