The Dubai Integrated Economic Zones Authority (DIEZ) and wasl Asset Management Group, have signed a Memorandum of Understanding (MoU) that provides a framework for both parties to work closely on Dubais Food Tech Valley project. The two entities had previously collaborated on Dubai CommerCity, the regions first dedicated ecommerce freezone.

In the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, and Her Excellency Mariam bint Mohammed Saeed Hareb Almheiri, Minister of Climate Change and Environment, the agreement was signed by His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ and His Excellency Hesham Al Qassim, CEO of wasl Asset Management Group, at a ceremony held at the Dubai Airport Freezone, along with other senior officials and members of both entities.

Under the agreement,DIEZ will be providing their operational expertise and solutions to ensure efficient implementation and to achieve the highest returns for partners and contributors. The scope of the agreement includes provisions for alternate licensing options, special visas, expanding new services for Food Tech Valley covering customs, business set-up support, and a B2B marketplace, in addition to advisory and administrative services.

DIEZ will employ global standards and best practices and build upon its success stories in developing and growing economic zones that have markedly contributed to the national economy for over 25 years. The two parties will collaborate on several aspects of the project such as employing the latest technological innovations and sustainable methodologies to help achieve the goals of Food Tech Valley, an initiative that was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, said: "DIEZ continues to consolidate its position as a pivotal contributor to improving Dubais attractiveness and competitiveness in trade, investment, and entrepreneurship. It also continues to support the Dubai Government's continuous efforts to lay the foundations for a more integrated and flexible economy, based on diverse and sustainablesystems, innovative work processes, as well as knowledge, innovation, and advanced technology as the main drivers of sustainable development. The Food Tech Valley in Dubai represents a strategic project focused both on sustainable development and economic growth, which is inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to adopt a culture which believes that nothing is impossible. Strategic partnerships are part of DIEZs vision to enhance its contribution to Dubais economic development, which is reflected in its cooperation with wasl to develop the Food Tech Valley. We are pleased to witness the conclusion of this partnership, and we hope that it will achieve its desired goals.

His Excellency Dr. Mohammed Alzarooni, Executive Chairman of DIEZ emphasised on DIEZs commitment to support Dubais strategic initiatives that would boost economic activities and enhance the local business environments appeal as an investment destination for regional and global companies, noting that these are key factors to further diversify the economy.