ABCN attracts 64 foreign companies

Alliance Business Centers Network (ABCN) has attracted 64 new foreign companies last year to its branches in Dubai Silicon Oasis and Dubai Business Village, with investments exceeding AED 220 million in various sectors in the emirate, and a growth of 30 % compared to 2011.

Out of the total number of new foreign companies that have established presence at Dubai-based Alliance Business Centers last year, 42 % were Asian, 31 % were European, while firms from Africa comprised 21 % and from the U.S. 6 %.

As for the breakdown of companies per sector, the trade sector amounted to 39 % of new entrants, followed by 38 % for marketing and management consulting and 23 % for companies specializing in Information Technology.

Osama Salman, Chairman of Alliance Business Centers Network, UAE, confirmed that this achievement reflects the growing confidence from foreign investors in the positive outlook for the national economy, adding: "The bundle of mega-projects that were launched last year, especially the 'Mohammed Bin Rashid City' project, sent the world a very important message that Dubai's ambition knows no boundaries and the emirate will continue to create investment opportunities driven by economic diversification and by stimulating investment and commercial activity in various sectors while receiving complete government backing."