Since the dawn of globalisation, trading centres around the world have sought to enhance their competitiveness in the form of Special Economic Zones, of which today there are almost 6,000. In today’s market, companies are not only required to consider how a free zone may support their business, but how they can react to an ever-changing landscape tomorrow.
Established almost 40 years ago, JAFZA’s location, connecting east to west remains a strategic advantage, however its environment also plays a significant role in attracting and retaining customers. Beyond its financial incentives, JAFZA has succeeded in providing a blank canvass for companies to improvise in the form of warehouses, plots, showrooms, and office spaces, while remaining highly connected to four international airports, transnational highways, and the region’s largest port. In doing so, customers are given full license to meet their operational and corporate needs, while remaining directly connected to a consumer base of almost four billion.
In seeking out collaboration with other local organisations, JAFZA extends an increasing number of value-added benefits, including access to inventory financing, certified storage facilities, travel-related incentives, and competitive export insurance services. It is this ability to understand the challenges its customers face, which has differentiated it from the competition, particularly during the pandemic, where its incentive support programme included a 70 per cent reduction in registration, licensing, and admin fees, deferred rental payments and free utilities.
As a result, JAFZA not only weathered the pandemic, but excelled witnessing 19 per cent year-on-year growth in both trade and new registrations.
Today, it’s focus on consolidating trade continues in the form of Dubai Traders Market, which enables new and existing customers transiting through Dubai the opportunity to access global wholesalers from around the world under one roof, while its launch of the first smart free zone market in the Middle East provides access to affordable Chinese products, helping to ease supply chain shortages.
Catering to increased demand, its Logistics Park, which is expected to be delivered next year, will provide an additional 46,000m2 of total leasable area, of which 87 per cent is allocated to warehousing.
While remaining highly committed towards global challenges such as food security and ecological preservation, JAFZA‘s sustainability strategy, Our World, Our Future aligns with the UN’s Sustainable Development Goals, while working in partnership with the Blue Marine Foundation, Logistics Emergency Teams, and IMPACT2030.
As the UAE’s non-oil foreign trade exceeds one trillion dirhams in H1 2022, JAFZA is not only an innovative and resilient environment, but a centre for trade whose customers are doubling in capacity and in some cases, witnessing growth rates close to 300 percent.
In today’s economy, a free zone’s competitiveness isn’t just about its location or environment, but its agility to create new catalysts for success, while offering refuge from uncertainty. In this, JAFZA has successfully harnessed the vision not just of a nation, but a globalised economy that requires future demand being met today.
For more information visit www.jafza.ae
