DAFZA discusses future collaboration with Bank of China Delegation

The meeting took place at DAFZA Square Business Center to discuss future collaboration and business prospects

  
DAFZA discusses future collaboration with Bank of China Delegation

Dubai, UAE: Dubai Freezone Authority (DAFZA), represented by Director General, His Excellency (H.E.) Dr. Mohammed Al Zarooni, and a number of officials this week welcomed a delegation from the Bank of China, led by Executive Director of the Board Mr. Lin Jingzhen and senior delegates. The meeting took place at DAFZA Square Business Center to discuss future collaboration and business prospects.

During the visit, the Chinese delegation learned about DAFZA’s experience over the last two decades in attracting and increasing foreign direct investment. This has played a vital role in developing sustainable economic growth in Dubai, driving business across more than 20 key sectors. The delegation also heard about DAFZA’s latest services that are offered to international companies, particularly Chinese companies that are based in DAFZA.

The Chinese delegation was briefed on key strategic projects and initiatives led by DAFZA. These projects include Dubai CommerCity, the region's first, dedicated e-commerce free zone, and Dubai Blink, which aims to explore the future of global supply chains and trade by establishing world's first and largest trading platform for companies.

The DAFZA team also learned about the services and incentives provided by the Bank of China and discussed how the free zone can cooperate with the Bank through these services. They aim to enhance the benefits offered by DAFZA to clients and companies operating in the free zone. They learned about how the Bank can support business in the UAE in general and Dubai in particular, as well as its regional expansion plans.

H.E. Dr. Al Zarooni commented: “China is DAFZA’s third largest trading partner, representing 15.7% of trade at a value of AED 12.3 billion in the first half of 2019. DAFZA has played an influential role in Dubai's economy and non-oil foreign trade, which supports the vision of the Dubai government in driving economic and commercial growth. DAFZA is committed to providing support and investment incentives to Chinese companies looking to set up their businesses and manage operations from Dubai.”

“Some of the key drivers for success over the past two decades include the development of partnerships and international cooperation. We look forward to further consolidating our relationships in the interest of both parties and in supporting Chinese companies to expand their businesses in the MENA region through DAFZA,” added Al Zarooni.

DAFZA continued to further strengthen the ties with China through a series of initiatives focused on expanding bilateral trade and investments. The free zone signed a Memorandum of Understanding (MoU) with Liaoning Chamber of Commerce UAE to increase the collaboration between the two organizations and help create new business and investment opportunities with Liaoning province.

DAFZA also previously signed a MoU with China (Guangdong) Pilot Free Trade Zone (GDFTZ) – Nansha Area of Guangzhou (Nansha FTZ) and hosted roadshows in the Shenzhen province and Guangzhou. The roadshows have led to a significant amount of new company appointments with several high potential leads for new companies looking to invest in DAFZA and join a number of several prominent Chinese companies including Huiteng (Middle East) FZE, Hytera Communications FZE, Junhou International FZCO, Northwell, China Southern Airlines Branch and Oriental Sky Aviation FZE.

Ends

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases