Fujairah targets Indian investors at World Free Trade Zones Expo

The authority, that recorded a 26.3% increase in foreign investment in 2001 compared with 2000, will promote its services at the World Free Trade Zones Expo (WFTZE) - the first broad-based, dedicated international exhibition for free zones - to be held in Mumbai, from September 30 to October 2.

'We see this Expo as a vital component of our campaign to further bolster investment in the free zone,' said Sharief Habib Al Awadhi, Director General FFZA. ' It is an ideal forum to highlight the advantages and opportunities for potential investors and to explain the role played by Fujairah's government in supporting investment activities.'

FFZA is looking to business from the Sub continent - that already accounts for 70% of the US$ 300 million invested in the zone - to maintain its rapid expansion. Last year the number of trading offices increased by 35%, compared with 2000, storage and distribution units by 26% and industrial premises by 15%.

'We foresee expansion in small scale industries catering to the service sector. We will be especially targeting service orientated and business logistics companies. The advantages of these industries are that they can be set up in a shorter time frame and yield good revenues,' said Al Awadhi.

FFZA, which will exhibit in the UAE pavilion at WFTZE, was set up in 1987. It employs over 3,500 people in various industries, including assembly, communications and networking, consulting, contracting, distribution, engineering, investments, manufacturing and trading.

WFTZE, will bring together, for the first time, operators, investors and regulators under one roof. It is targeting airport and port free zones, off shore zones, software technology parks, biotech parks, export promotion industrial zones, hardware technology parks, special economic promotion zones, info-media parks and dedicated real estate parks.

Supported by India's federal Ministry of Industry and Commerce, the Maharashtra state government, the India Trade Promotion Organisation and the Software Technology Parks of India, the Expo is also backed by the country's 29 state industry development corporations.

Alongside the show, an industry conference and series of exhibitor seminars will address critical issues including world trade developments, incentives, government policies, investment opportunities, global trade blocks, growth areas, industrial finance, insurance and human resources.

WFTZE 2002 is being jointly organised by Dubai-based International Expo-Consults and DimensionFour (India) Pvt. Ltd. The event is IEC's second joint venture in India, following on from Sign & Graphic Imaging India 2002.