OPAZ signs MoU to enhance industrial and economic consultancy

The Public Authority for Special Economic Zones and Free Zones (OPAZ) and the Gulf Organization for Industrial Consulting (GOIC) have signed a Memorandum of Understanding (MoU) in the field of industrial and economic consultancy.

It was signed on behalf of OPAZ by H.E. Sheikh Dr. Ali bin Masoud Al Sunaidy, Chairman of OPAZ, and on behalf of GOIC by H.E. Ahmed bin Mohammed Al Mohammed, the company’s CEO.

The MoU outlines cooperation and the provision of consultancy services to enterprises operating within economic zones, free zones and industrial cities. It places particular emphasis on advising the establishment of specialised industrial clusters in areas supervised by OPAZ, as well as leveraging GOIC’s expertise in supporting the transition to modern manufacturing technologies, upgrading production lines, assisting existing industrial enterprises in free zones and industrial cities, and training and qualifying their workforce. The agreement also covers the exchange of industrial data, information and economic feasibility studies for new projects.

Through this MoU, both sides aim to promote the sustainability of projects within free zones and industrial cities, in addition to assessing potential investments. The cooperation is also expected to maximise the benefits for small and medium-sized industrial enterprises, enhance their competitiveness, and link them to large-scale projects.

It is worth noting that OPAZ supervises 23 economic zones, free zones and industrial cities, of which 16 are operational and 7 are under development, covering various economic activities. Industrial activities represent the cornerstone, accounting for around 79% of total investments in these zones.