Libyan Free Zones Authority Chairman visits Jafza for talks on cooperation

[tolibya]

Jamal Majid Bin Thaniyah, Vice-Chairman Dubai World and Group CEO, Ports and Free Zones World, said today that the rapid growth of Jebel Ali Free Zone (Jafza) in Dubai was a direct result of the focused customer-centric policies adopted by the authorities.

He was speaking during a meeting with Dr. Ahmed Saeed Al Shareef, Chairman of the Libyan Free Zones Authority.

Salma Hareb, CEO Jafza and Economic Zones World, attended the talks which covered the potential for cooperation between the two free zone authorities.

Welcoming Dr. Al Shareef, Mr. Bin Thaniah said: 'Today more than ever before there is an increasing need for economic cooperation among Arab states. Dubai World, in its position as an expanding global holding company, is committed to contributing to the economic development of the region.

'The rapid expansion of free zones in Dubai is a direct result of the liberal, customer-centric policies that Jafza had crafted for tiself over the years. These policies are an extension of the market-driven strategy that the Dubai government applies to its developmental plans.'

Mr. Bin Thaniyah briefed Dr. Al Shareef on current and future Dubai World projects, with particular emphasis on the activities of Economic Zones World,which is the Group's apex body to develop and manage its Global Economic Zones operations.

Jafza International, overseas arm of Jafza, currently operates free zones in Morocco, Djibouti and Malaysia, and has signed MoUs with respective government authorities in Salalah in Oman, Senegal in Africa and Incheon in South Korea, and operate free zones in their respective countries.

Ms Hareb elaborated on Jafza's role in the overall development of Dubai's economy, saying: 'Jafza has been an effective magnet for attracting foreign investment into the Emirate ever since its inception in 1985. Jafza is now home to more than 6,000 international companies including 140 of the Fortune 500. This expansion is the direct result of our efficiency driven customer-centric approach and policies. By empowering our business partners and customers, we fuel our own growth and the economic growth of the countries we operate in.'

Dr. Al Shareef said: 'We in Libya have observed Jafza's development with admiration. The main purpose of our visit today is to learn from Dubai's experience in developing and operating freezones.

'At the Misurata Free Zone in Libya we offer investors the standard 'Five Freedoms' privileges, including tax and customs exemptions.'

The zone occupies 430 hectares, including a portion of the Port of Misurata.

Dr Al Shareef briefed Mr Bin Thaniyah and Ms. Hareb on the policies and initiatives taken by the Government of Libya for the development, promotion and growth of free zones.

Libya is a member of the 1989 Arab Maghreb Union (AMU) linking Tunisia, Algeria, Morocco, Mauritania and Libya.

The AMU's stated objectives include the encouragement of free movement of goods and people, revision and simplification of customs regulations, and movement towards a common currency. [AMEinfo]