Dafza and Saudi ECA ink agreement

dubai — The Dubai Airport Freezone Authority (Dafza) has disclosed the signing of a strategic Memorandum of Understanding (MoU) with the Kingdom of Saudi Arabia’s (KSA) Economic Cities Authority (ECA) that is aimed towards developing proposals and suggestions that can help drive in more potential foreign investments to the Gulf region.

The MoU was signed by Dr Mohammed Al Zarooni, director-general of Dafza, and Muhanud Hilal, secretary-general, ECA, in a formal signing ceremony held at King Abdullah Economic City.

According to Dafza, the MoU is aimed towards creating and reinforcing key understanding between Dafza and ECA — facilitating a smooth exchange of expertise and experience while also collaborating on joint high value projects and investment opportunities.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman, Dafza, expressed full trust and confidence in this signed agreement. He emphasised on the importance of the strong ties between the UAE and the KSA, which is made even stronger because of their common economic visions and rich historical and geographical similarities.

He noted the agreement would focus on significant value-adding initiatives to support FDI flows in the region from UAE and KSA, which goes in line with UAE Vision 2021 and Dubai Plan 2021 to lead the global competitiveness indicators and raise the attractiveness of the national economy to the investors.

— business@khaleejtimes.com