The Fujairah Free Zone Authority (FZA) earned $270 million in foreign direct investments (FI) in 2001, a 25 percent increase compared to investments attracted in 2000. Funds from the Indian subcontinent contributed to 70 percent of the total; Gulf and Asian investments comprised of 18 percent and US investments generated 12 percent.
FZA has over 100 selected companies involving an investment of over 550 million Emirati dirhams, employing over 2,200 people in various types on industries. Free zone clients can benefit from the exemption of customs duties on imports of all commodities and finished products for the purpose of export and re-export outside the United Arab Emirates. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
