Page 310 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

9/29/24, 11:57 AM World FZO’s 10th Annual World Congress concludes in Dubai with 2000 attendees from 136 countries
economic zones of the member states. Additionally, there was a focus on expanding activities to include
modern economic sectors that align with the requirements of the age of artificial intelligence, digital
trade, the Fourth Industrial Revolution, and advanced technologies.

The congress agenda featured plenary sessions on the future of logistics, energy, access to finance,

manufacturing, and the digital sector. Each session outlined the latest developments, challenges, and
solutions for these sectors. The ‘Future of Logistics’ session highlighted the UAE's use of automation
and the Internet of Things to increase 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.

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