UAE holds talks to enable Israel to invest in Jafza

SANAA, Jun. 16 (YPA) – Advanced talks are being conducted by the UAE to enable Israeli entity to invest in Jebel Ali Free Zone (Jafza) in Dubai.

According to sources to Emirates Leaks Website, the UAE regime aims to enhance the presence of Israeli investment companies in the country’s economy, as a gateway to the Gulf states.

The sources pointed out that the deal to invest Israeli companies will be crystallized in secrecy, as a result of Arab and Gulf angry reactions to the move that threatens to completely open Gulf and Arab markets to Israel’s products.

The group “DP World” is considering selling a stake in the free zone to Jafza in Dubai, which played a major role in the emirate’s transformation into a global trade center.

“Bloomberg” agency quoted informed sources as saying that “DP World Ports Operations have currently discussed with consulting companies the size of the share that can be offered for sale, noting that the Emirati group is studying several options to sell its share.

Jafza attracts about a quarter of foreign direct investments to Dubai, where more than 8000 companies have been operating since the zone was established in 1980.

AA