[ad_1]
The Dubai Airport Free Zone Authority (DAFZA) and the Turin Chamber of Commerce have signed a Memorandum of Understanding (MoU) to strengthen efforts to attract foreign direct investment in Dubai and support foreign companies to do business in the emirate. The agreement will help attract Italian companies to do business in the free zone.
The signing was made during the visit of the official delegation of the Turin Chamber of Commerce to the Dubai Airport Free Zone. The agreement was signed by Yousuf Ali Behzad, Assistant Director-General for Staff Growth and Corporate Strategy, and Dario Gallina, Chairman of the Turin Chamber of Commerce. Business. The memorandum of understanding established a new phase of partnership between the two parties by establishing a framework for cooperation aimed at supporting the business and investment sectors, as well as companies, investors and entrepreneurs.
The Memorandum of Understanding stipulates that the Dubai Airport Free Zone will promote Dubai and its global leadership as an important business center for Italian companies through a series of initiatives, seminars and official visits. In addition to providing special incentives for Italian companies under the umbrella of the Turin Chamber of Commerce, this will emphasize the strategic benefits of operating in the Dubai Airport Free Zone. Incentives include competitive prices and all related requirements for setting up a business, as well as support for communication with other parts of the emirate.
The memorandum of understanding also provides specific support for SMEs, and DAFZA provides services and incentives through its ScalityProgram to promote the establishment and operation of such enterprises. In return, the Turin Chamber of Commerce will encourage Italian small and medium-sized enterprises to benefit from the plan, join the commercial establishment system of the Dubai Airport Free Zone, and set up branches there to enter the UAE and regional markets.
The Turin Chamber of Commerce promotes DAFZA among Italian companies by encouraging Italian companies to actively participate in initiatives, seminars and official visits organized by free zones. DAFZA represents a vital business environment that will enable Italian companies to expand and reach a wider consumer base.
Yousuf Ali Behzad, Assistant Director-General, Human Growth and Corporate Strategy, said: “Dubai is currently in a phase of full recovery from the economic impact of the COVID-19 pandemic on global business and investment, and has achieved extraordinary results during this period. In the past, this consolidated its position as one of the most important economic destinations, and the company sought to relocate in order to benefit from its flexible, dynamic and advanced economic environment and the incentives it provided. We and Turin, Italy The cooperation of the Chamber of Commerce reflects DAFZA’s efforts to strengthen its global network of relationships and support foreign companies and investments in the Emirate of Dubai.
“The Memorandum of Understanding allows more than 220,000 companies under the Turin Chamber of Commerce to benefit from the commercial system provided by the Dubai Airport Free Zone. Based on years of experience, we focus on providing solutions, services and incentives. The Memorandum of Understanding has also opened up for companies from DAFZA Provide high investment incentives to enhance the integrated system benefiting the door. They will benefit from providing customers with excellent experiences that will support the growth and prosperity of their business, and DAFZA has successfully provided it for more than two decades,” Behzadadd said .
“The signing of this strategic memorandum of understanding with DAFZA is an important step in the international development of the Turin Economic Zone. By strengthening this cooperation, we will be able to promote and promote business exchanges throughout the Middle East and North Africa. Our SMEs will be able to benefit from a wide range of “Professional services such as our customized assistance on import and export issues in one of the main business-friendly free zones in the Middle East, business support facilities and favorable hosting opportunities,” said Dario Galina.
According to the memorandum of understanding, the two parties will exchange information and data to support their strategic goals and will share this information with companies seeking to do business in Dubai, and vice versa. They will also provide professional support in various fields such as logistics services, air transportation, aviation, energy, technology, heavy machinery, electronic equipment, gems and metals, food, beverages, consumer products, pharmaceuticals and medical equipment.
European companies are generally the second largest group using DAFZA as their headquarters and operating base. In terms of nationality, European companies are second only to Middle Eastern companies. According to DAFZA’s 2020 financial and operating results, they account for 21.5% of free zone companies, followed by Asian companies. This is the second memorandum of understanding signed with the Turin Chamber of Commerce. The first agreement was signed in 2020 for the establishment of the Halal Trade and Marketing Center (HTMC), which is a comprehensive service center for the Halal Department of DAFZA.
[ad_2]
Source link