Mr. Bin Sulayem: Electronics trade worth over AED 113 billion in freezone
Dubai, 15 October, 2017: The electronics sector has grown into one of largest in Jafza with 1154 companies from 87 countries serving local and regional markets.
The value of trade in the sector through Jafza companies is over AED 113 billion, approximately 38% of the total value of Jafza trade AED 294 billion Electronics companies there employ more than 9,200 people and occupy 1.3 million square meters in the free zone as leased land, warehouses and offices.
Mr. Bin Sulayem, said: 'The growth of the electronics sector reflects the development of technology globally and rising consumer interest in the latest products. Government initiatives to achieve the vision of the UAE and Dubai 2021 to create a knowledge-based economy under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, have also contributed to its rapid growth.”
Recent research* shows that spending on audio-visual devices will increase more in the UAE than most regional markets in the medium-term due to strong growth in the residential and hospitality sectors. Expo 2020 also estimates that about 81,000 new hotel rooms will be needed by 2020 and equipping these rooms and renovating existing hotels will increase demand for electronic appliances. Sales of audio-visual devices (in the UAE or globally?) are predicted to reach US $689 million by the end of 2017, and US $710 million by the end of 2021. Mobile phone sales are expected to reach US$2 billion in the same year, with competition between manufacturers and major international companies on new product launches.
Jafza hosts some of the world's leading companies in the sector including Samsung, HP, Sony, Panasonic, LG, Philips and Sharp.