His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, at the moment attended the inauguration of the World Free Zones Group (World FZO) World Congress in Dubai, held underneath the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
His Highness additionally attended the launch of the brand new company identification of the World Free Zones Group (World FZO), which coincided with its tenth anniversary.
The opening ceremony of the most important congress for the reason that World FZO’s institution happened on the Madinat Jumeirah in Dubai. The occasion was attended by His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman and Chief Govt of Emirates Airline and Group; His Excellency Dr. Roosevelt Skerrit, Prime Minister of Dominica; His Excellency Abdulla bin Touq Al Marri, Minister of Economic system; His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Overseas Commerce; His Excellency Dr. Mohammed Al Zarooni, Chairman of the World FZO; and His Excellency Dawoud Al Hajri, Director Common of Dubai Municipality.
Attendees additionally included 24 ministers, deputy ministers and secretary generals, from nations internationally, together with representatives from over 136 nations. Greater than 2,000 international and regional enterprise leaders, free zone officers, and representatives from quite a few worldwide organisations had been additionally current.
Through the opening ceremony, His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum stated that Dubai has pioneered a particular free zone mannequin, which has grow to be a key driver of financial development. “Dubai is on a gradual path to changing into one of many world’s high three city economies throughout the subsequent decade, aligned with the targets of the Dubai Financial Agenda (D33).”
Sheikh Ahmed additionally highlighted the essential function of Dubai’s free zones in advancing the imaginative and prescient of His Highness Sheikh Mohammed bin Rashid Al Maktoum, and consolidating its standing as a worldwide financial and buying and selling hub. He highlighted Dubai’s rising profile as a pre-eminent worldwide vacation spot for funding, expertise, and innovation, supported by its cutting-edge know-how infrastructure and superior capabilities, particularly in future-focused industries.
Dubai is internet hosting the World FZO World Congress for the second consecutive 12 months and the fifth time since its inception. This 12 months’s congress is being held underneath the theme ‘Zones and the Shifting World Financial Constructions – Unlocking New Funding Avenues’.
World commerce companion
His Excellency Abdulla bin Touq Al Marri, Minister of Economic system, stated the institution and improvement of the UAE’s free zones has been pushed by the nation’s visionary management. “At the moment, these free zones have developed into important financial platforms that join Asia, Europe, and Africa. With 44 multi-specialised free zones, the UAE boasts extremely environment friendly infrastructure that performs a vital function in enhancing the competitiveness of our nationwide economic system. Their regulated but aggressive surroundings facilitates enterprise operations throughout key sectors, together with know-how, healthcare, logistics, and finance, supporting the UAE’s efforts to solidify its place as a worldwide commerce companion and influential financial hub—additional aligning with the ‘We the UAE 2031’ imaginative and prescient,” he stated.
“Internet hosting this vital financial occasion in Dubai for the second consecutive 12 months is a worldwide testomony to the vibrancy and dynamism of Dubai’s enterprise surroundings and the competitiveness of our nationwide economic system at each regional and international ranges.”
He additional emphasised the function of UAE free zones in advancing nationwide efforts towards financial diversification. They create job alternatives, stimulate funding and innovation, foster the expansion of recent companies, and drive the transition in direction of a contemporary economic system. Since 2021, these zones have grow to be hubs for superior know-how and expertise improvement, attracting over 60,000 firms.
As well as, His Excellency underscored the significance of the free zone mannequin in supporting international financial development, particularly throughout instances of financial uncertainty. In line with the Group for Financial Cooperation and Growth, free zones are accountable for $3.5 trillion in exports yearly, representing round 20% of world commerce in items.
Main place
Throughout his opening speech, His Excellency Dr. Mohammed Al Zarooni, Chairman of the World FZO, stated: “As we launch the World FZO’s new company identification and step into our second decade, we look ahead to embarking on a brand new section underneath the theme ‘NextGen Free Zones: A Decade of Progress, A Way forward for Promise, Unlocking Funding Alternatives for the Subsequent Decade’. This section will probably be pushed by three elementary pillars: Impression, Affect, and Belief, which is able to information our technique as we proceed to assist and improve free zones and develop revolutionary options to the challenges going through international commerce and funding sectors, in addition to to drive international prosperity and sustainability by means of empowered free zones worldwide, guided by these pillars.”
“Over the previous decade, the World FZO has been instrumental in advancing the financial sector and elevating its requirements, taking part in a vital function in setting benchmarks and serving to advance international sustainable improvement. This has resulted within the outstanding development of our membership, from 14 founding members to a thriving international neighborhood of 1,600 members from 141 nations, supported by 12 regional places of work and 42 nationwide focal factors worldwide,” Al Zarooni added.
Al Zarooni emphasised that the World FZO’s resolution to announce its new company identification in Dubai at a time when the organisation is marking its tenth anniversary displays the emirate’s rising profile within the international economic system. He highlighted the UAE’s rising affect in worldwide commerce, and its important function in fostering the event of world free zones in partnership with different member states.
In his speech, Al Zarooni expressed the World FZO’s deep gratitude to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for his unwavering assist since its launch in 2014 and his beneficiant patronage of the tenth World Congress. He famous that this patronage exemplifies Dubai’s dedication to contribute to the event of the worldwide ecosystem of free zones. On the identical time, it underscores the emirate’s relentless efforts to realize its formidable targets, together with doubling its overseas commerce to succeed in AED25 trillion by 2033 and establishing commerce corridors with 400 new cities worldwide, in alignment with the Dubai Financial Agenda D33.
New technique
Together with the launch of its new company identification, the World FZO introduced its new imaginative and prescient, mission, and function. Its new imaginative and prescient focuses on driving international financial progress, sustainability, and inclusive development by means of empowered free zones, setting the benchmark for financial development. As a part of its new mission, the World FZO goals to have interaction with free zones from around the globe by supporting them by means of information sharing, networking, advocacy, and consulting, enhancing their constructive impression and contributions to financial and social improvement of their respective nations.
The organisation’s new company identification represents its three strategic pillars: Impression, Affect, and Belief. Its concentrate on Impression will drive sustainable development and effectiveness, guaranteeing that free zones stay on the forefront of socio-economic improvement and innovation. Beneath its second pillar, Affect, it seeks to form the way forward for international commerce and funding by advocating for insurance policies that foster development and alternative for companies and communities. Moreover, by constructing Belief, the organisation will reinforce its function as a steadfast ally, offering the assist and advocacy wanted to navigate an more and more complicated and evolving international panorama.
In keeping with its new technique, the organisation’s key goals for its new section embrace opening new funding horizons and reinforcing social contributions by supporting net-zero initiatives. Leveraging its studying, communication, and session instruments, the organisation seeks to drive significant constructive change and foster larger collaboration throughout the international ecosystem of free zones.
A power for constructive change¬
In keeping with its new strategic route, the World FZO reaffirmed its dedication to its core values whereas enhancing its strategy by adopting the newest practices and protecting tempo with speedy international modifications. This forward-thinking strategy permits the organisation to reshape prevailing perceptions and spotlight its distinctive and revolutionary strategies by providing sensible, dependable, and efficient options.
With its new identification, the World FZO additionally emphasises its dedication to launching purposeful and clear initiatives that solidify its function as a catalyst for constructive change on the worldwide stage. These efforts goal to strengthen the organisation’s popularity as an influential chief within the free zone sector, marked by each innovation and integrity, whereas preserving its place as a key participant within the trade.
The World FZO stays targeted on fostering and strengthening commerce relations and partnerships between financial zones in its member nations, whereas broadening its actions to embody rising financial sectors. These sectors align with the calls for of the period, together with synthetic intelligence, digital commerce, the Fourth Industrial Revolution, and superior applied sciences. By supporting the event of nationwide economies based mostly on information and innovation, the World FZO goals to contribute successfully to reaching complete international development and prosperity.
All through its first decade, the World FZO targeted on consolidating its strategic function in strengthening and increasing its member base, whereas offering high-quality, built-in, and complete companies to its members. The organisation additionally prioritised fostering constructive dialogue and enhancing cooperation alternatives with numerous stakeholders to assist its formidable targets. These efforts goal to realize international development and prosperity by means of the financial zones mannequin.
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