DAFZA highlights substantial investment prospects for Singaporean firms during seminar

UAE, June 29, 2016- Dubai Airport Freezone Authority (DAFZA) has recently concluded a seminar in Singapore, considered one of Asia’s top financial centers, to sustain key efforts to attract local investors to Dubai and build robust ties with the Southeast Asian country’s growing business community. Held in collaboration with the Singapore Business Federation, the seminar featured DAFZA’s wealth of incentives and benefits designed to support global businesses seeking to establish a strategic market footprint in the emirate of Dubai and the rest of the MENA region. It also served as an interactive platform to highlight Dubai’s continuing progress to become one of the world’s leading business hubs. 

Several business meetings with Singaporean companies took place after the seminar titled ‘Dubai: Where Global Businesses Meet.’ The forum was conducted to open doors for leading Singaporean firms to explore the benefits of building their presence in the Freezone. This move is seen to significantly increase the number of Asia-Pacific companies currently operating in DAFZA.

Singaporean firms, which are among the most active Asia-Pacific exporters to Dubai, are among the top countries in DAFZA’s Asia-Pacific companies. Singaporean companies from high-value industries, including electronics, jewelry and precious stones, food and beverages, pharmaceuticals, nutrition and medical products, and automobiles, are operating in DAFZA to date.  DAFZA has been holding seminars in the Southeast Asian nation to present opportunities for Singaporean businesses looking to bring their global operations to the Arab markets.  Among the points taken up are Dubai’s economic milestones, the positive business impact of the upcoming World Expo 2020, and DAFZA’s competitive edge, premium services, state-of-the-art facilities, strategic location, and business-friendly policies.

Jamal Bin Marghoob, Director, Marketing and Corporate Communications at DAFZA, said: “DAFZA supports Dubai’s transformation into an investment-driven economy according to the government’s initiative to diversify its economy away from oil dependence and establish diverse sources of income. The recently concluded seminar was another fundamental initiative to promote strong cooperation between the Freezone and Singapore’s flourishing business community. The event served as an ideal platform to highlight Dubai as a destination of choice among global investors and entrepreneurs planning to expand in the MENA region. Furthermore, we had an opportunity to discuss our offerings and prominent role in terms of helping enhance their respective businesses in Dubai. Through this latest forum, we are confident that we successfully attained our goal of furthering DAFZA’s relations with Singapore’s business community.”

The Freezone continuously attracts global investors thanks to its many key incentives, including 100 per cent tax exemption and foreign ownership; zero currency restrictions; business-friendly regulatory environment; employee sponsorship; a single-window convenience for administrative services; round-the-clock customs services and rapid cargo clearance; and dedicated logistics services and assistance.