ABCN UAE reports 30% increase in new firms in 2012

(MENAFN) US-based Alliance Business Centers Network (ABCN) reported a 30 percent increase in the number of foreign firms attracted to both its branches in Dubai Silicon Oasis and Dubai Business Village in 2012, Arabian Business reported.

The company said that 64 new foreign companies last year were registered in the two branches, with over USD59.88 million investments in various sectors in Dubai.

According to ABCN report, 42 percent of the total firms registered were Asian, 31 percent were European, 21 percent were African an 6 percent were American.

The report also indicated that the trade sector had the lion's share of the new entrants with 39 percent, followed by marketing and management consulting, with 38 percent. The IT sector had a 23 percent share of the new entrants.

The growth registered last year reflects the increasing confidence from foreign investors in the prospects of the national economy, Osama Salman, Chairman of Alliance Business Centers Network, UAE said.

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