Business News
IMPZ Highlights Dubais Strong Investment Climate at Drupa 2008 in Germany
Monday 26. May 2008 - Competitive cost and location advantages, world class infrastructure, as well as political and economic stability are some of the key elements that have helped Dubai create a strong investment climate suitable for regional and multinational businesses, according to Hamad Al Huraiz, Executive Director for International Media Production Zone (IMPZ), a member of TECOM Investments.
Announcing IMPZs participation at Drupa 2008, Al Huraiz said it will highlight Dubais business-friendly ambience and its critical success factors at the worlds largest print, media, publishing and converting technologies fair to be held from 29 May – 11 June in Dusseldorf, Germany.
Al Huraiz said: “Dubai boasts a free economic system that allows private sector enterprises to undertake initiatives with minimum government intervention. Lower tax rates and customs levies for the corporate sector and tax-free income for individuals are other elements that attract investors to the emirate.
“Like other free zones based in Dubai, companies joining IMPZ can avail of 100 per cent ownership, tax holiday and lower overheads for machinery, equipment, raw materials and spares. Rules governing media production have also been simplified to ensure maximum ease of operations for potential and existing investors.”
Over the last few decades, Dubai has evolved into a cosmopolitan destination with world class infrastructure. The emirate also boasts the regions only commodities derivatives exchange and an international financial centre that hosts nearly 400 global financial institutions. Dubais unparalleled advantage is its geographic location at the crossroads of Asia, Europe and Africa that offers proximity to various markets, making it an ideal hub for international operations.
The only free zone in the world that is dedicated to the printing, publishing, packaging (3P) and graphics art industries, the IMPZ facility offers ease of operations for imports, exports and logistics through its strategic location close to the new Jebel Ali port and the Al Maktoum International Airport, set to become the worlds largest. The new airport, when completed, will have a annual handling capacity of about 120 million passengers, along with 12 million tonnes of cargo.
Early this year, IMPZ announced the completion of its EURO 41 million Pre-Built Units (PBU) complex. With a total of 106 units, the PBU buildings feature world class showrooms and multi-use warehouses. Constructed primarily for media production companies that seek to commence operations without delay, the phases offer a built-up area of 1.4 million sq feet.
Created with an initial investment of approximately EURO 277 million, IMPZ is spread over 43 million square feet of land boasting an EURO 49 million state-of-the-art infrastructure.
IMPZ aims to complement Dubais vision of becoming a global media destination by offering the finest media resources, cutting-edge technologies and advanced production amenities. Apart from pre-built units, residential and commercial offices, the world-class facility also offers plots for developers who opt to establish their own units.