Jafza to see over 20% growth of Chinese firms

Jebel Ali Free Zone (Jafza), the flagship free zone operation of Economic Zones World (EZW), received strong response from leading Chinese multinationals for the Middle East region during its recently held 10-day roadshow in China. Eight large Chinese Groups, having annual turnover in excess of $5 billion, have shown their definite interest in setting up their base in the Free Zone to access the region. The roadshow was led by Talal Al Hashimi, Managing Director, EZW, UAE Region and comprised of Adil Al Zarooni, Senior Vice President, EZW Global Sales, Khalid Ahmed Al Marzooqi, Regional Manager, Asia Pacific and Jeffrey XLYU, China Market Executive, Jafza Global Sales. Looking at the industry response and overall success of the roadshow we expect some big names to join the Free Zone in near future, said Adil Al Zarooni, Senior Vice President, EZW Global Sales. “We expect over 20 per cent growth in the number of Chinese companies in the Free Zone this year,” he further added. Talal Al Hashimi said: “We saw strong interest in Chinese multinationals from diverse sectors — from oil & gas, construction to electronics — for the Middle East markets and Jafza as a hub to serve the region. The overwhelming interest from Chinese multinationals in the West Asian and African markets underlines the shift in the world’s second largest economy’s strategy to diversify its market base from the US and Europe to developing region’s like the Middle East.” Jafza conducted roadshow in 5 major cities in China including Beijing, Shanghai, Foshan, Hangzhou and Tianjin. Jafza team visited China National Petroleum Corporation (CNPC) headquarters and met their senior executives including the President of CNPC Middle East. CNPC is the 2nd largest company in the world in terms of market capitalisation. Jafza team visited the head offices of more than 15 leading companies including some Global Fortune 500, who have shown keen interest in the region and in Jafza.