The Special Economic Zones Forum
(Free Zones, Industrial Zones and New Economic Cities)
UNDER THE PATRONAGE OF H. H. SHEIKH DR. SULTAN BIN MOHAMMED AL-QASSIMI, MEMBER OF THE SUPREME COUNCIL, RULER OF SHARJAH
Many Arab countries have set up free zones, industrial zones and special "economic cities" as an essential part of their development plans, and economic reform and liberalization programs. These areas are generally characterized by a complete modern infrastructure, an investment environment that facilitates investment projects and business activity, property ownership rights for foreign investors, and a number of economic and fiscal incentives that help attract direct foreign investment. There are currently more than 35 free zones in the Arab world distributed amongst 13 countries, in addition to an increasing number of industrial zones and special economic zones, and these have undoubtedly contributed to the development of the industrial, trade, tourism, and services sectors in the countries concerned, as well as to total growth, employment opportunities and incentives to improve the labor force through education and training. Current plans and projects aim at the establishment of more of these zones, and give particular importance to the concept of new economic cities that combine special economic zones with modern, integrated residential cities.
However the global financial and economic crisis has brought unprecedented challenges to the special zones in the region, including tight liquidity, shrinking investment and trade flows, and the real threat of a return to more protectionist policies in developed countries.
In this context The Special Economic Zones Forum (Free Zones, Industrial Zones and New Economic Cities), was be held at Radisson SAS Resort Hotel, Sharjah on 10-11 May 2009, acquired special importance as it provided an unprecedented and timely opportunity for a comprehensive assessment of the performance of economic zones in the Arab world, the challenges that now face them and the means to deal with these challenges.
The Forum, held under the Patronage of H.H. Sheikh Dr. Sultan Bin Mohammed Al-Qassimi, Member of the Supreme Council, Ruler of Sharjah, was organized by Al-Iktissad Wal-Aamal Group and the Sharjah Economic Development Department (SEDD). Speakers and participants will include government ministers and policy makers, officials in charge of the most successful economic zones in the area, Arab investors and industrialists, and representatives of international organizations, foreign companies, financial institutions and development authorities and funds.
Main topics on the agenda of the forum included:
- The Arab experience in the establishment of special economic zones and the lessons learned so far.
- Impact of the global crisis on the Arab world and on the future of special economic zones in the region with emphasis on the financing gap, the drop in foreign investment and world trade and the revival of protectionist trends.
- Conditions for the success of special economic zones, their future economic viability and prospects for such zones in Sharjah and the UAE generally.
- Effectiveness of laws and incentives developed for the special zones in attracting foreign investment.
- Future investment opportunities available in free zones, industrial zones and the new economic cities.
