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UAE Freezones Biz News Updates
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Dafza launches new strategy to attract FDI
The Dubai Airport Freezone Authority (Dafza) has launched a new strategy to
help attract more foreign direct investments (FDIs) to the sectors and
support the ‘Dubai - Capital of Islamic Economy’ initiative.
Launched by Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dafza, the
‘Dafza’s Strategy for Islamic Economy’ is based on strategic initiatives
involving the Islamic economy and halal sectors. It consists of three main
directions and 20 strategic initiatives that will be implemented within the
coming five years to help achieve the vision of making the Islamic economy
more added value and competitive advantage to Dafza.
Sheikh Ahmed affirmed his belief in Dafza’s high level of competitiveness
which ensures the best results in all the freezone’s practical works to
enable it to become among the most advanced freezones in the world. He
emphasized the importance of the strategy in view of the rapid local and
global growth of the Islamic economy, especially after the UAE was ranked
first in the Arab World and second globally in the Global Islamic Economy
Indicator.
Dr Mohammed Al Zarooni, director general of Dafza, said: “In the next five
years, the ‘Dafza’s Strategy for Islamic Economy’ will enhance the role of
the freezone as an effective partner in achieving the UAE’s aspiration of
becoming a leader in all fields and categories. We are proud of our
achievements over the past years and we look forward to a promising future
that reinforces Dafza's position as a leading hub for business, trade and
investment.”
“We are also eager to remain a key player in the development of the national
economy and the Islamic economy in particular which has become a central
sector within Dubai’s economy. The Islamic economy promises prosperity and
growth for investors and will positively influence the GDP of the emirate.
“The Islamic economy is becoming increasingly important due to the high
demand for Sharia-compliant products and services. By launching this new
strategy, Dafza aims to broaden its role in the development of the Islamic
economy sector, which conveys all the elements of success and growth of
various economic sectors,” Dr Al Zarooni added.
After conducting a comprehensive study on the requirements of the Islamic
economy market, Dafza built the strategy based on three main directions for
the next five years. The first will focus on two key initiatives: creating a
new source of revenue growth for Dafza by attracting investors in the Halal
sector, and providing adequate support for existing customers that intend to
enter the sector.
The second will emphasize Dafza's role as a major motivator for the growth
of the Islamic economy and the local Halal sector in Dubai by developing ten
initiatives that fully support existing and new investors seeking to expand
their business and invest in the Islamic economy. The third and final
direction will involve eight initiatives that support the establishment of a
Halal ecosystem capable of attracting leading companies in Halal industries
that include food, fashion, pharmaceuticals, and cosmetics, among others.
‘Dafza’s Strategy for Islamic Economy’ aims to attract more FDI into the
Islamic economy to help the sector increase its revenues and double its
contribution to Dubai’s GDP. The strategy is expected to attract more than
40 new investors in various sectors of the highly promising Islamic economy.
A report issued by the Dubai Islamic Economy Development Centre covering the
period from 2016 to 2017 estimates the global worth of the Islamic economy
at $1.9 trillion. The strategy will help place Dafza at the forefront of
global freezones that support this economy.
Dafza’s strategy has various initiatives covering all aspects of the Islamic
economy, including Sharia-compliant initiatives and others related to
e-commerce and the Islamic economy. It also covers various initiatives that
will define the future of the Islamic economy in the UAE and Dubai and will
encourage Halal industries to follow its standards and encourage
multinational companies to enter and invest in the Halal sector as well.
In addition, Dafza will explore investment opportunities within
high-priority markets that exported Halal products to the UAE in 2015 such
as Singapore, India, France, the Netherlands, Italy, Britain, Germany,
America, Turkey, China, Saudi Arabia, and Oman.
Dec 19, 2017 |
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Courtesy TradeArabia News Service
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