JAFZA’s showcases AED13.5bn Food Valley at Gulfood 2022

JAFZA’s showcases AED13.5bn Food Valley at Gulfood 2022

Jebel Ali Free Zone’s (Jafza) F&B cluster will be on display at this week’s Gulfood. The cluster plays an integral role in the UAE’s aspirations to achieve global competitiveness. Generating an estimated 20 per cent of Dubai’s total F&B trade, Jafza’s F&B cluster deploys and embraces the latest trends in food manufacturing and distribution, driving local food production in the country, contributing to the UAE’s National Food Security Strategy 2051 targets.

According to forecasts by Fitch Solutions, food spending growth will accelerate in 2022, expanding by 4.3 per cent, up from 2.6 per cent in 2021. Food spending is expected to grow by an average annual growth rate of 4.2 per cent over the next three years (2022 – 2025). The increase in consumer spending will undoubtedly have a positive impact on production and trade, fuelling economic activity in the country. At a time when an industrial boom is on the horizon, support from business districts such as Jafza is integral to meeting this increase in demand.