DUBAI’S DECISION IN 1985 TO BUILD THE JEBEL ALI TRADE ZONE AS PART OF AN EFFORT TO LESSEN ITS ECONOMIC DEPENDENCE ON OIL PRODUCTION HAS PROVED TO BE A GOOD ONE NOW THAT THE ZONE INCLUDES THE 13TH BUSIEST PORT IN THE WORLD AND SERVES AS A GATEWAY FOR TRADE WITH THE MIDDLE EAST, INDIA AND PARTS OF AFRICA, SAID MICHAEL MUADDI, THE ZONE’S MANAGER FOR THE AMERICAS, IRAN AND CIS REGION.
THE ZONE HAS ATTRACTED $1.6 BILLION IN FOREIGN INVESTMENT SO FAR, MR. MUADDI SAID DURING A PANEL DISCUSSION AT THE METRO ATLANTA CHAMBER OF COMMERCE ON MAY 1 ABOUT INVESTING IN DUBAI, THE SECOND LARGEST OF THE SEVEN UNITED ARAB EMIRATES.
DURING THE DISCUSSION, RAIMUNDO MEJIA, PRESIDENT OF ATLANTA-BASED SEYDEL INTERNATIONAL CORP., PRAISED DUBAI’S FOREIGN INVESTMENT INCENTIVES, SKILLED LABOR, WELL-DEVELOPED INFRASTRUCTURE AND LOW COSTS OF PRODUCTION IN THE FREE ZONE. HE SAID THAT SEYDEL ALREADY HAS A DISTRIBUTION CENTER THERE, AND IS LOOKING INTO THE POSSIBILITY OF ADDING A MANUFACTURING SITE.
RICK BISIO, DIRECTOR OF INTERNATIONAL DEVELOPMENT AT AMERICA’S FAVORITE CHICKEN CO., ALSO OF ATLANTA, SAID HIS COMPANY HAS A REGIONAL OFFICE IN JEBEL ALI AND PLANS TO OPEN FRANCHISES THROUGHOUT THE MIDDLE EAST.
HE ADDED THAT HE FOUND BUSINESS PEOPLE MORE WILLING TO DO BUSINESS WITH THE COMPANY IN THE MIDDLE EAST THAN IN ASIA.
THE JEBEL ALI FREE ZONE OFFERS FOREIGN COMPANIES 100% OWNERSHIP, A GUARANTEE OF 15 YEARS OF FREEDOM FROM A CORPORATE TAX, AND AN ABSENCE OF LABOR UNIONS AS ENTICEMENTS TO OPEN THEIR REGIONAL HEADQUARTERS IN THE ZONE.
FOR MORE INFORMATION, CALL NANCY GREGORY OF THE METRO ATLANTA CHAMBER OF COMMERCE AT (404) 586-8476.