Joubert expands into the Middle East
Firm opens office in RAK free zone
French plywood specialist Joubert is setting up a new branch in Ras Al Khamiah as part of its first steps into the Middle East, it has been revealed.
Joubert received its trade license on Sunday from Ras Al Khaimah Free Trade Zone (RAK FTZ) after months of visiting the Gulf.
“For us it is a new market and a new opportunity,” said Joubert general manager Michael Geoffroy.
“We have been coming to Dubai every month this year and we have also visited Qatar and Bahrain. Although Dubai has been hit by the downturn, projects are still on-going here and we see a gap in the market for our product.”
Free zones allow businesses to hold 100% ownership of their company, which is one of the reasons Joubert decided to move into RAK FTZ.
“We have a product that is of very high quality and is not sold in the UAE so we need to do the marketing ourselves. That’s why we decided to set up in a free zone so we have full ownership and it seemed like the right option for us at the time.”
Geoffroy added that new proposed UAE ownership laws, which could allow foreign investors to establish themselves outside a free zone with 100% ownership, may affect future business decisions.
“We will see how things go. The new law may give us more freedom.”