Dubai’s Jebel Ali Free Zone (Jafza) recorded a 19 per cent year-on-year increase in trade to Dh454.7 billion ($123.8bn) in 2021, as its proximity to Jebel Ali Port and Al Maktoum International Airport helped the free zone to facilitate the flow of goods during a challenging year.
The free zone, operated by DP World, registered an increase in trade despite ports worldwide facing congestion because of Covid-related lockdowns and other restrictions, it said in a statement on Wednesday.
Jafza also recorded an increase of nearly 19 per cent in the number of new companies registered in 2021, bringing the total to more than 9,000.
More than 25 per cent of new companies were in retail and general trading, the highest representation in Jafza.
This was followed by companies in the electronics and electrical sector with a nearly 10 per cent increase, and the vehicle and transport sector which had a more than 9 per cent rise in numbers.
Sectors in the free zone that recorded "significant improvements in trade" include the electrical and machinery sector, followed by construction materials, consumer electronics, and auto parts and spares.
The trade growth is especially significant "considering the challenges that reshaped global supply chains", said Abdulla bin Damithan, chief executive and managing director of DP World UAE and Jafza.
"Even as the pandemic disrupted trade operations, we succeeded in maintaining business continuity for our clients and us because of our investments in technology and advanced infrastructure," he said.
"These enabled smooth operations and placed us ahead of our competition. Building on our success, we will continue investing in digital platforms alongside our partners to ensure seamless cargo flows.”
The UAE has been boosting its trade volumes as it rebounded strongly from the pandemic-induced slowdown on the back of government measures and higher oil prices.
The country's non-oil trade rose 17 per cent to about Dh1.053 trillion in the first half of the year, from the same period in 2021, according to government data.
This is the first time the country's non-oil trade exceeded Dh1tn, the data showed.
In June, Jafza also opened Yiwu Market, the first smart free zone market in the Middle East, which was set up in line with the UAE's aim to facilitate trade by easing supply chain shortages after the pandemic.
Catering to the retail and wholesale industries, it is part of the first phase of the Dubai Traders Market, a 550-hectare marketplace within Jafza.
Jafza also offers Dubai Trade, an integrated e-platform for traders and logistics companies, which allows them to access data from the global supply chain.
The digital service provides information related to various commodities from production sources and offers instant quotes to help cargo owners secure the best deals.
DP World, one of the world's largest port operators, posted a record profit in the first half of 2022, driven by growth in cargo.
Profit attributable to owners of the company, before separately disclosed items, increased 52 per cent in the first six months to June to $721 million from $475m in the first half of 2021.
The company handled 39.5 million TEU (twenty foot equivalent units) across its global portfolio of container terminals in the first half of this year, up more than 2 per cent annually, as global trade picked up.
UAE currency: the story behind the money in your pockets
Company profile
Name: Infinite8
Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
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Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
UAE currency: the story behind the money in your pockets
The specs
Engine: 2.0-litre four-cylinder turbo
Power: 268hp at 5,600rpm
Torque: 380Nm at 4,800rpm
Transmission: CVT auto
Fuel consumption: 9.5L/100km
On sale: now
Price: from Dh195,000
Global state-owned investor ranking by size
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Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Federer's 19 grand slam titles
Australian Open (5 titles) - 2004 bt Marat Safin; 2006 bt Marcos Baghdatis; 2007 bt Fernando Gonzalez; 2010 bt Andy Murray; 2017 bt Rafael Nadal
French Open (1 title) - 2009 bt Robin Soderling
Wimbledon (8 titles) - 2003 bt Mark Philippoussis; 2004 bt Andy Roddick; 2005 bt Andy Roddick; 2006 bt Rafael Nadal; 2007 bt Rafael Nadal; 2009 bt Andy Roddick; 2012 bt Andy Murray; 2017 bt Marin Cilic
US Open (5 titles) - 2004 bt Lleyton Hewitt; 2005 bt Andre Agassi; 2006 bt Andy Roddick; 2007 bt Novak Djokovic; 2008 bt Andy Murray
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
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RACE CARD
6.30pm: Al Maktoum Challenge Round-3 – Group 1 (PA) $65,000 (Dirt) 2,000m
7.05pm: Handicap (TB) $65,000 (Turf) 1,800m
7.40pm: Meydan Classic – Listed (TB) $88,000 (T) 1,600m
8.15pm: Nad Al Sheba Trophy – Group 3 (TB) $195,000 (T) 2,810m
8.50pm: Dubai Millennium Stakes – Group 3 (TB) $130,000 (T) 2,000m
9.25pm: Meydan Challenge – Listed Handicap (TB) $88,000 (T) 1,400m
If you go...
Flying
There is no simple way to get to Punta Arenas from the UAE, with flights from Dubai and Abu Dhabi requiring at least two connections to reach this part of Patagonia. Flights start from about Dh6,250.
Touring
Chile Nativo offers the amended Los Dientes trek with expert guides and porters who are met in Puerto Williams on Isla Navarino. The trip starts and ends in Punta Arenas and lasts for six days in total. Prices start from Dh8,795.
How to donate
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
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UAE currency: the story behind the money in your pockets
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
