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March 3, 2024

Dubai approves integrated economic zones strategy for 2024-26

Dubai Integrated Economic Zones Authority (DIEZ) has approved its new strategy for 2024-2026 that is aimed at enhancing the emirate’s economic performance and sustainable growth, driven by knowledge and innovation and contributing to the realisation of its strategic priorities, reported Wam.
Established in 2021, DIEZ aims to play a vital role in promoting economic growth in the emirate over the next three years.
It seeks to follow an economic roadmap aligned with the Dubai Economic Agenda, D33, supporting the D33’s ambitious vision for achieving sustainability, creating a vibrant market characterised by an array of investment opportunities, and promoting a future-ready business-friendly environment capable of adapting to changes and trends in diverse sectors.
The plan will further strengthen DIEZ’s mandate to promote Dubai’s standing as a leading regional and international destination for investment across various categories, thus contributing to the realisation of the emirate’s strategic priorities with respect to integrated economic zones.
DIEZ focuses on three strategic pillars: excel, grow, and enrich. Underpinning its commitment to excel are three priorities: strengthening DIEZ’s contribution to Dubai’s non-oil economy, advance as a market leader across its business portfolios, and creating a remarkable experience for clients, enabling their growth and success.
In the context of the grow pillar, DIEZ aims to pioneer the next high-growth industry economic zone in Dubai, invest in high-value businesses along the value chain, and position DIEZ as a leading global player in the realm of economic zones.
The enrich pillar will focus on elevating DIEZ’s value proposition through a range of new, high-quality products and services, besides contributing to building a sustainable future by adopting responsible environmental, social, and governance practices.
Unveiling the new strategy, DIEZ Chairman Sheikh Ahmed bin Saeed Al Maktoum said the plan will further strengthen its mandate to promote Dubai’s standing as a leading regional and international destination for investment across various categories, thus contributing to the realisation of the emirate’s strategic priorities with respect to integrated economic zones.
“Our new DIEZ strategy is built on an integrated framework based on careful planning that aims to improve the quality of services provided to businesses, investors, and companies from all sectors and of all sizes. Our objective is to enhance the vital role of free zones as a major contributor to the local and national economy,” he stated.
“This reinforces our commitment to strengthening Dubai’s position and that of the UAE as a global partner and an attractive, influential economic hub. These efforts are carried out in accordance with national directives and plans, in cooperation with our partners from the public and private sectors,” he added.
According to him, DIEZ’s ‘purpose’ highlights its commitment to “enable businesses, enhance lives, and foster a vibrant economy”.
At the same time, its ‘aspiration’ aims to “open a new world of infinite economic opportunities” based on a set of core institutional values including ‘togetherness’, a ‘passion’ to make a difference, ‘affinity’ through cultivating relationships, ‘customer success’ and a futuristic vision by encouraging forward-thinking and retaining an innovative mindset, stated Sheikh Ahmed.
Executive Chairman Dr Mohammed Al Zarooni pointed out that the approval of DIEZ 2024-26 strategy was an important step towards achieving the vision of Dubai’s wise leadership, said the Wam report.
“We aspire to make Dubai a preferred destination for investors worldwide and solidify its role as an essential link within the global trade network. This will be achieved by focusing on three strategic cornerstones: achieving excellence, growth, and enriching the economic landscape, as well as placing investors at the top of our priorities by striving to achieve their aspirations and providing products, services, and solutions that exceed their expectations,” noted Al Zarooni.
““The strategy serves as a roadmap for DIEZ to open a new world of infinite economic opportunity. We plan to leverage the promising potential within the emirate and work alongside our strategic partners to elevate it to greater levels of efficiency and effectiveness. This, in turn, will be advantageous to businesses and investors by applying best practices and providing top-tier support and services to Dubai’s economic community across various sectors,” he added.