Dubai - Mubasher: Dubai Airport Free Zone (DAFZA) has signed a memorandum of understanding (MoU) with the Saudi Economic Cities Authority (ECA) to develop mutual investment opportunities.

DAFZA and ECA will also work on attracting more foreign investments to the Arabian Gulf region, through Saudi Arabia and the United Arab Emirates (UAE).

The agreement was signed on Saturday, with the aim of studying and identifying aspects of cooperation and exchange of expertise in different economic sectors, in line with the two countries’ directions for economic diversification and sustainability.

The two initiations will work together on organizing workshops, meetings and loan programs focusing on the laws of registration of companies, providing the necessary government services in accordance with the one-stop system concept, municipal services, planning and encouraging investments.

The MoU also states that both DAFZA and EEC will do their best to facilitate investor transactions within their geographical scope, with the aim of expanding their business.