UAE, June 4, 2017– H.E. Dr. Mohammed Al Zarooni, Director General of Dubai Airport Freezone (DAFZA), welcomed a delegation from the Kingdom of Saudi Arabia’s (KSA) Economic Cities Authority (ECA) led by Mohanud Abdul-Mohsin Helal, Secretary General for Economic Development. The delegates aimed to gain deeper understanding of DAFZA’s two decades of successful management and operations, discuss collaborative opportunities with the Freezone, and exchange experiences in terms of investment and economic development. As a central player in the UAE’s economic development and active contributor to gross domestic product (GDP), DAFZA highlighted its efforts to uniquely enhance customer experience and efficiently attract foreign direct investments to the country.
H.E. Dr. Al Zarooni took advantage of the two-day visit to reiterate DAFZA’s commitment to help achieve economic integration in the region. He also cited the UAE’s historical relations with KSA established by their respective leaderships to attain common growth.
He said: “Based on its mission to create an ideal environment for the success of potential investments, DAFZA looks forward to contributing to and supporting the development of Saudi economic cities under the ECA. Rest assured that we will live up to our commitment to support the transformation of these cities into highly competitive economic complexes.”
“With over 20 years of leadership in attracting biggest international companies and substantial foreign capitals, DAFZA vows to engage in effective and fruitful expertise exchange and knowledge sharing with the ECA. This falls in line with the directives of our wise leadership to help strengthen the country’s bilateral relations with its neighboring GCC countries,” H.E. Dr. Al Zarooni added.
H.E. concluded: “Dubai’s free zones have significantly helped drive the country’s economic development, with the emirate boasting of successful experiences, exceptional achievements, global infrastructure and facilities, and integrated local government bodies. The city provides an integrated experience to all its foreign investors.”
Mohanad Abdul-Mohsin Helal, on the other hand, said: “Similar to our other initiatives, our visit has certainly enhanced the process of experiences’ exchange and contributed to the development of best practices necessary to provide special services to investors. Such information sharing also improves cooperation between the two parties to attract quality investments. During our visit to DAFZA, we discussed re-exportation and promising investment opportunities to build vibrant free zone areas. We are confident that our visit will positively impact our partnership. As a government entity tasked to oversee the Kingdom’s economic cities, form strategic partnerships with the private sector to achieve its goals, and contribute to the country’s prosperity, ECA emphasizes the importance of collaborating with our regional and international counterparts and promote sharing of experiences to help bolster Saudi Arabia’s comprehensive development in line with the aspirations of the Kingdom’s Vision 2030.”
Both parties agreed to exchange knowledge and practices through a series of workshops, meetings and exchange programs covering registration laws, government service delivery, municipal services, planning, investment development, and various means for attracting investors. They will also cooperate on developing valuable common propositions and innovative investment opportunities for existing and potential investors of DAFZA.
The Saudi Economic Cities Authority is one of the main catalysts for the economic and social development of KSA. It aims to establish and create a dynamic environment enabling the private sector to recover and innovate to be an effective force in the development process. Through the organization, efficient supervision and provision of government services in economic cities are guaranteed, in addition to providing support for strategic initiatives and attracting qualitative investments.