The First Free Zone in the Country to Return Cash and Bank Guarantees
Dubai, United Arab Emirates: To promote ease of doing business and to support its customers Jebel Ali Free Zone (Jafza), the GCC’s largest special economic zone, will become the first free zone in the country to return cash and bank guarantees to its clients through its new Workforce Protection Programme initiative that is set to roll out in September of this year. The move will provide added benefits to employees and infuse AED 1.3 billion back into Dubai’s economy that companies can invest in their operations and strengthen their businesses.
The decision is geared towards supporting goals set by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to improve worker rights and protections under the UAE Government’s insurance initiative.
Sultan Ahmed Bin Sulayem Chairman of the Ports, Customs and Free Zone Corporation and the Jebel Ali Free Zone Authority said:
“Jafza welcomes the UAE government’s latest initiative as it will play a significant role in taking the country in the right direction. Our people are our greatest assets, and we are committed to providing them with a fair work environment that ensures they receive all the rights, privileges, and protections that should be afforded to them as core contributors to the nation’s economy.
“Through the Workforce Protection Programme, we are striving to raise standards for the UAE’s private sector by providing businesses with a model they can emulate successfully and help fulfil the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum as outlined in his 50 Year Charter.”
Under the new Workforce Protection Programme, companies will avail insurance coverage that will help protect the workers in case of wage default by their employers. This coverage will extend to all existing Jafza sponsored employees, and will be applied by default to any new workers from the time they receive their work visas.
DP World, UAE Region and Jafza have adopted critical roles in Dubai’s economy as key employers, accounting for 16.2 per of the emirate’s total workforce. Jebel Ali Port and Free Zone employees are 1.4 times more productive than the average UAE employee, contributing to over 33% of Dubai’s GDP in 2017.
About Jebel Ali Free Zone (Jafza):
Jebel Ali Free Zone (Jafza) is one of the world’s leading free trade zones, home to over 7,500 multinational companies. Jafza accounts for 23.9% of total FDI (Foreign Direct Investment) flow into the country and it sustains the employment of more than 135,000 people in the United Arab Emirates. In 2017, Jafza generated trade worth USD 83.1 billion.
Jebel Ali Port & Free Zone are strategically located at the crossroads of a region providing market access to over 3 billion people. As an integrated multi-modal hub it offers sea, air and land connectivity, complemented by extensive logistics facilities. Jebel Ali Port & free zone contribute 33.4% of Dubai’s GDP on a yearly basis.
As the leading business hub between Asia, Europe and Africa, the fastest growing producing and consumer markets globally, with over 30 years’ experience, Jafza focuses on long-term customer relationships. Jafza builds alliances with global investors by providing them with world-class infrastructure and support, plus quality-driven value-added services and incentives. Jafza enables its customers to access huge business opportunities in the region with ease and efficiency.