Page 301 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

efficiency across ports, airports, and roads, while discussions also focused on carbon
reduction strategies, green economy regulations, and the importance of public-private
partnerships in adopting sustainable logistics technologies.

The ‘Future of Access to Finance’ session explored the evolution of free zones and their role
in regionalizing supply chains and creating job opportunities. Participants stressed the
importance of access to finance in driving foreign direct investment projects into new
areas, particularly in Asia and Latin America. Meanwhile, the ‘Future of Energy’ session
discussed the strategic role of free zones in connecting global energy markets, highlighting
the UAE’s leadership in renewable energy and the transformative potential of artificial
intelligence in energy management to enhance efficiency and sustainability.

Additionally, the session on the ‘Future of Manufacturing’ focused on the role of free zones

in enhancing education, workforce development, and economic growth. It emphasized the
importance of addressing misconceptions about free zones and the need to balance
formal education with vocational training. The session on the digital sector explored the
future of artificial intelligence, machine learning, cybersecurity, and data privacy,
highlighting the role of free zones in fostering innovation, digitization, and boosting foreign
direct investment flows.

Strengthening Regional Partnerships

The congress witnessed the signing of a Memorandum of Understanding (MoU) between
the World Free Zones Organization and the African Continental Free Trade Area (AfCFTA).
The MoU outlines the framework for bilateral cooperation in four key areas: policy
development, capacity building, information exchange, and promoting trade and
facilitating investments. The signing ceremony was attended by H.E. Dr. Mohammed Al
Zarooni, Chairman of the World Free Zones Organization, and H.E. Wamkele Mene,
Secretary-General of the AfCFTA.
The MoU outlines a collaboration between both parties to jointly develop policies aimed at
enhancing the business environment within free zones across the African continent, while

coordinating efforts to standardize regulations. It also includes the organization of
programs, workshops, and sessions for stakeholders and partners, along with the provision
of technical support and capacity-building initiatives for free zones and related
organizations.

Additionally, the agreement encompasses the exchange of knowledge, information, best
practices, market trends, studies, and reports. Both parties will also co-organize trade

missions, investment forums, and exhibitions, promoting investment opportunities in

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