Dubai Airport Freezone sees growth return

The indrease came as a result of considerable expansion in office space by major European and American companies based in the Free zone.

H.E Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of the Dubai Airport Freezone, said that "The Freezone''s contribution to GDP, for Dubai has exceeded 2.2% in 2007 assuring the importance of free zones to attract foreign investment and boost the local economy.Shiekh Ahmed also said that the "Freezone results in 2009 gives a positive indication about the emirate''s ability to achieve good results during the coming period and also indicates increasing willingness of foreign firms to operate from Dubai."

"It is no doubt that the global financial crisis has affected the world economic activities, but free zones around the world and in particular Dubai Airport Freezone has benefited great deal from these exceptional circumstances and turned them into positive opportunities opening its doors to foreign companies seeking to expand their markets to distribute their products in the Middle East and beyond."

He added that the Freezone provides many advantages and incentives that meet the needs of foreign companies.Sheikh Ahmed said that the Freezone is expanding its capacity due to increasing demand.

"Expansion plans in 2010, which is to provide extra office spaces, is on track. The project, West Wing No 7 is near completion.

He said that the Dubai Airport Freezone has been able to achieve the objectives of its establishment as it attracted many global companies in 2009. These global companies represented more than 20% of the total registered companies, such as Hubbell Incorporated from the U.S. Symriyse from Germany, Saqem Communication from France and Idemitsu Lube from Japan, bringing the number of registered companies in the Freezone to 1490 companies.

"The Dubai Airport Freezone plays a vital and strategic role in attracting international companies that support our drive for knowledge-based economy. Dubai Airport Freezone focuses on attracting qualitative investments that add value to the economy of Dubai as a whole," `Sheikh Ahmed said.

European companies in the Freezone represent 34% of the operating companies in various sectors, while U.S. companies represent 8%. Japanese companies had shown remarkable presence during the year 2009 increasing their number by 130%.