DP World has reduced licence, registration and administration fees up to 70 percent for companies and investors operating in Jebel Ali Free Zone, Jafza, media reports said. The move is in an effort to push ease of doing business in the country.
DP World’s UAE operations contribute more than 33.4 percent of Dubai’s GDP, media reports said. This initiative will enhance the business climate by supporting more than 7,500 businesses in Jafza.
Trade is pivotal to Dubai’s economic development. DP world has played an important role in supporting trade in the country. Mohammed Al Muallem, chief executive and managing director of DP World, UAE region and chief executive of Jafza, told the media, “It’s a timely move to inspire our customers towards pursuing their business targets with greater confidence and purpose. It’s specifically designed to create value and opportunities for the companies to channel their resources to support their activities sustainably,”
It is reported that Jafza represents nearly 23.9 percent of total foreign direct investment flow into Dubai, creating job opportunities for more than 135,000 people. Jafza generated trade worth $93 billion in 2018.
Jafza is one of the top free trade zones in the world and houses more than 7,500 multinational companies. Jebel Ali Port and Free Zone established a multi-modal hub with sea, air and land connectivity.
Last year, free zones were a major factor to driving foreign trade in Dubai. The UAE’s non-oil foreign trade increased by 6 percent to Dh1.37 trillion in 2019 as a result of higher economic activity across the emirate’s free zones.