Monday 5, August 2002
Vol 1 - Issue 04

Fujairah FZA attracts $270m foreign investments

Fujairah Free Zone Authority (FZA) attracted $270 million foreign investments by the end of last year, recording an increase of up to 25 per cent over the previous year. Indian subcontinent share is estimated to be at 70 per cent, local, Gulf and Asian share is around 18 per cent, while Europe and the US account for 12 per cent. FZA is also planning to launch a promotional campaign to further bolster foreign investments by demonstrating the advantages and opportunities available for potential investors and explaining the role that Fujairah governmental departments can play in supporting investment activities.

posted 5^th August 2002

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HFZ to invest Dh180m for inner harbour expansion

Hamriyah: The Hamriyah Free Authority is investing Dhs180 million for the inner harbour development project, which calls for construction of a total quay of 5.5 kilometres. The depth will range from five to seven metres and width of the water basin will be at 350 metres. The new harbour is expected to attract more investors to the free zone and more marine industries are believed to start businesses at Hamriyah HFZ after its inception. Presently, 200 companies from 17 countries are operating from HFZ, which offers lease for up to 25 years.

posted 5^th August 2002

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