The northern UAE emirate of Umm Al Quwain is all set to launch the second phase of its free trade zone facility, which will include a smart city.

In keeping stride with the UAE’s vision for sustainable economic development and decreased reliance on oil and gas industries, the Umm Al Quwain Free Trade Zone (UAQ FTZ) has picked up steam over the past year.

Under the patronage of His Highness Sheikh Saud bin Rashid Al Mu’alla, Supreme Council Member and Ruler of Umm Al Quwain, the free zone has undergone a complete infrastructure makeover – both physically and digitally, said senior officials at the UAQ FTZ.
 
With the infrastructure masterplan already complete for Phase Two of the industrial area, which will house offices, labour accommodations, warehouses and residential complexes, UAQ FTZ looks to build a smart city where people will able to ‘walk to work’.

"Renewable energy, education, health, technology, water and space will be the primary target industries for us," remarked Johnson George, the general manager of UAQ FTZ.
 
Once Phase Two comes to fruition, the free zone will function as an independent industrial city with amenities for its employees and residents like a hospital, shopping centres, a school, a hotel and even an exhibition and convention centre, thereby promoting the ‘walk to work’ concept.

The current ERP/CRM system of the free trade zone will become centralised to help its clients record sales, leads, account statements and other business activities, stated George.

Plans are also in place for a revamp of the website to facilitate online submission of company formation documents and automated issuing of licenses. The security mainframe and its peripherals have been set up to meet UAE’s high standards of safety, he added.
 
UAQ FTZ has enjoyed a success-brimmed 2016, having already issued over 1,500 business licences and taking the overall count 2500-plus.

"This has been possible because of the foreign direct investment from countries like India, UK, France and from the other Asian subcontinent," remarked George.

As a marketing pathway, UAQ FTZ has welcomed manufacturing industries, IT companies and specialised consultancies, FMCGs (fast moving consumer goods, foodstuff-related companies, gem, precious metals, jewelry and automotive spare parts sellers as major players in the free zone.

It has also participated in marketing exhibitions in the BRICS countries, which is sure to attract more foreign investment in UAQ’s rumbling economy.
 
"The proximity to ports and UAQ’s super-reasonable costs of living and of doing business are sure to bring in more numbers in the coming years," observed George.

"Going forward, the free zone is looking to usher in white collar businesses like IT companies, back offices, call centres, R&D centers. Freelancers and micro-businesses have also found firm footing in UAQ, thanks to the free zone’s offering of these licences," stated the official.

"With a growing number of investors using UAQ FTZ as a catalyst to expand their business, there is no doubt that the free zone is on an upward trend and will contribute more to UAE’s healthy economy," he added.-TradeArabia News Service