Abu Dhabi has issued a resolution to establish a free zone council, which will oversee regulations that govern the respective areas in the emirate.
The Free Zone Council will start with proposing general policies for free zones and submitting them to the Executive Council, and creating an integrated database for the affairs of free zones, in coordination with relevant entities, according to the statement.
The council will be chaired by Mohammed Al Shorafa, chairman of the Abu Dhabi Department of Economic Development (ADDED).
As per the resolution, the Free Zones Council will conduct research on the operational affairs of free zones, propose suitable solutions to develop and support free zones, and coordinate with entities within free zones to exchange knowledge, experience, expertise, and practices.
The Council will begin by developing a system for holding meetings and voting on decisions. All free zone operational entities must commit to cooperating with the Council and providing all required information and data related to the Council’s authorizations, including the policies and strategic plans for each free zone, to establish the overall policy for Abu Dhabi’s free zones, as per the reports.
The Executive Council has directed the Free Zone Council to approve non-financial key performance indicators (KPI) for free zones with the assistance of ADDED.
The formation of the Free Zones Council is the result of studies and benchmarking of free zones, and it aims to keep up with the rapid growth of free zones and their role in supporting economic growth.
