DUBAI: Jebel Ali Free Zone ( Jafza ), the flagship Free Zone entity of Dubai and the trade and logistics hub for the wider Middle East region, recently held a customer forum on the Fast Moving Consumer Goods (FMCG) and Food Sector in the National Industries Park (formerly known as Technopark).
The FMCG and Food Sector in Jafza saw remarkable growth in the number of companies and the volume of trade in 2015. The development of logistics facilities in the free zone played a vital role, enabling customers to deliver goods quickly with the help of smart applications and efficient customs transactions.
The sector witnessed 7% growth a year over the past five years with over 500 companies from 61 countries around the world operating there. Businesses engaged in the sector come mainly from the Middle East Region (56%), Asia Pacific (17%), Europe (15%) and North America (7%).
Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World and Chairman of Ports, Customs and Free Zone Corporation (PCFC), said: ” “Market trends indicate that the sector will again see major growth given increasing demand for retail space and the opening of new shopping malls which play a vital role in stimulating trade and the marketing of consumer goods.
“The FMCG and Food sector continues to grow at an accelerated pace in the Middle East and North Africa region, with the introduction of new businesses and products. Meanwhile, some existing companies have been expanding their production capacity, adopting the latest technology to increase production and provide high-quality goods. This will allow them to compete in global markets and to help drive the local economy.”
According to Bin Sulayem, population growth, higher income levels, increasing consumer spending, the rising number of tourists and tax-free consumer goods are stimulants to the sector’s development which will inevitably see higher demand for goods given modern lifestyles in the country.
He also noted that PCFC is keen to develop the sector through a variety of measures that will enable companies to grow their business and identify specific markets. He emphasized the need to encourage support for business to attract more foreign investments to the UAE and Dubai which will enhance the competitiveness of the national economy.
