Dubai: Jafza International, the global free zone operations arm of Economic Zones World, yesterday signed an agreement with Libya's Misurata Free Zone Authority (MFZ) to explore the possibility of moving forward with the development and operations of the Misurata Econ-omic Zone.
Salma Hareb, CEO Jafza and Economic Zones World signed the pact with Dr Muftah Azzuza, Chairman of the Board, Misurata Free Zone Authority, during the meeting to discuss options for the development of the MFZ.
Hareb said: "Libya's liberal economic policies and its strategic location make it an ideal gateway to Europe. MFZ fits well in our agenda of forming alliances and expanding operations to vital business destinations around the world."
Chuck Heath, managing director of Jafza International, said, "Over the past two years, Jafza has been heavily engaged as a consultant for the MFZ, assessing the commercial feasibility and designing the master plan of Misurata Free Zone, and under the agreement signed today, both parties will explore the possibility of either forming a joint venture or to grant Jafza a 30-year concession over the MFZ."
