"Dubai is home to some of the world’s most successful free zones"

The 9th edition of the Annual International Conference and Exhibition (AICE) is being hosted today and tomorrow by the World Free Zones Organisation (World FZO) in Dubai. In an exclusive interview with GN Focus, Dr Mohammad Al Zarooni, Chairman, World FZO elaborates on the AICE 2023 theme and what it entails for free zones globally and locally.

What is the significance of Dubai being the host city of the 9th edition of the Annual International Conference and Exhibition (AICE) this year, organised by the World Free Zones Organisation? What does it mean for the local and regional free zone community and for the UAE?

Dubai’s selection as the host city for the 9th edition of the Annual International Conference and Exhibition (AICE) organised by the World Free Zones Organisation (World FZO) is significant for both the local and regional free zone community and the UAE as a whole. Dubai is home to some of the world’s most successful free zones, including Dubai Airport Free Zone, Dubai International Financial Centre (DIFC), and Jebel Ali Free Zone (JAFZA). By hosting the AICE, Dubai and the UAE demonstrate their commitment to the free zone model and their readiness to engage with the global free zone community.

Please elaborate on the AICE theme for the current edition — Zones, an ecosystem of trust.

The theme essentially means what it says, underscoring the importance of trust in free zone operations. Trust is the foundation of any successful business relationship, and free zones are no exception. The theme emphasises the role of free zones in facilitating trade and investment by creating an ecosystem of trust that attracts businesses and investors from around the world.

AICE is also a platform that will see global minds discussing issues critical to the sector. Highlight some of the main talking points across the AICE agenda.

The AICE agenda covers a range of critical issues facing the free zone sector, including sustainable development, digitisation, supply chain management, and innovation. Some of the main talking points across the AICE agenda include:

1. Can an ecosystem of trust play a role in fostering trade across the supply chain and what is the relationship with safe zones?

2. Is trust really considered an essential element of resilience in zones to confront major traumas or challenges? How do zones mobilise and deploy the massive investments required for risk mitigation? What are the winning strategies to keep trust as a strategic priority?

3. How data and digitalisation can build trust, transparency and governance.

4. Digital trust is a must have for zones’ customers/ investors. How can zones ensure they deliver?

UAE free zones have set the bar for free zones worldwide. What are the expected takeaways for them from AICE this year?

The UAE’s free zones can benefit on several fronts from the AICE this year including gaining insight into best practices, trends, and innovations in the sector. UAE free zones are recognised globally for their success, and AICE will provide them with an opportunity to share their experiences and learn from others. UAE free zones have set the bar for free zones worldwide, and they have an opportunity to showcase their achievements, network with industry experts, and explore opportunities for growth and innovation.

How critical will the role of technology be in transforming free zone business models, and which are the areas you feel the sector will experience maximum impact?

Technology will play a critical role in transforming free zone business models. Areas that are likely to experience maximum impact include supply-chain management, logistics, and automation of processes. Technology can also enable free zones to enhance customer experience and increase operational efficiency. The use of technology such as blockchain can enhance transparency and security in free zone operations. Additionally, the adoption of artificial intelligence (AI) and machine learning can enable free zones to analyse large volumes of data, identify patterns and trends, and make informed decisions.

As Chairman, World FZO, how do you see free zone business models evolving globally over the next five years and the role UAE free zones will play in this evolution?

I see free zone business models evolving to become more diversified, sustainable, and tech-driven over the next five years. The role of UAE free zones will be critical in this evolution, as they continue to set the benchmark for free zones globally. The UAE’s strategic location, world-class infrastructure, and business-friendly environment will continue to attract businesses and investors to its free zones, driving growth and innovation in the sector.

In conclusion, Dubai’s selection as the host city for AICE 2023 is a testament to the UAE’s commitment to the free zone model and its leadership in the sector. The theme of the current edition of AICE emphasises the importance of trust in free zone operations, and the agenda covers critical issues facing the sector, including sustainable development, digitisation, supply chain management, and innovation. UAE free zones have set the bar for free zones worldwide, and AICE provides them with an opportunity to showcase their achievements, network with industry experts, and explore opportunities for growth and innovation. Technology will play a critical role in transforming free zone business models, and UAE free zones are well-positioned to leverage technology to enhance their operations and drive growth in the sector.