24 Feb 2020 00:00:00 AM Breaking News
UAE announces recovery of two new coronavirus patientsPanasonic CEO vows to ‘eradicate’ money-losing businessesEmirates to carry over 6,500 passengers to Dubai for Amway’s largest leadership gatheringTrading of Emirates NBD Bank’s rights issue to take place this NovemberSelling pressure on Emaar drags DFM 1.3% lowerEmirates NBD hires Standard Chartered's Patrick Sullivan as CFOWorld Bank chief asks India to reform financial sectorEarly settlement charges on home loans in UAE reducedBreast Cancer Awareness: How to do a self-exam and why it is a mustDFM surges 4.8 percentageas Emirates NBD hikes foreign stakes limitMcDonald’s enlists Alexa and Google to help with its hiring84-year-old Indian man goes skydiving in DubaiUAE in Space: Have questions for Hazza on the ISS?Indian minister seeks direct flight between Bhubaneswar and DubaiExpo 2020 dome now complete, marking new milestone for UAEEmirati astronaut Hazza Al Mansouri undergoes final test as lift-off nearsSoftBank triples net profit in Q1Microsoft 'listens' to conversations, but only with permissionChina warns India of ‘reverse sanctions’ if Huawei is blockedStocks, oil edge higher as trade-war panic easesTens of thousands losing jobs as India's auto crisis deepensSerena again tops Forbes list of highest-paid sports womenDubai equity traders get a reason to cash out ahead of holidaysRight time to invest? UAE equities attractive on low valuations, positive indicatorsIndian rupee hits 19.21 vs UAE dirhamHumid and dusty weather in UAE until Eid weekendHeathrow airport strike: Emirates issues travel advisoryEid Al Adha 2019: Four-day holiday in UAEEid Al Adha to be celebrated on August 11 in UAENissan, Renault eye restructuring for Fiat merger: report Nissan controls 15 per cent and has no voting rights in Renault

Finsa Middle East opens new regional office in Dubai Digital Park at Dubai Silicon Oasis

Trade and economic ties between Spain and the UAE are poised for growth

DUBAI: Dubai Silicon Oasis Authority, DSOA, the regulatory body for Dubai Silicon Oasis, DSO, an integrated free zone technology park, and Finsa, a Spanish industrial company, celebrated on Saturday the inauguration of Finsa Middle East’s new regional office at Dubai Digital Park in DSO.

Dr Juma Al Matrooshi, Deputy CEO of DSOA, officially inaugurated the new office along with Pablo Figueroa, CEO and Member of the Executive Board of Finsa.

Headquartered in Santiago de Compostela, Spain, Finsa operates across 80 countries with 3,347 employees, 12 production plants, eight logistics platforms and 18 commercial branches. The company is a pioneer in the manufacturing of particle boards and became the first manufacturer of technical wood on the Iberian Peninsula to provide the Environmental Product Declaration, EPD, for its products. In the fourth quarter of 2018, Finsa reported total annual sales of ₤942 million with a sales turnover of ₤916 million and investment of ₤87 million.

Finsa Middle East new offices at Dubai Digital Park will offer a dedicated client’s showroom that showcases the company’s vast range of wood products and building solutions. It will also host regular events and welcome partners, distributors and industrial customers, as well as consultants, designers, architects and potential clients.

Speaking on the occasion, Dr Al Matrooshi said, “We welcome Finsa Middle East to Dubai Digital Park. The company’s relocation reflects its continued keen interest in the region and trust in the emirate, as well as the potential of leveraging the resources that Dubai Digital Park has to offer. We remain steadfast in our commitment to attracting foreign direct investment from companies of all sizes and backgrounds to Dubai.”

He added: “Dubai Digital Park will provide Finsa Middle East with premier services and bring it closer to its staff as well as existing and potential clientele. We are confident that Dubai Digital Park as well as the wider DSO community will benefit from having such a well-rounded multinational company among its partners.”

Recent numbers show that the trade and economic ties between Spain and the UAE are poised for growth as multiple Spanish firms plan to enter the market. In 2017, the bilateral trade stood at ₤2 billion, and the number is expected to increase in the coming years. Around 200 Spanish companies are currently based in the UAE, while UAE companies have also invested in Spain.

Pablo Figueroa, CEO and Member of the Executive Board of Finsa, said: “The Middle East is an important market for us as we evolve our business on the global stage. Setting up in Dubai Digital Park will give us the setting to access that market unlike anywhere else in the region, while offering us a great space to innovate and digitise our operations.