The UAE government has been making several attempts to reduce its dependency on the oil and gas industry for its economic growth. As a part of the effort, it has been encouraging non-oil based industries a lot. One such industry is the textile industry. Business setup consultants in Dubai say that the textile industry is one of the most in-demand (non-oil) industries in UAE.
Business setup consultants in Dubai reveal that the latest economic strategy of the UAE government is the growth of the non-oil sector. UAE is already known for its large textile sector which is just behind the oil sector for income generation and employment. UAE imports textile products to more than 50 countries across the world.
The UAE government is taking a lot of efforts to ensure the growth of textile industry, especially in Dubai. One such effort is the establishment of an exclusive free zone for textile industry. The Dubai government has designated the Dubai Textile City (DTC) free zone in Fujairah to encourage the growth of the industry. In operation since 2007, this free zone aims at a rapid growth of the textile sector in UAE. The free zone has been constructed on a 2.2 million sq. feet area and around AED 250 million have been spent on it.
Both local as well as international companies manufacturing and trading textiles are encouraged to contribute to the DTC. They are offered several privileges and incentives provided.
Setting up a company in the general free zone area is the best option for a foreign owner company. The DTC serves as the best area for you to set up a textile company in the UAE. Get more idea about the industry by contacting the best business setup consultants in Dubai