Saudi Arabia's Economic Cities Authority (ECA) and the Dubai Airport Freezone Authority (DAFZA) have signed a strategic memorandum of understanding aimed towards developing proposals that can help drive in more foreign investments to the Gulf region.
The MoU was signed by Mohammed Al Zarooni, director general of DAFZA, and Muhanud Hilal, secretary-general of ECA, DAFZA said in a statement on Sunday.
The MoU aims to create and reinforce key understanding between DAFZA and ECA – facilitating a smooth exchange of expertise and experience while also collaborating on joint high-value projects and investment opportunities.
The agreement also seeks to ensure smooth facilitation of the transactions of investors within their geographical scope who wish to expand their business, the statement added.
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