Dubai - Mubasher: Jebel Ali Free Zone (Jafza) posted a 22.5% growth in foreign companies from the food and beverage sector, with companies rising from 480 in 2015 to 588 last year, according to a press release.
The group chairman and CEO of DP World, Sultan Ahmed bin Sulayem, indicated that out of the sector’s companies based in Jafza, 57% are from the Middle East region with 18% from Asia-Pacific, 13% from Europe, 8% from the Americas and 4% from Africa.
A recent Business Monitor International (BMI) research report expects food sales in the Middle East and North Africa to increase by 6.3% on an annual basis between 2015 and 2020, the statement noted.
The food and beverage industry will see a 7.1% growth on an annual basis until 2020, due to several factors such as the strong investment in the retail sector in the next few years and the rise in the number of tourists and expatriate population by up to 10.4 million people by 2025.
Jafza will be participating at the Gulfood Exhibition from 26 February to 2 March at Dubai World Trade Centre, bin Sulayem added.
