The administration of the free zone of Jebel Ali (JAFZA) and the General Directorate of Foreign Affairs and Residency, signed an agreement that is aimed at improving and speeding up the process of issuing visas for people working in the large business hub of the emirate, and in the National Industrial Park. As it was declared, “the time required for issuing visas and performing all related operations will be reduced to 24 hours.”
Under this agreement, the Directorate General of Foreign Affairs and Residency will provide “improved services” to companies that operate in JAFZA and the National Industrial Park. It is expected that the new initiative will affect more than 150,000 employees who work in at least 7,500 companies. The signed agreement is also aimed at increasing the productivity of companies operating in the free zone and industrial park.
It should be noted, that Jebel Ali (JAFZA) attracts more than 20% of all foreign direct investment coming to the UAE. Its residents are thousands of companies, many of which serve the largest markets in the region and the world as a whole. According to recent data, the volume of trade between residents of JAFZA and India in 2017 amounted to more than 3.4 billion US dollars. The volume of trade of companies involved in automotive and spare parts production in 2017 was estimated at 39.5 billion dirhams.
DP World’s leadership suggests that “simplifying business processes leads to increased efficiency and productivity of companies and employees.” This new step (agreement) marked the transition to a new phase of cooperation between business and the General Directorate of Foreign Affairs and Residency.
The Emirates free zones have serious competition, which continues to grow.
However, JAFZA is also expanding to withstand ever-increasing competition. The free zone launched a number of projects that should support the position of JAFZA as one of the world’s leading free zones, attracting businesses from around the world. In the next five years, significant growth is expected due to the economies of Asia, Europe and the America.
Among the new projects is a multi-storied warehouse with 500 units near the World Expo 2020 venue, a new complex for light industrial installations providing a supply system and a logistics sector, as well as a residential complex for 30 houses for about 30,000 employees, it will also include restaurants, shops and recreation areas.
It should be added, that Dubai’s industrial strategy intends to reduce the dependence of the emirate on imports and foreign trade which will be a very favorable innovation for free zones of the country.