Chancellor Schroeder briefed on region's first-ever technology manufacturing hub - Dubai Silicon Oasis - during visit to Airport Free Zone

Also present were Dr. Khalifa Mohammed Ahmed, Chairman, HH Ruler's Court of Dubai; Ali Mohammed Al-Zarouni, UAE Ambassador to Germany; Dr. Mohammed Al Zarouni, Director General, Dubai Airport Free Zone Authority and CEO, Dubai Silicon Oasis; the German consul general and related diplomatic staff; members of DAFZA and DSO senior management; and managing directors from leading German companies in the free zone.

Welcoming Chancellor Schroeder, HH Sheikh Ahmed stated, 'Dubai and Germany have reached an extremely promising stage in their trade relationship, and we're delighted that Chancellor Schroeder has taken a keen interest in the Airport Free Zone and its Dubai Silicon Oasis development.'

As part of the visit, Dr. Mohammed Al Zarouni gave the European leader a detailed explanation about Dubai Silicon Oasis's proposed facilities, spread over a six million square metre capacity, via a land-use model. Dr. Zarouni highlighted the 15-year vision for the technology-centric industrial park, including research and development centers, state-of-the-art design centers, fabrication plants, educational facilities, and residential elements.

Of particular interest to the German delegation were the forecasts that the DSO could ultimately add up to 10 percent to Dubai's GDP, potentially garnering more than USD $10 billion in direct investment. DSO is a global collaborative initiative under the leadership of the Dubai Airport Free Zone Authority and is on course to become a world-class technology park encompassing microelectronics- and optoelectronics-related enterprises.

Chancellor Schroeder expressed significant interest in the initiative, and his attention shown to the DSO project demonstrates that it's an initiative well worthy of recognition by the world's leading economies.

'DSO continues to elevate Dubai's status as a premier technology destination and an attractive foreign investment environment,' commented Sheikh Ahmed.

'As the world's first complete electronics supply chain in one location - from design to concept - the DSO has demonstrated vast potential for the semiconductor industry. Chancellor Schroeder's visit evidences the mind-share that the DSO is generating among decision-makers from the US, Europe, and Asia-Pacific regions,' noted Dr. Zarouni.

Analysts Back Semiconductor Market Surge
Increased foreign interest in the DSO comes at a time when the global semiconductor market is showing signs of a robust recovery. Market research firm Gartner Inc. recently estimated that the worldwide semiconductor sector would grow by more than 8 percent to reach $168 billion by the end of 2003.

To capitalize on that expected growth, the DSO is currently completing its master infrastructure and land use plan before breaking ground on the high-tech industrial park. The DSO recently marked its one-year anniversary since inception, when HH Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defense Minister, announced the DSO development as a vital new element of Dubai's economic diversification strategy.

'Dubai has already developed compelling trade and tourism links with Germany. We hope that Chancellor Schroeder's visit will further advance the technology and investment opportunities being created between Dubai and Germany's business communities,' Dr. Zarouni concluded.