TBY SIGNS MOU WITH UAQ FTZ

TBY, a leading research firm and publisher of annual economic resources on national economies, has signed an MoU with Umm Al Quwain's first free trade zone (UAQ FTZ).

Sultan Saeed Sultan Al Ali, Executive Director of Port Customs & Free Zones Corporation, Umm Al Quwain, and TBY's Country Manager for the UAE, Burcu Sapmaz, signed the MoU in the presence of Johnson M. George, General Manager of UAQ FTZ, and Lucia Cavero-Baptista, Country Editor of TBY, on October 20, 2016. The partnership agreement comes in light of the announcement of TBY's most comprehensive annual edition on the UAE's economy. UAQ FTZ will provide support in the production of The Business Year: UAE 2017, which will include a special section dedicated to the Emirate of Umm Al Quwain.

At the signing, Sultan stressed the importance of such an agreement. “This publication will be a good opportunity for UAQ FTZ to showcase our efforts in attracting businesses to Umm Al Quwain despite being new into the market. We are very glad that TBY chose the free zone as their partner and we are looking forward to move ahead with this partnership." George added: “We are very happy to partner with TBY in the Emirate of Umm Al Quwain. UAQ FTZ is a strategic initiative of the Government of Umm Al Quwain, with a mandate to provide the required infrastructure and incentives for the business community. I firmly believe that our association with TBY will be very fruitful for both organizations and predominantly bring in more investments to the Emirate of Umm Al Quwain."

The Business Year: UAE 2017 will act as a reference point for the global investor community and a vehicle to display the key economic drivers and competitive strengths of the country. In order to compile a complete representation of the ever-growing and diversifying economy of the UAE, TBY will work very closely with their partners—the UAE Ministry of Economy, with the advice and direction of the Executive Council.

UAQ FTZ is designed for SMEs and conglomerates looking to establish their manufacturing units in a safe and secure free trade zone environment and is one of the most attractive places for effective investment in the region.