The Department of Economic Development (DED) in Dubai and the Dubai Aviation City Corporation (DACC), the entity responsible for the development of Dubai World Central (DWC), the world’s first purpose-built aerotropolis, have signed a memorandum of understanding (MoU) to establish a framework for mutually beneficial cooperation to promote the customer base, world-class infrastructure and facilities of DWC.
The MoU was signed by His Excellency Sami Al Qamzi, Director General, Department of Economic Development, and Khalifa Al Zaffin, Executive Chairman, Dubai Aviation City Corporation.
DWC will take advantage of the resources and expertise of the DED and its agencies to jointly undertake various initiatives that meet their respective commercial and strategic objectives to drive the economic growth and prosperity of Dubai. The key areas covered by the MoU are licensing and registration, export development, foreign investment, events and promotions, and SME support development.
Sami Al Qamzi said: “As the chief government authority responsible for implementing and co-ordinating initiatives that enhance Dubai’s business leadership, we consider Dubai World Central as an integral component of the long-term economic agenda of Dubai Government and central to its efforts to establish the emirate as the region’s premier aviation and logistics hub. We are therefore looking forward to collaborating with DWC as part of our mandate to achieve sustainable economic development in Dubai.”
Khalifa Al Zaffin, Executive Chairman, Dubai Aviation City Corporation, said: “Our partnership with the DED underlines the importance of the strategic support of Dubai Government to realising the vision of Dubai World Central to be a world-class aviation and logistics hub. Moreover, DWC and DED will work together to reinforce the economic drivers of Dubai and contribute to achieving the goals of the Dubai Strategic Plan. We will continue to establish strategic alliances with key government and private sector entities in line with DWC’s mission to serve as a catalyst for growth and long-term economic and social development in Dubai and across the region.”
Rashed Bu Qara'a, Chief Operating Officer, Dubai Aviation City Corporation, said: “The agreement with the Department of Economic Development will give Dubai World Central better access to government resources and expertise to develop policies, regulations and best practices that are strongly aligned with the economic initiatives and goals of Dubai Government. This is an important initiative that complements our efforts to promote DWC’s state-of-the-art aviation and logistics facilities and groundbreaking multi-modal infrastructure.”
Under the agreement, DWC and DED will share expertise on the policies, procedures and regulations for the registration and licensing of individual entrepreneurs, commercial enterprises and professional organisations. They will also explore initiatives for promoting flexible commercial operations at DWC. Moreover, through Dubai Exports, the export development agency of DED, both parties will cooperate in promoting the world-class facilities and efficient export processes at DWC as well as the products and services at the purpose-built aerotropolis.
The agreement also means DWC, in co-association with Dubai FDI, the foreign direct investment (FDI) promotion office in DED, will review and investigate areas for improving economic policies and regulations to attract new FDI to DWC as well as define, establish and promote new initiatives to establish country-specific business hubs at DWC.
The MoU covers all future events to be held at DWC such as the Dubai Airshow and the Middle East Business Aviation (MEBA). Through the Dubai Events and Promotions Establishment (DEPE), both parties will ensure that such events are well publicised through the Dubai Calendar and other initiatives of DEPE.
DWC and Dubai SME, the DED agency mandated to develop the small and medium enterprise (SME) sector will also work together to define, establish and promote new initiatives to support entrepreneurs and establish DWC as a platform to foster SME growth.
Following the signing of the agreement, the DED officials were taken on a tour of Dubai World Central, to provide them a detailed overview of the infrastructure facilities and the various elements of DWC. DED officials also visited the facilities of Integrated National Logistics (INL), a total logistics solutions leader having a new Central Distribution and Logistics Centre, the largest single-site warehousing complex in the UAE.