The Higher Corporation for Specialised Economic Zones (ZonesCorp), responsible for creating strategic industrial clusters in the emirate of Abu Dhabi, has signed a co-operation agreement with the Ministry of Economy.
The memorandum of understanding will help increase co-operation through the exchange of electronic data and information. It was signed at ZonesCorp by CEO Jaber Hareb Al Khaili and Mohammed Ahmed bin Abdul Aziz Al Shehhi, Undersecretary of the Ministry of Economy.
"This MoU opens the way to increased co-operation between ZonesCorp and the Ministry of Economy, reflecting our mutual interest to create a joint mechanism to provide the most efficient services to investors," said Al Khaili. "We view this partnership as a step forward in our strategy to become a solid base for industrial investment and an active player in the development of the national economy."
According to ZonesCorp, an independent authority set up by the government, the partnership aims to unify federal procedures for local industrial registration within a single joint mechanism, which sets up a framework for a centralised database between the two entities that will electronically maintain all information and official documents related to the issuance of industrial licences.
The sharing of information will centralise all procedures and services, also ensuring the observance of all policies and regulations.
Al Shehhi said: "The signing of this MoU falls within the ministry's strategy to strengthen and develop the industrial sector's performance in the UAE. The ministry's strategy for 2008 to 2010 emphasises industrial sector development and the promotion of its competitive capabilities on par with international industries.
"This memorandum represents a genuine sample of fruitful co-operation between the federal ministries and the local departments and authorities that help realise the government's objectives for a safe investment environment, and, in turn, attract more investors. Moreover, the agreement will eliminate repetition of work between the two institutions, resulting in a much higher level of efficiency."
ZonesCorp has appointed a liaison officer to co-ordinate between the two establishments, assuming the responsibility of maintaining all official documents and developing a suitable organisational and financial framework for the project.