ECA signs MoU with Dubai to boost investment

The Economic Cities Authority (ECA) and the Dubai Airport Freezone Authority (DAFZA) recently signed a memorandum of understanding (MoU) to increase investments and exchange knowledge.
A DAFZA delegation led by Director General Mohammed A. Al-Zarooni met ECA Secretary- General Mohanud A. Helal and other executives.
Al-Zarooni said: “Our cooperation with ECA is part of DAFZA’s strategic efforts to create a stimulating environment and an attractive destination for foreign direct investments (FDI)... This MoU contributes to leveraging strong ties between the UAE and Saudi Arabia. The two economies have significant capabilities as they are both recognized as the most powerful economies in the Gulf Cooperation Council (GCC) and the Middle East...”
Welcoming the DAFZA delegation, Helal said: “This MoU serves to strengthen our relationship with the aim of cooperating with DAFZA in all possible fields in order to contribute to the achievement of our mutual objectives. The visit is an opportunity to exchange views on the working mechanisms and challenges, and strengthen the level of coordination between ECA and DAFZA.” The MoU provides for an exchange of knowledge, best practices and cooperation between both parties through workshops, meetings and loan programs.
Before the signing ceremony, a workshop on the development and operation of bonded zones was held.