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Fujairah Free Zone Plans To Help Local Entrepreneurs (3 March 2018)

The Fujairah Free Zone Authority, FFZA, is planning to encourage companies based in the Zone to share their skills and expertise with local entrepreneurs, as a way of stimulating local businesses, according to its director general, Sharief Al Awadhi.

"Amongst the hundreds of companies in the Zone, there are many who have skills that could be of real value to other companies in Fujairah," Al Awadhi says.

In an interview with the Emirates News Agency, WAM, Al Awadhi added, "We have companies in the Zone working with copper. Are there start-up firms in Fujairah who are developing ideas where copper-working skills would be of help? We have companies who make moulds for industry. Are there entrepreneurs in Fujairah who have an idea which they need to test out with moulds? Perhaps the companies in the Free Zone can help them."

A FFZA team is now investigating ways of bringing together the companies in the Zone and those outside it, for an exchange of ideas and expertise.

One idea currently being developed is the establishment of a special centre where companies operating in the Zone can display their products and ideas. Local entrepreneurs would then be able to make use of the centre to identify whether there is scope for them to collaborate on developing new products and businesses.

The Fujairah Free Zone, close to the Port of Fujairah, was established a little over two decades ago and now has well over 2,000 companies registered. Of these nearly 30 percent are engaged in processing, manufacturing and service industries.

"This represents an enormous amount of expertise," Al Awadhi says. "Our hope is that, by creating a dedicated centre to showcase this knowledge, we can stimulate the growth of entrepreneurship outside the Zone. That, in turn, will increase local employment and will contribute to increased business for the Port of Fujairah and for Fujairah International Airport."

"This sharing of knowledge has the potential to make a major contribution to the diversification of the local economy," he concluded.

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