A 20-member student delegation from Drew University in the US visited Jebel Ali Free Zone (Jafza) to study one of the fastest growing economies in the world and examine the different strategies used to promote its economic development.
The students, who are here as part of their three-week visit to the UAE, have all completed a semester-long course on “Global Business in the UAE,” taught by Dr Nora Ann Colton, Professor of Economics and Business and Carlos Yordan, associate professor in Political Science at Drew University – both of whom accompanied the students on the visit.
The thrust of the course and its accompanying seminar is to examine the UAE economy - the role of oil, the importance of economic diversification, the growth of sovereign wealth funds, trade relationship between the state and the market, the booming tourism sector, the creation of free zones, the critical role of infrastructure, the importance of logistics, trends in employment, equity markets and banking and the challenge of globalisation among other strategic issues.
Senior officials from Economic Zones World, the parent organisation of Jafza, met the delegation and briefed them on the Free Zone’s various operations and projects.
The delegates learnt about Jafza’s dynamic business model and how it has become the leading industrial, warehousing and distribution hub in the Middle East contributing to the economic development of the Dubai and the nation.
Dr Nora said it was a great opportunity to be able to bring the students from Drew University to Jafza to learn about the exciting developments taking place in this important international free zone.
'Our students, mostly economics and political science majors, are part of an academic program at Drew University that involves taking a course on a particular region or country in the world and then visiting for three weeks.'
'Many of these students were fascinated to learn about the free zones in the UAE; consequently, many wrote their research papers on Jafza. After their visit to the UAE, they will return to the United States to edit and expand their papers based on their visit,' she noted.
'This was an excellent opportunity for us to have Jafza framed in the larger context of what we have come to regard in the West as the Dubai model. In general, I am thrilled to be able to bring university students to the UAE at this point in its history as I know that in the future it will not only impact the way they think about the UAE, but the Middle East as a whole,' she added.
Edward Wang, a student who wrote his research paper on Jafza said, it plays a very significant role in the future of Dubai's economy.
'It sets a model of how countries can use ports to provide solid revenue streams and development for their national economy. The development of its logistics and ports make it even more attractive for international companies to take advantage of other free zones in Dubai,' he remarked.
The students also visited Dubai Economic Council, the DIFC, Dubai Internet City, Emirates Nuclear Energy Corporation, DTCM, NYU Abu Dhabi, The Petroleum Institute and Adnoc among other companies and institutions.
-TradeArabia News Service