DUBAI: Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of the Dubai Airport Freezone Authority (Dafza), has launched the ‘Dafza’s Strategy for Islamic Economy’ which is based on strategic initiatives involving the Islamic economy and halal sectors. The strategy will help attract more foreign direct investments (FDIs) to the sectors and support Dubai - Capital of Islamic Economy - initiative. It consists of three main directions and 20 strategic initiatives that will be implemented within the coming five years to help achieve the vision of making the Islamic economy more added value and competitive advantage to Dafza.

Sheikh Ahmed said that ‘Dafza’s Strategy for Islamic Economy’ 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.

He explained that it has developmental perspectives and drive the national economy towards prosperity and sustainability.

The Dafza Chairman affirmed his belief in Dafza’s high level of competitiveness, which ensures the best results in all the free zone’s practical works to enable it to become among the most advanced free zones in the world.

He emphasised the importance of the strategy in view of the rapid local and global growth of the Islamic economy, especially after the UAE was ranked first in the Arab World and second globally in the Global Islamic Economy Indicator.

Dr. Mohammed Al Zarooni, Director General of Dafza, said: “In the next five years, the ‘Dafza’s Strategy for Islamic Economy’ will enhance the role of the free zone as an effective partner in achieving the UAE’s aspiration of becoming a leader in all fields and categories. We are proud of our achievements over the past years and we look forward to a promising future that reinforces Dafza ‘s position as a leading hub for business, trade and investment. We are also 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.”

Dr. Al Zarooni added: “The Islamic economy is becoming increasingly important due to the high demand for Sharia-compliant products and services. By launching this new strategy, Dafza aims to broaden its role in the development of the Islamic economy sector, which conveys all the elements of success and growth of various economic sectors.

After conducting a comprehensive 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, and providing adequate support for existing customers that intend to enter the 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 ten initiatives that fully support existing and new investors seeking to expand their business and invest in the Islamic economy.