It will be based on initiatives involving the Islamic economy and halal sectors
Sheikh Ahmed bin Saeed Al Maktoum, chairman of the Dubai Airport Freezone Authority (Dafza), has launched the 'Dafza Strategy for Islamic Economy', which is based on initiatives involving the Islamic economy and halal sectors.
The strategy will help attract more foreign direct investment (FDI) and support the 'Dubai - Capital of Islamic Economy' initiative. It consists of three main directions and 20 strategic initiatives that will be implemented in the coming five years.
Sheikh Ahmed said the Dafza strategy is a response to the 'Dubai - Capital of Islamic Economy' initiative launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
Dr Mohammed Al Zarooni, director-general of Dafza, said: "We are eager to remain a key player in the development of the national economy and the Islamic economy in particular which has become a central sector within Dubai's economy. The Islamic economy promises prosperity and growth for investors and will positively influence the GDP of the emirate."
After conducting a study on the requirements of the Islamic economy market, Dafza built the strategy based on three main directions for the next five years. The first will focus on two key initiatives: creating a new source of revenue growth for Dafza by attracting investors in the halal sector. The second will emphasise Dafza's role as a major motivator for the growth of the Islamic economy and the local halal sector in Dubai by developing 10 initiatives that support existing and new investors seeking to expand their business and invest in the Islamic economy.
The third and final direction will involve eight initiatives that support the establishment of a halal ecosystem capable of attracting leading companies in halal industries that include food, fashion, pharmaceuticals and cosmetics, among others.
The Dafza strategy aims to attract more FDI into the Islamic economy to help the sector increase its revenues and double its contribution to Dubai's GDP. The strategy is expected to attract more than 40 new investors in various sectors of Islamic economy.