May 19, 2019 / 5:55 PM / a month ago

Dubai's JAFZA in $354 million boost to economy

DUBAI (Reuters) - Dubai’s government-owned Jebel Ali Free Zone (JAFZA) will return cash and bank guarantees to clients through a new initiative meant to inject 1.3 billion dirhams ($354 million) into the emirate’s economy, the government’s media office tweeted on Sunday.

“JAFZA to return cash and bank guarantees to its clients through its new Workforce Protection Programme initiative that is set to roll out in next September,” the tweet said.

“The move will infuse 1.3 billion dirhams back into Dubai’s economy that companies can invest in their operations.”

($1 = 3.6729 UAE dirham)

Reporting by Tuqa Khalid; Editing by Mark Potter

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