China to invest US$4bn in UAE logistics projects
Chinese companies are set to invest more than US$4bn in logistics projects in Dubai and Abu Dhabi according to the UAE’s president of the National Association of Freight and Logistics (NAFL).
Nadia Abdul Aziz, president of NAFL, said: “Logistics business is in for a boom. Many projects are being built for Expo 2020 and Chinese investors are coming to Abu Dhabi and Dubai. There will be large logistics parks in Jebel Ali and one near the Expo venue.
“One is for food processing and the other is for manufacturing and exporting. There will be US$4 billion investment by Chinese companies. Abu Dhabi will also have a huge logistics project that will boost the trading sector in the UAE.”
NAFL’s strategy is to encourage young students to join the growing sector while focusing on training UAE nationals, in line with the UAE strategy.
As part of it, the association offers scholarships for UAE nationals in the freight industry courses.
Andrea Colo, sales manager of Dubai South, stated: ““We are offering an office space, admeasuring 60 sq m, to operate from there and offering dual licensing, a facility to register a free zone company without any local sponsor.
“If they have a mainland company they can operate from the free zone, which means they need not have two companies. There is the possibility to combine all together under one roof, thus cutting the cost of running two companies.”
Colo added: “We are also offering three months grace period on the first year rent, which is almost 25% discount. The rent can be paid in four instalments.”
Roula Mezher, representative of the Lebanese Forwarders Syndicate, called for NAFL members to use Beirut as their hub to grab reconstruction business in Syria and Iraq.