Sheikh Ahmed launches ‘DAFZA’s Strategy for Islamic Economy’
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Sheikh Ahmed bin Saeed Al Maktoum, chairman of the Dubai Airport Freezone Authority (DAFZA), has launched the ‘DAFZA’s Strategy for Islamic Economy’ which is based on strategic initiatives involving the Islamic economy and halal sectors.
The strategy will help attract more foreign direct investments (FDIs) to the sectors and support the ‘Dubai - Capital of Islamic Economy’ initiative. 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 a competitive advantage for DAFZA.
“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,” said Mohammed Al Zarooni, director general of DAFZA.
“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,” he 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.
The strategy is expected to attract more than 40 new investors initially.