Abu Dhabi - MENA Herald: The Global Manufacturing and Industrialisation Summit (GMIS) has announced a strategic partnership with Jebel Ali Free Zone (Jafza), the UAE’s flagship trade and logistics hub, in a move aimed at accelerating economic growth and boosting trade, especially through manufacturing.
The decision to name Jafza, a free zone set up in 1985, as a Strategic Partner for the Global Manufacturing and Industrialisation Summit underscores the significance of trade and investment in the UAE with the global business community. Jafza accounts for 32 per cent of total foreign direct investment flown into the country. The free zone contributes 21 per cent of Dubai's annual Gross Domestic Product and it sustains more than 144,000 jobs in the UAE. In 2015, Jafza generated trade worth more than US$87.6 billion.
The Global Manufacturing and Industrialisation Summit is the world’s first global gathering for the manufacturing community, bringing together leaders in business, government and civil society to shape a vision for the sector’s future. Hosted by the Ministry of Economy and the United Nations Industrial Development Organisation (UNIDO), it aims to build strategic alliances that can leverage opportunities for industrial development, especially digital transformation, to restore global prosperity.
The Global Manufacturing and Industrialisation Summit’s partnership with Jafza is highly strategic. It aims to connect leading global minds across industry, government and civil society sectors with Jafza’s world-class business environment, extensive trade and logistics network. As the nation diversifies its economy, powered by plans such as the UAE Vision 2030 and Dubai Industrial Strategy, the ties between decision-makers in a well-supported ecosystem will be critical.
“Jafza is focused on long-term customer relationships and deepening ties with decision-makers who can help us to sustain economic growth,” said Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World and Chairman of Ports, Customs and Free Zone Corporation. “GMIS is a unique platform for Jafza to build these relationships and inform the global stakeholder community about the supportive business environment, trade and investment links that are available in Dubai. Jafza wants to form alliances with global investors by providing them with world-class infrastructure and support as well as quality-driven value-added services and incentives. We enable our customers to access business opportunities with ease and efficiency.”
Bin Sulayem added that the UAE’s industrial landscape has changed significantly over the years with a focus on developing industry and encouraging growth. Strategic plans to attract foreign and domestic investment have been backed by the creation of industrial zones across the country and by providing world-class infrastructure and operational facilities.
By partnering with the Global Manufacturing and Industrialisation Summit, Jafza will act as a key knowledge resource for companies looking to invest in the UAE, as well as sharing with them expertise in scaling locally and regionally. The Global Manufacturing and Industrialisation wants to spur the development of manufacturing capabilities, particularly among SMEs, and promote global value chains across sectors.
Badr Al-Olama, Chief Executive Officer, Strata and Head of the Global Manufacturing and Industrialisation Summit Organising Committee, said the partnership with Jafza demonstrated the connective power of the overall initiative.
“The Global Manufacturing and Industrialisation Summit aims to be a transformative platform for building close links between industry, government and civil society in pursuit of shared goals for the future of the country, the region and the global community,” said Al-Olama. “In Jafza, we have a partner with more than three decades of experience in helping to create sustainable prosperity in Dubai. By leveraging our collective expertise, we can create enormous shared value, especially in adapting manufacturing for the new age of automation. This, in turn, will have profound implications for communities so that the increasing interaction between humans and machines can improve lives and promote economic prosperity.”
This month, the Global Manufacturing and Industrialisation Summit will bring together world leaders from industry, Government and civil society to explore an outcomes-driven agenda focused on the manufacturing sector’s role in overcoming global challenges and creating sustainable industrial development. A crucial part of the industrial mix, manufacturing accounts for 17 per cent of global GDP and 84 per cent of exports in world trade.
