The World Free Zones Organization (World FZO) marked a pivotal moment in its history as it celebrated its 10th anniversary at the World Congress in Dubai. The event, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, drew attention to Dubai’s expanding role as a global economic powerhouse. His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, inaugurated the event, underscoring the city’s commitment to shaping the future of global trade and economic development.
This year’s congress, held under the theme “Zones and the Shifting Global Economic Structures – Unlocking New Investment Avenues,” saw the launch of the World FZO’s new corporate identity, ushering in a fresh phase defined by three core pillars: Impact, Influence, and Trust. The organization’s rebranding signals its commitment to driving global economic progress, fostering sustainability, and creating inclusive growth opportunities through empowered free zones.
Dubai’s position as a leader in the free zone model is no accident. With cutting-edge infrastructure and a forward-looking approach, the emirate has transformed its free zones into dynamic hubs for trade, investment, and innovation. Sheikh Ahmed emphasized that Dubai is on course to become one of the world’s top three urban economies in the next decade, a goal aligned with the Dubai Economic Agenda (D33). This trajectory is driven by its status as a global hub for industries ranging from technology to healthcare and finance, all supported by the emirate’s advanced infrastructure and competitive environment.
The congress highlighted the role free zones play in not only national economies but also the global economic landscape. Free zones have become catalysts for growth, creating job opportunities, attracting investments, and fostering technological advancement. The UAE’s 44 specialized free zones, as noted by UAE’s Minister of Economy, Abdullah bin Touq Al Marri, serve as vital platforms connecting Asia, Europe, and Africa, while contributing to the competitiveness of the national economy.
Sheikh Ahmed’s presence at the event reinforced the centrality of free zones in the UAE’s broader economic vision, particularly as the country seeks to double its foreign trade to AED25 trillion by 2033. In the context of global economic uncertainty, the free zone model has proven resilient, responsible for facilitating $3.5 trillion in global exports annually, accounting for roughly 20% of global trade in goods.
The World FZO’s vision for the future is clear: empower free zones to be at the forefront of socio-economic development, innovation, and sustainability. By leveraging new technologies and embracing sectors like artificial intelligence, digital trade, and the Fourth Industrial Revolution, free zones are positioned to play a central role in shaping the future global economy. The launch of its new corporate identity represents a strategic shift, reflecting both the successes of the past decade and the opportunities for the future.
As the World FZO steps into its second decade, Dubai continues to play a critical role in shaping the narrative around global trade and free zones. With its visionary leadership, strategic location, and commitment to innovation, Dubai remains a beacon for investors, businesses, and governments worldwide looking to capitalize on the vast potential that free zones offer.
With over 1,600 members from 141 countries, the organization has facilitated the development of free zones, enabling countries to diversify their economies, create jobs, and attract foreign direct investment (FDI).
Africa is increasingly becoming a focal point for free zone development, offering untapped potential for industrialization and economic growth. As the continent pushes towards diversification, free zones provide an essential platform for African nations to engage in global trade, attract investment, and drive innovation. The African continent, home to rich natural resources and a youthful population, can benefit significantly from the expertise and frameworks developed by the World FZO.
Countries like China have exemplified how free zones can serve as engines of industrialization. China’s special economic zones (SEZs) have played a pivotal role in transforming its economy into the world’s manufacturing powerhouse. The success of the Shenzhen SEZ, which went from a fishing village to a sprawling industrial hub, demonstrates the transformative potential of free zones. China’s SEZs attracted billions in FDI, creating millions of jobs and propelling the country into global prominence.
In Africa, countries such as Morocco and Rwanda have started replicating this success. The Tanger-Med Free Zone in Morocco has become a significant gateway for African trade with Europe, serving as a model of how free zones can foster regional integration and industrialization. Similarly, Rwanda’s Kigali Free Trade Zone is laying the groundwork for the country’s transformation into an ICT and logistics hub.
The Islamic economy is another area where free zones can drive substantial growth. The global Halal economy is projected to reach $7 trillion by 2030, encompassing sectors like Halal food, pharmaceuticals, cosmetics, fashion, and Islamic finance. Dubai’s model of integrating Islamic economic principles within its free zones offers a blueprint for other nations. The Dubai Airport Free Zone Authority (DAFZA), for instance, supports Halal businesses with specialized zones designed to meet global Halal standards, thereby promoting Islamic economy sectors across the globe.
The World FZO, by fostering international cooperation and knowledge sharing, can help African and other Islamic economies develop their free zones to attract investments from key industries in technology, manufacturing, and finance. The success of Dubai’s Halal economy provides a powerful case for expanding this model across the Muslim world, particularly in Africa, where Islamic finance and the Halal economy hold immense potential for growth.
The Islamic Development Bank (IsDB) and the African Development Bank (AfDB) are critical institutions that can catalyze the development of free zones across Africa and Islamic economies. The IsDB has been at the forefront of providing financing and technical assistance to support infrastructure projects in member nations, including those in Africa. Its focus on infrastructure, capacity-building, and sustainable development is directly aligned with the goals of free zone development.
Through its various financial instruments, the IsDB can partner with African nations to establish and upgrade free zones, ensuring they meet international standards while promoting Islamic economic values. Moreover, the bank can fund Halal industry projects within free zones, stimulating trade and investment in sectors like agriculture, manufacturing, and logistics, which are crucial for the Islamic economy.
Similarly, the African Development Bank plays a pivotal role in driving Africa’s economic transformation. The AfDB’s focus on industrialization, infrastructure, and regional integration provides a strong foundation for supporting free zone initiatives across the continent. By financing large-scale infrastructure projects such as ports, airports, and industrial parks, the AfDB can help create the necessary conditions for African nations to establish competitive free zones that attract global investment.
As the World FZO steps into its second decade, it is time for African nations and Islamic economies to harness the power of free zones as catalysts for economic transformation. The successes of China, the UAE, and other global players provide clear evidence of the potential impact of free zones on industrialization, job creation, and economic growth. Africa, with its vast resources and growing population, must accelerate the development of its free zones to tap into global markets, attract FDI, and build sustainable economies.
We call on the Islamic Development Bank and the African Development Bank to prioritize the financing of free zone projects in Africa, aligning their efforts with the goals of economic diversification, industrialization, and Halal economy development. Additionally, governments across Africa must adopt policies that streamline free zone operations, ensuring a business-friendly environment that attracts global investors.
The Africa Islamic Economic Forum (AFRIEF) must continue its advocacy and support for the development of Islamic economies in Africa, using platforms like the World FZO to showcase the continent’s potential. By promoting the integration of Islamic finance, Halal industries, and free zones, AFRIEF can help position Africa as a leading player in the global Islamic economy.
This is Africa’s moment to step forward and seize the opportunities offered by free zones. Africa must embrace the vision of the World FZO and leverage the expertise of global partners to unlock new investment avenues, create jobs, and build a prosperous future for its people.
The time for action is now. Africa’s free zones must become the engines of its economic renaissance, driving industrialization, innovation, and global trade integration.