Jafza International offers to extend full support to Russia in developing SEZs

Jamal Majid Bin Thaniah, Vice Chairman of Dubai World and Group CEO Ports and Freezones World, conveyed this to HE German Oskarovich Gref, Minister of Economic Development and Trade of the Russian Federation.

Their discussions covered cooperation between the Russian Government and Dubai World in infrastructure projects, with special focus on economic zones and ports.

In 2005 the Russian Federation established a far-reaching program to develop a network of Special Economic Zones, along with related infrastructure support systems, around the country as part of its economic development strategy.

The Russian officials placed special emphasis on seeking the expertise of Jafza International, the International arm of Jebel Ali Free Zone in developing the legal and regulatory framework of SEZs.

Mr Jamal Majid Bin Thaniah, Vice Chairman of Dubai World and Group CEO Ports and Freezones World, said: "Dubai World is very keen to cooperate with the Russian Federation to develop economic zones, ports, tourism and other related infrastructure. We have the requisite experience, skills and knowledge to undertake quality projects and can deliver real value to the Russian economic development agenda.

"We invite HE German Oskarovich Gref, Minister of Economic Development and Trade, and his colleagues to visit Dubai to further explore the proposals we have discussed today along with our specialists in Jafza International.

"Dubai World will expand its operations in Russia and establish an office in Moscow in the near future."

HE German Oskarovich Gref, Minister of Economic Development and Trade of the Russian Federation, said:

"Today's Russia offers unprecedented investment opportunities for reputable global investor such as Dubai World, particularly in logistics, transport andsupply chain industry. We invite Dubai World to seriously look at our emerging sectors like port and economic zones development in the waterfront regions of Russia.

"We thank Mr Jamal Majid Bin Thaniah for his kind invitation to us to visit Dubai and accept it. We have always admired the magnitude and quality of Dubai's growth during our past visits, and would like to learn from your experience."

The meeting was attended by a number of senior Russian officials, including Mikhail V. Mishustin, Head of Federal Agency for the Management of Special Economic Zone in Russia.

Mr Mishustin, speaking on the potential for cooperation with Jafza International, commented:

"Developing SEZs across the country is a top priority for our Government. Currently, two industrial production zones, four high-tech zones and seven tourism zones are under various stages of development. The plans also include port zones.

"Our laws and regulations are new and still to be tested, and we believe we could benefit from Jafza's vast knowledge in developing the legal and regulatory frameworks for our SEZs to attract investments and empower business growth."

The Dubai World Vice Chairman is in Moscow on a four-day (Pl confirm this) visit. On Thursday, he had met with HE Igor E Levitin, Minister of Transport of the Russian Federation, to discuss existing and emerging business opportunities in Russia, particularly in the ports, shipping and logistics sectors.