Free zone focus
Ajman now boasts the second largest free zone in the UAE after Jebel Ali, with a total of 460 firms, 131 of which joined last year. The zone's area has been expanded to one million sq m.
Ajman's success is attributed to the following factors: leasing rates are 50 per cent less than others; living cost is lower; strategic location by Ajman port; a range of tailormade services; energy availability at competitive rates and efficient infrastructure. Among its major projects started in 1999 are:
Dafza shortlists 15 firms
The Dubai Airport Free Zone Authority (Dafza) has shortlisted 15 companies from a list of 300 applications for licence to operate out of the free zone, said Dr Mohammad Al Zarouni, director (administration and research).
The companies are global dealers in jewellery, diamonds, crystal, cosmetics, electronics and computer industry, he added.
The total number of companies operating out of the Dubai Airport Free Zone has gone up to 50, following three new companies from Austria starting operation.
The zone is targeting high-tech and less labour-intensive investment. The latest companies are Voest-Alpine Steel Middle East FZE; VA Tech International and Med-El Medical Electronics.
In another development, the Dubai Airport Free Zone has signed a memorandum of understanding with Berlin Free Zone Brandenburg International, to cooperate in several trading activities.
Saif's new premises
Shaikh Tariq bin Faisal Al Qassimi, chairman of the Sharjah Free Zone Authority, has inaugurated a new premises for workshops and warehouses in the Sharjah International Airport Free Zone (Saif Zone). The workshops and warehouses, which were previously scattered over various areas of the zone, have been brought together in the new premises as part of a planned developments to offer upgraded services under one roof.
Saif has also signed a contract with a specialised company for GIS (geographical information system) solutions for designing and implementation of its GIS project. Meanwhile, an open electronic library has opened at Saif.
Bahrain 'already a free zone'
Commerce Minister Ali Saleh Al Saleh said there is no plan for a specific area of Bahrain to be earmarked as a free trade zone as the country was already a free trade zone. "There is no discrimination against foreign investors in setting up their projects, the choice of location, the type of commercial activities they exercise or the taxes levied," he said.
UAE and Syria sign agreements
The UAE and Syria have signed agreements to establish a free trade area between the two countries and strengthen economic cooperation.
