Sat, Dec 21, 2024 | Jumada al-Aakhirah 20, 1446 | DXB ktweather icon0°C

UAQ free trade zone charts strong growth plan

Northern emirate has announced several investor-friendly measures

Published: Thu 12 Sep 2024, 3:42 PM

Updated: Thu 12 Sep 2024, 3:43 PM

Top Stories

Once considered a calm backwater among the emirates, Umm Al Quwain has recently made rapid strides to transform itself into an investor-friendly destination

The UAQ Free Trade Zone is one of the principal vehicles leading this transformation. The zone is currently developing 350,000 sq ft of warehouses in various sizes, alongside an additional 65,000 sq ft of commercial space. This marks a major leap forward, particularly for businesses reliant on logistics and storage solutions. Each new warehouse will be powered with ample electricity supply, ensuring that businesses across industries have the capacity to run sophisticated operations without interruption.

“One of the standout advantages that the free trade zone offers is corporate tax benefits as a designated free zone, providing businesses with significant financial relief and making it easier to reinvest profits into growth. This is particularly appealing in the current global economic climate. We also provide special concessions at the UAQ seaport, a logistical advantage not all free zones can offer, giving companies better access and cost savings on their imports and exports. Furthermore, UAQ FTZ offers a lifetime establishment card at no additional cost, which is a notable saving for businesses that otherwise have to renew and pay for such services regularly,” Johnson M George, general manager, UAQ FTZ, told Khaleej Times in an interview.

The free zone offers customised and affordable business packages cater to various industries, allowing us to meet the specific needs of startups, SMEs, and larger corporations. “Another key aspect is the availability of real facilities, including land, warehouses, and office space for lease at highly competitive rates—ideal for companies looking to scale up their operations efficiently,” George said. Other value-added services include assistance in corporate tax registration, VAT registration, auditing, visa assistance, legal assistance, wills, and trademark registrations. These services are designed to simplify the process for businesses and ensure compliance with UAE regulations, George said.

The free zone cater to a wide range of industries, including food and beverages, building and construction materials, textiles, medical industry, chemicals, automobiles, oil related, technology related, electrical and electronics.

Companies also benefit from special concessions at UAQ’s seaport, giving them a logistical edge that can make a significant difference in industries dependent on swift supply chain management. “This, combined with our fully serviced industrial land, warehouses, office spaces, and even virtual office options, means we cater to both the physical and virtual needs of businesses, allowing them to scale with ease,” George said.

Johnson M George, general manager, UAQ FTZ

Johnson M George, general manager, UAQ FTZ

Being right beside E311 (Mohammed Bin Zayed Road) is a game-changer, George stressed. “It’s one of the major highways linking all the emirates, offering seamless access not only within the UAE but to the wider GCC region. For sectors like construction, textiles, and food and beverages, that connectivity is priceless — time-sensitive deliveries and international exports become exponentially easier,” he added.

With the increasing number of companies setting up in UAQ FTZ, new labour and staff accommodation facilities are being developed to support the workforce needs. “With our robust infrastructure, including an extensive road network, a reliable water supply, and uninterrupted electricity services, we’re creating an ecosystem where businesses can truly thrive. These advancements cater to a broad spectrum of industries — from logistics to manufacturing to retail — ensuring that they have the resources, facilities, and connectivity they need to succeed. The expansion of our infrastructure elevates our capacity to meet the diverse needs of businesses and attract new players, all while solidifying UAQ FTZ’s standing as a leading logistics hub in the region,” George said.

With an extensive background in corporate and commercial laws, George leverages his expertise at UAQ FTZ to create an environment where investors and businesses can thrive. “My approach focuses on establishing clear and effective guidelines that simplify the business setup process, ensuring that companies can start operations quickly, smoothly, and in full compliance with all regulatory requirements. By staying ahead of evolving regulations, I ensure that our framework remains flexible and responsive, allowing businesses to operate with confidence and seize opportunities,” he added.

George remains bullish on the outlook for UAQ FTZ. “As demand for business facilities within UAQ Free Trade Zone continues to surge, we are poised to expand our infrastructure; cutting-edge office spaces, high-tech industrial facilities, and seamless service enhancements. We are also forging deeper alliances with key stakeholders and banking partners, delivering support and resources to empower our clients,” he added.



Next Story