ID :
26966
Tue, 10/28/2008 - 12:56
Auther :
Shortlink :
https://oananews.org//node/26966
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Dubai Airport Free Zone records 84% increase in net profit
Dubai, Oct 28, 2008 (WAM) - H.H Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of the Dubai Airport Free Zone, said that Dubai has become more attractive to international investments during the global financial crisis and this critical stage that the markets are currently experiencing.
Sheikh Ahmed added that free zones in the country, Dubai Airport Free Zone in particular, now serves as key attraction with the increasing number of companies seeking to launch their operations in Dubai Airport Free Zone to extend their business and activities across the region.
''The current global financial crisis has resulted in a slowdown in economic growth in several countries. This is bound to lead companies to search for a safe location away from the crisis in their search for stability and to escape the current crisis," Sheikh Ahmed added.
''The UAE offers a strong and stable economic environment and the possibility of stable growth, especially across free zones which aim to attract international inward investment.
''The free zones in the country have long experience and unique systems in place, and are ready to accommodate international companies and offering the required facilities and services to help achieve their business targets in a stable environment.
Sheikh Ahmed added that Dubai Airport Free Zone has achieved high growth rates in 2008 as occupancy for international companies increased by 58% leading to 84% increase in net profits and 59% in revenues compared to 2007.
He noted that these growth rates will continue given the current expansion plans which have allocated Dhs2bn for investment in new facilities to be ready for more foreign investment flow in the near future.
Despite space-limitations, Dubai Airport Free Zone has made optimum utilization to provide more spaces for international companies and organizations.
Sheikh Ahmed also referred to the vital role Dubai Airport Free Zone plays in adding considerable value to the national economy, and Dubai's economy in particular. It focuses on attracting outstanding companies in different service sectors run by a professional team which has led to real growth in the emirate's economy.
From the beginning Dubai Airport Free Zone was very clear on the type of companies they wanted to attract and their primary focus was the service industry as well as companies trading in high-value '&' low-volume products.
Sheikh Ahmed added that Dubai Airport Free Zone, which has more than 1500 international companies in different sectors such as, aviation industry, automobile, freight forwarding '&' logistics, telecommunication, electronics, jewellery '&' watches, precious stones, computer '&' accessories, pharmaceuticals '&' cosmetics, etc, has been the ideal location for such companies.
He said: 'We will continue this growth pattern and our strategy in attracting international companies and catering to their needs to achieve mutual economic interests.' Dubai Airport Free Zone will continue with its expansion plans to accommodate more companies as the outer Ring Project has been completed with six additional buildings to accommodate more than 900 companies in addition to the head office building.
The new Eastland project, commencing next year with a number of buildings for commercial, residential and business purposes, hotels and business centre, represents an important link in the completion of the Dubai Airport Free Zone project.
Sheikh Ahmed noted that the government initiative to support the financial system and local '&' international banks in the country in addition to securing deposits through pumping huge cash amounts, around Dhs70bn, reflects the strong local economy and its ability to deal properly in the right time.
Major international investors and companies have been assured with this magnificent initiative launched by H.H Sheikh Khalifa Bin Zayed Al Nahyan, UAE president, and H.H Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai.
Sheikh Ahmed added that free zones in the country, Dubai Airport Free Zone in particular, now serves as key attraction with the increasing number of companies seeking to launch their operations in Dubai Airport Free Zone to extend their business and activities across the region.
''The current global financial crisis has resulted in a slowdown in economic growth in several countries. This is bound to lead companies to search for a safe location away from the crisis in their search for stability and to escape the current crisis," Sheikh Ahmed added.
''The UAE offers a strong and stable economic environment and the possibility of stable growth, especially across free zones which aim to attract international inward investment.
''The free zones in the country have long experience and unique systems in place, and are ready to accommodate international companies and offering the required facilities and services to help achieve their business targets in a stable environment.
Sheikh Ahmed added that Dubai Airport Free Zone has achieved high growth rates in 2008 as occupancy for international companies increased by 58% leading to 84% increase in net profits and 59% in revenues compared to 2007.
He noted that these growth rates will continue given the current expansion plans which have allocated Dhs2bn for investment in new facilities to be ready for more foreign investment flow in the near future.
Despite space-limitations, Dubai Airport Free Zone has made optimum utilization to provide more spaces for international companies and organizations.
Sheikh Ahmed also referred to the vital role Dubai Airport Free Zone plays in adding considerable value to the national economy, and Dubai's economy in particular. It focuses on attracting outstanding companies in different service sectors run by a professional team which has led to real growth in the emirate's economy.
From the beginning Dubai Airport Free Zone was very clear on the type of companies they wanted to attract and their primary focus was the service industry as well as companies trading in high-value '&' low-volume products.
Sheikh Ahmed added that Dubai Airport Free Zone, which has more than 1500 international companies in different sectors such as, aviation industry, automobile, freight forwarding '&' logistics, telecommunication, electronics, jewellery '&' watches, precious stones, computer '&' accessories, pharmaceuticals '&' cosmetics, etc, has been the ideal location for such companies.
He said: 'We will continue this growth pattern and our strategy in attracting international companies and catering to their needs to achieve mutual economic interests.' Dubai Airport Free Zone will continue with its expansion plans to accommodate more companies as the outer Ring Project has been completed with six additional buildings to accommodate more than 900 companies in addition to the head office building.
The new Eastland project, commencing next year with a number of buildings for commercial, residential and business purposes, hotels and business centre, represents an important link in the completion of the Dubai Airport Free Zone project.
Sheikh Ahmed noted that the government initiative to support the financial system and local '&' international banks in the country in addition to securing deposits through pumping huge cash amounts, around Dhs70bn, reflects the strong local economy and its ability to deal properly in the right time.
Major international investors and companies have been assured with this magnificent initiative launched by H.H Sheikh Khalifa Bin Zayed Al Nahyan, UAE president, and H.H Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai.
