The Public Authority for Special Economic Zones and Free Zones (OPAZ) and the Gulf Organization for Industrial Consulting (GOIC) have signed a Memorandum of Understanding (MoU) in the field of industrial and economic consultancy, aiming to foster growth and sustainability.
The MoU was signed on behalf of OPAZ by Sheikh Dr. Ali Masoud Al Sunaidy, Chairman of OPAZ, and on behalf of GOIC by Ahmed Mohammed Al Mohammed, the Chief Executive Officer of the organization. It outlines cooperation and the provision of consultancy services to enterprises operating within economic zones, free zones and industrial cities.
The MoU places particular emphasis on providing expert advice for the establishment of specialized industrial clusters in areas supervised by OPAZ, while also leveraging GOIC’s extensive expertise in supporting the transition to modern and advanced manufacturing technologies, upgrading and enhancing production lines, assisting and empowering existing industrial enterprises in free zones and industrial cities, and training, qualifying, and upskilling their workforce.
Furthermore, the agreement also encompasses the exchange of reliable industrial data, comprehensive information, and detailed economic feasibility studies for prospective new projects and future investment opportunities.
Through this MoU, both sides aim to promote the sustainability of projects within free zones and industrial cities, in addition to assessing potential investments. The cooperation is also expected to maximize the benefits for small and medium-sized industrial enterprises, enhance their competitiveness, and link them to large-scale projects.
Notably, OPAZ oversees a total of 23 economic zones, free zones, and industrial cities, of which 16 are currently operational while 7 remain under development, encompassing a wide range of economic activities and sectors. Industrial activities constitute the cornerstone of these zones, representing approximately 79 percent of the total investments attracted within them.
