Dubai, May 2, 2010: Dubai Economic Council (DEC) has signed a Memorandum of Co-operation (MoC) with Economic Zones World (EZW), parent company of Jafza. Both parties have agreed to cooperate in exchanging statistical data, studies, reports that may be technical, commercial, economical, financial or social in nature and experiences to enhance the investment climate in Dubai. Both parties will also jointly conduct seminars, workshops and meetings to achieve the objectives of the programme.
The agreement was signed by HE Hani Rashid Al Hamli, Secretary-General of the Dubai Economic Council and Mrs. Salma Ali Saif Bin Hareb, CEO of Economic Zones World at a ceremony held in Jafza.
Under the agreement, Economic Zones World will provide the Dubai Economic Council with data and reports related to Jafza and coordinate with DEC to procure similar information from the other economic zones in Dubai. It will also enable the Council to use the data and conduct surveys and studies.
DEC’s comprehensive study of the current export structures and export related data in the Emirate’s free zones will contribute to the development and implementation of new policies, which will enhance the investment climate in Dubai and the UAE.
HE Hani Al Hamli Secretary-General of the Dubai Economic Council said: “Promoting institutional integration among the various Government bodies in order to enhance the economic development in Dubai is a vision of the leaders of this nation. Our cooperation agreement with Economic Zones World is an extension of this vision. The results of this micro-economic study will help the Government formulate a policy which will enhance productivity and competitiveness of local companies in international markets.”
Salma Hareb, CEO of Economic Zones World said: “Decision making must be driven by quantitative and scientific research; and policies must depend on factual data sourced from companies and institutions that are an integral part of this economy. Jafza’s integrated approach to the Dubai economy has been fundamental to its success. It is a responsibility to play a key role in the creation of this research. I believe our work with DEC is therefore obligatory to facilitate policies for the benefit of a sustainable Dubai economy.”
Commenting on the role of Economic Zones World in Dubai’s economy Al Hamli added: “Economic Zones World has been one of the key drivers of Dubai’s phenomenal growth in the last two decades. Jafza, which is home to more than 6500 companies operating in various sectors, has facilitated establishing Dubai as an important economic hub, both regionally and globally.”
The Dubai Economic Council recently began cooperation with Jafza together with Dubai Statistics Center and the Center for Global Development (based in Washington) to conduct a comprehensive study in the UAE to evaluate the investment climate and productivity of companies operating within Dubai. The study will also identify the structure of exports in the Emirate according to the Enterprise Level Survey (ELS) methodology adopted by the World Bank. The ELS is widely considered to be the world's most comprehensive company-level research tool to analyze micro-economics of emerging markets and developing economies.
The aim of this survey is to critically analyze the business environment in Dubai including the free zones. The study will serve as reference to various government institutions and economic decision-making centers in the Emirate in preparing the state’s strategic plans.
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