Page 319 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

9/29/24, 12:12 PM PRESSR: World FZO’s 10th Annual World Congress concludes in Dubai with 2000 attendees from 136 countries — TradingView …
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

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