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The Dubai Airport Freezone (DAFZA) in the United Arab Emirates (UAE) said it witnessed a 23 percent increase in the number of Indian companies operating in the zone during 2015.
According to the free zone, India was the biggest investor in DAFZA last year, accounting for 38 percent of total Asia Pacific investments. Indian companies in DAFZA mainly invested in electronics, IT, and jewelry.
Last year, Oommen Chandy, the Chief Minister of Kerala State in India, visited DAFZA to discuss the possibility of establishing a new free trade zone in the city of Kochi, drawing on DAFZA's knowledge and experience.
DAFZA offers a number of tax incentives to businesses, including 100 percent exemption from corporate tax and import and export tax, and allows 100 percent foreign ownership.
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