JAFZA webinar highlights way forward to empower SME businesses

Jebel Ali Free Zone, JAFZA, has ramped up efforts to support the Small and Medium Enterprises, SMEs, sector, the free zone operator said today.

The Free Zone hosted a webinar titled "Empowering Growth During Business Uncertainty" that attracted top industry experts and Jafza associates, which included Abdullah Alajaji, Founder, Driven Properties, Paul Bryson, Director of Domestic Structuring, Virtuzone and Mohammed AlDahbashi, Co-Managing Partner, Al Dahbashi Gray.

SMEs account for 94 percent of all companies operating in the UAE and generate more than 86 percent of the private sector’s jobs. The "Jafza Customer Support Initiative" launched earlier this year, offered a 50-70 per cent reduction of registration, licensing and related administration functions fees in Jafza as well as for new investors.

The initiative included the waiver of the application and attestation fees for all new incoming business. The key objectives of the exercise were to ease cost burdens for customers, increase Jafza market share, and maximise asset base.

Ahmad Al Haddad, Chief Operating Officer, Parks and Zones – DP World, UAE Region, said,

"Cost of doing business is, and has always been, a crucial element of our support strategy for existing and potential customers. The reductions in registration, licencing and other administrative fees were carefully planned and implemented across our vast customer base of over 8,000 so every company benefited from them. At Jafza, we’ve worked diligently towards ensuring our customers are fully satisfied with the support we give them and our service excellence. The initiatives are also designed to further incentivise customers to continue to operate from Jafza, especially in the prevailing market uncertainties."

Abdullah Alajaji, Founder, Driven Properties, said,

"In turbulent times, it is of paramount importance to embrace change. With the landscape of doing business evolving via technology and talent, it is those businesses with the right discipline and growth mindset that will thrive and capture a larger market share in their respective sector."

Paul Bryson, Director of Domestic Structuring, Virtuzone, said,

"It is our role, here in the UAE, to empower SMEs with the tools they need to push through and grow in times of uncertainty."

Mohammed AlDahbashi, Co-Managing Partner, Al Dahbashi Gray, said,

"In Dubai, the Courts were already running approximately 70 percent electronically - case filing, registration, archiving, decisions and publishing were implemented via online and electronic systems. When the country went into complete lockdown, we witnessed the legal industry transform overnight into a complete tech-based online resource platform. In a short period, the Courts were able to redirect all services electronically."

News Source: http://wam.ae/en/details/1395302869431