The Dubai Integrated Economic Zones Authority (DIEZ) and wasl Asset Management Group have signed a Memorandum of Understanding (MoU) to collaborate on Dubai’s Food Tech Valley project.
Under the MoU, DIEZ will offer operational expertise and solutions to ensure efficient implementation and 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.
In the presence of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, and Ms. Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, the agreement was signed by Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ and Mr. Hesham Al Qassim, CEO of wasl Asset Management Group, at the Dubai Airport Freezone.
DIEZ will employ global standards and best practices and build on 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, Prime Minister and Ruler of Dubai.
“DIEZ continues to consolidate its position as a pivotal contributor to improving Dubai’s attractiveness and competitiveness in trade, investment, and entrepreneurship. The Food Tech Valley in Dubai represents a strategic project focused both on sustainable development and economic growth, to adopt a culture that believes that nothing is impossible. Strategic partnerships are part of DIEZ’s vision to enhance its contribution to Dubai’s economic development, which is reflected in its cooperation with wasl to develop the Food Tech Valley.”
Mr. Hesham Al Qassim said that “We are pleased to join hands with DIEZ on this innovative project, which is in line with the government’s efforts to transform the UAE into a global hub for tech-based food and agricultural solutions. Our mandate at wasl is to facilitate business growth in food tech, and we will spare no effort in supporting partnerships and initiatives that will help achieve the UAE Food Security National Strategy 2051.”