Ahmed bin Saeed launches DAFZA’s 'Strategy for Islamic Economy’

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Airport Freezone Authority, DAFZA, Chairman of Dubai Civil Aviation Authority and Chief Executive of Emirates Group, has launched the DAFZA 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 value-added and competitive advantage to DAFZA.

Sheikh Ahmed bin Saeed said that DAFZA’s Strategy for Islamic Economy is a response to the ‘Dubai - Capital of Islamic Economy’ initiative launched by the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. He explained that it has developmental perspectives and drive the national economy towards prosperity and sustainability.

The DAFZA Chairman affirmed his belief in authority's high level of competitiveness which ensures the best results in all the free zone's practical works to enable it to become among the most advanced free zones in the world. He emphasised the importance of the strategy in view of the rapid local and global growth of the Islamic economy, especially after the UAE was ranked first in the Arab World and second globally in the Global Islamic Economy Indicator.

The strategy is expected to attract more than 40 new investors in various sectors of the highly promising Islamic economy. A report issued by the Dubai Islamic Economy Development Centre covering the period from 2016 to 2017 estimates the global worth of the Islamic economy at US$1.9 trillion. It will also help place DAFZA at the forefront of global free zones that support this economy.

The strategy has various initiatives covering all aspects of the Islamic economy, including Sharia-compliant initiatives and others related to e-commerce and the Islamic economy. It also covers various initiatives that will define the future of the Islamic economy in the UAE and Dubai and will encourage Halal industries to follow its standards and encourage multinational companies to enter and invest in the Halal sector as well.

DAFZA will explore investment opportunities within high-priority markets that exported Halal products to the UAE in 2015 such as Singapore, India, France, the Netherlands, Italy, Britain, Germany, America, Turkey, China, Saudi Arabia, and Oman.