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UAE Free Trade Zones - Research Paper Example

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UAE Free Trade Zones (Author’s name) (Institutional Affiliation) Introduction Free Trade Zone is not a novel conception. It is in any case as old as civilizations of the West, having subsisted in 300 BC in the Delos a Greek island, which thus turned into one of the richest islands in the planet for almost a century…
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UAE Free Trade Zones
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UAE Free Trade Zones

Download file to see previous pages... They advance fiscal improvement by drawing investment and creating employment and overseas exchange income. Without a doubt, the zone conception is so dominant, that to a greater extent nations are distinguishing a novel exemplar of Free Zones. Whilst the old Free Zone was time and again illustrated as stationary, labor-demanding, motivation driven, the novel zone model is a dynamic investment demanding, one that is administration driven, facilitating an incorporated fiscal development device. In the UAE, the initial Free Zone at Jebel Ali came into being in 1985 and made available intercontinental businesses and firms a focus, which linked the East and the West and stretched out the prospects of their maneuvers (UAE Government, 2008). Nowadays there are over 24 Free Zones in the UAE offering first-rate amenities and communications for carrying out business and most significantly are industry detailed in nature. Abu Dhabi Airport Free Zone The Airports Company of Abu Dhabi is setting up Abu Dhabi Airport Free Zone also referred to as ADAFZ. It is a commerce and logistics park, to be functioned as a free zone (UNDP, 2002).With Abu Dhabi having the largest population in the UAE, as shown in the chart below, it becomes suitable for setting up of the Free Trade Zone. Figure 1: UAE population figures by the Emirates Source: http://adafz.ae/images/adafza-brochure.pdf Every justifiable logistics actions apart from banking are permissible in the park, conditional on the observance to the surroundings, health and safety necessities. As the park is located near the suburban region, all actions ought to be friendly to the environment. An investor ought to encompass a let out amenity to acquire the license to work from the park. There are straightforward and proficient measures for handling of cargo and authorization. ADAFZ is working together closely with Ports Company of Abu Dhabi for haulage of commodities from the park. There are no explicit restrictions of labor. However, the visa will be given out founded on the approval of the government. Once the imbursement is completed in conjunction with the obligatory credentials, the registration will take just two days of work. Corporations can let out offices, plots of land or Industry of Light Units founded on accessibility. A corporation can contain multiple amenities (Kemp, 2002). All services are priced as per usage by the confined giver. Numerous business sectors are being persuaded, a number of them being, Logistics, cargo & freight, Aviation & aerospace Electronics, Computers, internet and IT Electrical, Consultancy and business development, medical equipment, Telecom, express transportation, and pharmaceuticals. ADAFZ offers three sorts of commerce licenses; license of trade, license of service and an industrial license (Mustafa, 2002). FTZ1-Positive Contributions to the UAE This trade park provides the clientele with a dynamic overcrowding, an environment that is free. They proffer rapid and proficient clearance cargo services. Entry to the apron of the airport in addition to global shipment forward, and agencies of cargo clearance is readily obtainable. Onsite inspection amenity of cargos is given. ADAFZ offers all inclusive shop resolution for every investor necessities and overhauls (UNDP, 2003). The amenities can be obtained daily with online client support scheme. A variety of services such as commerce registration, certification, letting, member of staff ...Download file to see next pagesRead More
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