Ministry of Economy, Jafza sign deal

The Ministry of Economy signed a Memorandum of Understanding with Jafza as part of its efforts to strengthen the industrial sector in the country. The agreement was signed by Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary of the Ministry of Economy, and Salma Ali Saif Saeed Bin Hareb, CEO of Economic Zones World. The Memorandum of Understanding focuses on the development of industrial sector in the state. Both parties understand that the industrial sector is a key pillar of the national economy and, through the signing of this document, pledged their assistance to its growth. The new understanding means that Jafza companies will obtain all Certificates of Origin from the Ministry of Economy; this will facilitate the specific needs of Jafza industrial companies and help them to grow commercially. As part of the MoU, the Ministry of Economy agrees to provide awareness sessions for Jafza companies so that they can use the Ministry system with ease. Abdul Aziz Al Shehhi said: “I am delighted at the development of this essential partnership and how it will contribute to the growth of the industrial sector in the state. Such concerted efforts by concerned authorities, especially the field of industry, contribute to the stimulation of creativity and innovation. This supports the country as it heads towards becoming a truly competitive economy in accordance with the UAE 2021 Vision. The Ministry is keen, through this memorandum, to support all institutions involved in development efforts.” As part of the new agreement there will also be an increased level of communication and integration between the Ministry and Jafza. Both parties share the same goal of improved cooperation concerning investor delegations and economic events, and a desire to work together to overcome challenges and obstacles affecting investors. Speaking on the signing of this agreement, Hareb said: “This Memorandum of Understanding is a major step towards supporting both Jafza companies and, in so doing, the national economy. Jafza has taken major steps and implemented many initiatives through integration with a range of entities and Government partners, creating a unique business model that is reflective of Dubai’s model of business. This initiative will help Jafza industrial companies achieve their objectives and goals supported by the smooth facilitation of their transactions. I look forward to the promising future partnership with the Ministry of Economy.” This Memorandum of Understanding is the perfect embodiment of the dedication of both parties to the continued success of the industrial sector and the UAE economy as a whole. From gulftoday