Day: August 30, 2022

DUBAI, Dr. Mohammed Al Zarooni, Chairman of the World Free Zones Organisation (World FZO), a global not-for-profit organisation, held a meeting with Rebeca Grynspan, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), in Geneva, as part of its global expansion and leadership growth strategies.

Apart from Dr. Al Zarooni and Grynspan, the others who attended the meeting were Samir Hamrouni, CEO, and James Zhan, Director, Division of Investment and Enterprise, UNCTAD.

During the meeting, the two parties identified areas for collaboration to enhance their economic strengths and create opportunities for growth and prosperity as part of their joint commitment to strengthening the platforms they provide.

World FZO and UNCTAD agreed to join hands to implement joint research projects that would quantify the economic impact of free zones on the local economy, Foreign Direct Investment (FDI) and international trade. In addition, the two parties agreed to collaborate to develop joint training programmes focussing on investment opportunities, trade facilitation, supply chains, leadership development and more by capitalising on its pool of experts, certified trainers and coaches in different domains.

World FZO will also offer UNCTAD access to one of its flagship tools, named the “Izdihar Index”, which translates to “Prosperity Index”, to identify areas of weakness within operational structures and to measure peak performance. The tool provides free zones with a roadmap to achieve maturity through the implementation of good practices that are continuously measured, reviewed and improved.

Dr. Al Zarooni said, “The World Free Zones Organisation is eager to develop strategic partnerships with international organisations as part of our ongoing commitment to stimulate global trade and ensure the growth of free zones around the world. Our alliance with UNCTAD will see the development of joint training programmes and research projects to benefit both parties, as well as access to our “Izdihar Index” to benchmark business excellence and economic contribution to promote prosperity for the world at large.”

“We look forward to working closely with UNCTAD, and we are confident that this strategic relationship will result in a multitude of beneficial results for our stakeholders and partners,” he added.

Commenting on the success of the meeting, Grynspan said, “Over the last decade, we have witnessed the impressive growth of the World Free Zone Organisation and its contributions toward sustainable growth and the promising future of free zones. Our alliance with the World Free Zone Organisation will enable us to combine our efforts and resources to support and advance the critical role of free zones in local economic recovery and restructuring the global value chain, particularly in Africa.”

She added, “We wish to express our gratitude to the World Free Zone Organisation for hosting the first annual Global Alliance of Special Economic zones conference. This annual conference is an important opportunity to address the most prominent and emerging issues related to special economic zones, as well as uniting key players in the sector to develop and create opportunities for regional and global partnerships.”

World FZO is the only globally recognised free-zone organisation dedicated to its members’ growth and prosperity. World FZO empowers its members to achieve their strategic objectives, make important connections, and put the industry’s most powerful insights, resources and tools at their fingertips.

Source: Emirates News Agency

ABU DHABI, The UAE financial markets on Tuesday posted gains of around AED4.1 billion in market cap fueled by continued upbeat sentiments at the realty and banking sectors and cash inflows by institutions and individuals alike.

Driven by Emaar, Dubai General Index (DFMGI) advanced 0.79 percent to 3,463.5927.16 pts, with the property blue chip closing higher at AED4.80 and AED6.04 for Emaar Development and Emaar Properties respectively.

Among other stocks, Emirates NBD, DEWA, and TECOM increased 0.74 percent, 0.77 percent and 1.25 percent, respectively.

Abu Dhabi index (FTFADGI) closed slightly 0.02 percent down to 9970.11 pts affected by conglomerate International Holding Company (IHC.AD), traded as ASMAK, slipping slightly down to AED338.800, after AED302 million of liquidity and FAB following suit to AED19.560.

Among other stocks, Alpha Dhabi rose 0.17 percent to AED24.240 and Multiply 0.46 percent up to AED2.180 while ADNOC Distribution moved 1.75 down to AED4.490.

Source: Emirates News Agency

DUBAI, The Ministry of State for Federal National Council Affairs (MFNCA) announced a partnership with the Federal Youth Authority (FYA), in line with the UAE Government’s directives and strategies to promote partnerships between federal government entities in the best interests of the country and its citizens.

The partnership will draft and implement a series of initiatives and projects to consolidate political awareness among the youth, as well as encourage them to contribute to parliamentary work, promote their proposals and jointly establish future and development plans.

An integrated action plan has set multiple short and long-term goals to ensure the highest levels of youth participation, according to the UAE’s youth empowerment and engagement model, under the National Youth Strategy and the UAE Centennial 2071.

The partnership was announced in the presence of Shamma bint Suhail Al Mazrouei, Minister of State for Youth Affairs, Tariq Hilal Lootah, Under-Secretary of the MFNCA, Saeed Al Nazari, Director-General of the FYA, and Sami Mohammed bin Adi, Assistant Under-Secretary for Support Services at the MFNCA, in addition to several directors and officials from both sides.

Al Mazrouei stressed that according to the UAE’s youth empowerment and engagement model, the National Youth Agenda has defined a range of development sectors, in line with the UAE Centennial 2071.

“In this context, I affirm our keenness to work under the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to invest in the energies of young people and direct them towards development, especially their political participation through parliamentary work, which has gained a pioneering and rich experience since the establishment of the Union and also involved active youth participation in decision-making and shouldering responsibility,” she said.

The cooperation of the FYA with the work of the MFNCA will enhance the participation of the youth in parliamentary work, which will help achieve the goals set by the state and distinctively position the UAE nationally and internationally by implementing qualitative initiatives that will enable young people to participate in parliamentary work over the next fifty years, she added.

Lootah stressed the partnership’s importance in promoting the culture of political participation. He highlighted the UAE’s parliamentary and raising parliamentary awareness among the youth, in line with the directives of the UAE’s leadership to empower this group through innovative processes, in addition to providing them with the tools they need to enhance their role in society, strengthen their ability to contribute to decision-making and nation-building, and enable them to partake in advancing the UAE’s stature towards further excellence and leadership, in the lead-up to the UAE Centennial.

He then affirmed the ministry’s commitment to building strategic partnerships with government entities around the country to achieve its goals, promote a culture of political participation among the youth, and invest in their potential, which, in turn, will support the ministry’s own activities.

Youth is a pillar of all plans for political advancement and the efforts to drive parliamentary development across the UAE. They are a key element in ensuring the success and preservation of the UAE’s track record of achievements, he added.

Al Nazari said the youth has played a key role in the Federal National Council (FNC) since its establishment, and the vision of the UAE’s leadership has enabled them to have an influential voice in the council.

He then highlighted the importance of the partnership in developing the capabilities of the youth and qualifying them to be influential partners in the comprehensive development process. The Emirati parliamentary experience is inspiring and provides an opportunity for young people to participate and use their tools, as well as take on their roles and refine their skills.

“We want young people to be able to participate effectively in drafting policies and define their role in developing solutions. We will ensure that we nurture talents and build capacities to form a deeper understanding of the country’s parliamentary experience,” he said.

The partnership includes organising specialist studies on youth interests and their professional and cultural needs in terms of political participation, as well as their role in spreading political awareness among society, issuing awareness brochures on political participation and its impact, and assisting those interested in participating in organising FNC elections.

The two parties also agreed to form an executive working group to supervise their work plan, according to set timeframes and performance indicators, to measure the output and effectiveness.

Source: Emirates News Agency