Businesses in Fujairah Free Zone increase

A total of new 117 companies began operations in the Fujairah Free Zone in 2004, an increase of 30 per cent over 2003, an official said.

"The low costs incurred by investors when setting up businesses in our zone; the diversity of facilities, support and services they get from the government of Fujairah; our skilled marketing of the zone - these are among the factors behind the free zone's remarkable performance last year," said Shaikh Saif Bin Hamad Bin Saif Al Sharqi, Chairman of the Fujairah Free Zone Authority.

The increase in business can be attributed to the wise vision of Shaikh Hamad Bin Mohammad Al Sharqi, Member of the Sup-reme Council and Ruler of Fujairah, said Shaikh Saif.

The continuous support and supervision of Shaikh Saleh bin Mohammad Al Sharqi, Chairman of the Fujairah Department of Industry and Economy, has also been critical, said Shaikh Saif. "We'll keep working according to our plan aiming to increase the capacity of the zone in terms of warehouses, manufacturing plants and trading offices," Shaikh Saif said.

The zone's performance and turnover made 2004 its best year yet, especially in terms of the new types of companies the quality of products on offer and total revenues, he said.

"The recent decision to manage and operate the container terminal of the Port of Fujairah by Dubai Ports International [DPI] will be useful to the Fujairah Free Zone. This upgrade represents an extra asset," he said.

"We are becoming more mature and experienced in attracting more investors and businesses from all over the world to the zone.

"The wide range of services and facilities offered by the government of Fujairah are also important," said Shareif Habib Al Awadi, Director-General of the Fujairah Free Zone Authority.

The latest batch of zone registrants includes companies involved in manufacturing and recycling, logistics and light and medium-sized industrial factories, among others, he said.

"We are looking to bring in various types of industrial projects to the zone.

"We want it to have a strong industrial infrastructure, so we can attract heavy industrial projects as well as multi-purpose ones plus ancillary establishments," said Al Awadi.

The increase reported in the number of companies set up in the zone last year contributed to a related rise in the zone's turnover. It surged to over Dh1.2 billion, compared to Dh1 billion in 2003.

The brisk business in the zone has also stimulated Fujairah's service industry.

Its real estate industry has also grown, for example.

Fujairah has seen the construction of a large number of new residential and commercial buildings to provide space for the new companies locating in the area.

Key data
Nationals comprise 40% of free zone employees