DP World declares that company setup costs will be reduced by up to 70 percent.
New investors will now get a 70 percent discount on the costs associated with starting up a business in Jafza Free zone.
DP World, the owner of Jebel Ali Free Zone, revealed that this program aims to reduce business-related costs by between 50% and 70% for registration, licensing and related administrative functions for companies currently operating in Jafza and new investors.
Founded in 1985, Jafza has more than 135,000 employees and is home to companies from 100 countries including Fortune-500 firms. Jafza is also one of the leading free zones in the world specializing in industry, trading, and logistics.
Mohammed Al Muallem, CEO & Managing director of DP World, UAE Region, and CEO of Jafza said the plan is highly significant and in line with the recent call by His Highness Sheik Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai to cut business costs and increase investor experience.
The move would enable over hundreds of new companies to set up their companies in the Jebel Ali Free Zone, the region’s most sought-after free zone’s plug-in and play infrastructure and trade solutions.
The fee cut could well lead other free zones in the UAE to consider taking a similar move.