Umm Al Quwain free zone has announced that it is ready to launch the second phase of its expansion project.
In a statement released by Umm Al Quwain Free Trade Zone (UAQ FTZ), senior officials said that with the infrastructure master plan already complete for phase two of the industrial area – which will house offices, labour accommodation, warehouses and residential complexes – the UAQ FTZ was looking to build a smart city where people will be able to walk to work.
“Renewable energy, education, health, technology, water and space will be the primary target industries for us”, said Johnson M. George, general manager of UAQ FTZ.
Once phase two is complete, the free zone will function as an independent industrial city, with amenities for employees and residents. These will include a hospital, shopping centres, a school, hotel and an exhibition and convention centre.
Furthermore, Johnson said that the current ERP/CRM system used in the free trade zone will become centralised so as to help clients record sales, leads, account statements and other business activities. Plans have also been put in place for a revamp of the website, so as to facilitate the online submission of company formation documents and automated issuing of licenses. Officials asserted that the security mainframe and its peripherals have been set up to meet the highest standards of safety.
Johnson added that the UAQ FTZ has issued more than 1,500 business licenses in 2016, which takes the overall count to more than 2,500.
“This has been possible because of the Foreign Direct Investment from countries like India, UK, France and from the… Asian subcontinent.”
As a marketing pathway, UAQ FTZ has welcomed manufacturing industries, IT companies and specialized consultancies, FMCGs, foodstuff-related companies, gem, precious metals, jewellery and automotive spare parts sellers as major players in the free zone, he explained.
It has also participated in marketing exhibitions in the BRICS countries, which is sure to attract more foreign investment, Johnson concluded.
