Today's Edition
DUBAI (WAM)
H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, on Tuesday attended the inauguration of the World Free Zones Organisation (World FZO) World Congress in Dubai, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai.
H.H. also attended the launch of the new corporate identity of the World Free Zones Organisation (World FZO), which coincided with its 10th anniversary.
The opening ceremony of the largest congress since the World FZO’s establishment took place at the Madinat Jumeirah in Dubai.
The event was attended by H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman and Chief Executive of Emirates Airline and Group; Dr. Roosevelt Skerrit, Prime Minister of Dominica; Abdulla bin Touq Al Marri, Minister of Economy; Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Dr. Mohammed Al Zarooni, Chairman of the World FZO; and Dawoud Al Hajri, Director General of Dubai Municipality.
Attendees also included 24 ministers, deputy ministers and secretary generals, from countries across the world, along with representatives from over 136 countries.
More than 2,000 global and regional business leaders, free zone officials, and representatives from numerous international organisations were also present.
During the opening ceremony, H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum said that Dubai has pioneered a distinctive free zone model, which has become a key driver of economic growth.
"Dubai is on a steady path to becoming one of the world's top three urban economies within the next decade, aligned with the goals of the Dubai Economic Agenda (D33)."
H.H. also highlighted the crucial role of Dubai’s free zones in advancing the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, and consolidating its status as a global economic and trading hub.
H.H. Sheikh Ahmed bin Mohammed highlighted Dubai’s growing profile as a pre-eminent international destination for investment, talent, and innovation, supported by its cutting-edge technology infrastructure and advanced capabilities, especially in future-focused industries.
Dubai is hosting the World FZO World Congress for the second consecutive year and the fifth time since its inception. This year’s congress is being held under the theme ‘Zones and the Shifting Global Economic Structures – Unlocking New Investment Avenues.’
The Minister of Economy, Abdullah bin Touq Al Marri, said the establishment and development of the UAE’s free zones has been driven by the nation’s visionary leadership.
“Today, these free zones have evolved into significant economic platforms that connect Asia, Europe, and Africa. With 44 multi-specialised free zones, the UAE boasts highly efficient infrastructure that plays a crucial role in enhancing the competitiveness of our national economy. Their regulated yet competitive environment facilitates business operations across key sectors, including technology, healthcare, logistics, and finance, supporting the UAE’s efforts to solidify its position as a global trade partner and influential economic hub—further aligning with the 'We the UAE 2031' vision," he said.
"Hosting this important economic event in Dubai for the second consecutive year is a global testament to the vibrancy and dynamism of Dubai’s business environment and the competitiveness of our national economy at both regional and global levels."
He further emphasised the role of UAE free zones in advancing national efforts toward economic diversification.
They create job opportunities, stimulate investment and innovation, foster the growth of new businesses, and drive the transition towards a modern economy.
Since 2021, these zones have become hubs for advanced technology and talent development, attracting over 60,000 companies.
In addition, he underscored the importance of the free zone model in supporting global economic growth, especially during times of economic uncertainty.
According to the Organisation for Economic Cooperation and Development, free zones are responsible for $3.5 trillion in exports annually, representing around 20 percent of global trade in goods.
Chairman of the World FZO, Dr. Mohammed Al Zarooni, gave a speech in which he said, “As we launch the World FZO’s new corporate identity and step into our second decade, we look forward to embarking on a new phase under the theme ‘NextGen Free Zones: A Decade of Progress, A Future of Promise, Unlocking Investment Opportunities for the Next Decade’. This phase will be driven by three fundamental pillars: Impact, Influence, and Trust, which will guide our strategy as we continue to support and enhance free zones and develop innovative solutions to the challenges facing global trade and investment sectors, as well as to drive global prosperity and sustainability through empowered free zones worldwide, guided by these pillars.”
“Over the past decade, the World FZO has been instrumental in advancing the economic sector and elevating its standards, playing a crucial role in setting benchmarks and helping advance global sustainable development. This has resulted in the remarkable growth of our membership, from 14 founding members to a thriving global community of 1,600 members from 141 countries, supported by 12 regional offices and 42 national focal points worldwide,” Al Zarooni added.
Al Zarooni emphasised that the World FZO’s decision to announce its new corporate identity in Dubai at a time when the organisation is marking its 10th anniversary reflects the emirate’s growing profile in the global economy.
He highlighted the UAE’s increasing influence in international trade and its vital role in fostering the development of global free zones in partnership with other 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 support since its launch in 2014 and his generous patronage of the 10th World Congress.
He noted that this patronage exemplifies Dubai’s commitment to contribute to the development of the global ecosystem of free zones.
At the same time, it underscores the emirate’s relentless efforts to achieve its ambitious goals, including doubling its foreign trade to reach Dh25 trillion by 2033 and establishing trade corridors with 400 new cities worldwide, in alignment with the Dubai Economic Agenda D33.
In conjunction with the launch of its new corporate identity, the World FZO announced its new vision, mission, and purpose.
Its new vision focuses on driving global economic progress, sustainability, and inclusive growth through empowered free zones, setting the benchmark for economic advancement.
As part of its new mission, the World FZO aims to engage with free zones from around the world by supporting them through knowledge sharing, networking, advocacy, and consulting, enhancing their positive impact and contributions to economic and social development in their respective countries.
The organisation's new corporate identity represents its three strategic pillars: Impact, Influence, and Trust.
Its focus on Impact will drive sustainable growth and effectiveness, ensuring that free zones remain at the forefront of socio-economic development and innovation.
Under its second pillar, Influence, it seeks to shape the future of global trade and investment by advocating for policies that foster growth and opportunity for businesses and communities.
Furthermore, by building Trust, the organisation will reinforce its role as a steadfast ally, providing the support and advocacy needed to navigate an increasingly complex and evolving global landscape.
In line with its new strategy, the organisation’s key objectives for its new phase include opening new investment horizons and reinforcing social contributions by supporting net-zero initiatives.
Leveraging its learning, communication, and consultation tools, the organisation seeks to drive meaningful positive change and foster greater collaboration within the global ecosystem of free zones.
In line with its new strategic direction, the World FZO reaffirmed its commitment to its core values while enhancing its approach by adopting the latest practices and keeping pace with rapid global changes.
This forward-thinking approach enables the organisation to reshape prevailing perceptions and highlight its distinctive and innovative methods by offering practical, reliable, and effective solutions.
With its new identity, the World FZO also emphasises its dedication to launching purposeful and transparent initiatives that solidify its role as a catalyst for positive change on the global stage.
These efforts aim to reinforce the organisation’s reputation as an influential leader in the free zone sector, marked by both innovation and integrity, while preserving its position as a key player in the industry.
The World FZO remains focused on fostering and strengthening trade relations and partnerships between economic zones in its member countries while broadening its activities to encompass emerging economic sectors.
These sectors align with the demands of the era, including artificial intelligence, digital trade, the Fourth Industrial Revolution, and advanced technologies.
By supporting the development of national economies based on knowledge and innovation, the World FZO aims to contribute effectively to achieving comprehensive global growth and prosperity.
Throughout its first decade, the World FZO focused on consolidating its strategic role in strengthening and expanding its member base, while providing high-quality, integrated, and comprehensive services to its members.
The organisation also prioritised fostering constructive dialogue and enhancing cooperation opportunities with various stakeholders to support its ambitious goals.
These efforts aim to achieve global growth and prosperity through the economic zones model.
