JAMAICA, 16th June, 2022 (WAM) — The World Free Zones Organisation announced that the Emirate of Dubai will host the ninth edition of the Annual International Conference & Exhibition (AICE) in 2023.
This was confirmed during the General Assembly meeting at this year’s AICE in Montego Bay, St. James, Jamaica.
Dr. Mohammed Al Zarooni, Chairman of the World Free Zones Organisation, accompanied by Andrew Holness, Prime Minister of Jamaica, Minister of Economy and Industry of Jamaica, and ministers of the Caribbean islands countries, inaugurated the activities of the eighth edition of the conference. This year, AICE featured more than 1,000 global speakers, policy makers, academics, multilateral organisations and global corporate leaders from more than 100 countries.
During a keynote speech at the conference, Dr. Al Zarooni stressed that the free zone sector is witnessing a quantum leap by transforming and expanding the scope of operations to broader areas, including technology-based industries such as banking, finance, financial technology, food technology, e-commerce among others.
“Since its inception in 2014, the World Free Zones Organisation has been playing a pivotal role in enhancing, developing and achieving growth of free zones across the globe. Free zones has proven their resilience by adapting to digital innovation, which is driving a significant resurgence and growth of the sector especially in the post-pandemic phase. Their flexibility to adapt to the changing business environment has enabled them to deploy the latest technologies and advancements including Blockchain, 3D printing, Metaverse and many other innovative areas. This has positioned them as pioneers in facilitating trade and connecting the bridges between different markets. It also has strengthen their position as leading organisations in providing cost saving and efficient operations for their customers, which leads to achieve sustainable development and prepare them for a prosperous future,” he added.
Dr. Al Zarooni also stressed on the importance of the continuity of business orientation towards e-commerce. It plays a key role in the supply and commercial operations between companies. Reports forecast that B2B e-commerce site sales will reach nearly $1.77 trillion in 2022, a 12 percent increase compared to 2021. It is also expected that e-commerce sales will reach $5 trillion in 2022 and $6 trillion by 2024.
Dr. Al Zarooni highlighted the importance of developing incentives for the services and packages provided in cooperation with government and private entities to enable the e-commerce sector increase its investment flows.