Post by : Badri Ariffin

The World Free Zones Organization convened its 12th annual Congress in Panama City, themed “Free Zones in the New Global Operational Model: Challenges and Opportunities.” This year's gathering underscored the pivotal role of economic zones in fostering trade, industrial advancement, and global connectivity.

Dignitaries including José Raúl Mulino, Luis Abinader, and Dr. Mohammed Al Zarooni, Chairman of the World FZO, officiated the event, which attracted 27 ministers and over 2,000 attendees from more than 70 countries, comprising CEOs, industry experts, and representatives from international organizations.

In his inaugural speech, President Mulino emphasized the importance of free zones in promoting economic liberty, enhancing international trade, and fostering national growth. He articulated that investment is essential for driving economic progress and elevating purchasing power.

Dr. Mohammed Al Zarooni pointed out Panama's significance as a critical access point to the Americas and a crucial hub for global commerce and investment. He remarked that with the evolving landscape of global trade influenced by geopolitical developments and technological advancements, the relevance of free zones has surged.

He also highlighted AI's transformative impact on customs operations, logistics predictions, compliance systems, and investor services, while stressing the role of sustainability in enabling free zones to promote eco-friendly industries.

Dr. Al Zarooni further asserted that governments are now recognizing free zones as vital strategic assets for driving long-term innovation and growth, rather than merely regulatory mechanisms.

Establishment of Caribbean Special Economic Zones Initiative

A memorandum of understanding was signed at the Congress to establish the Caribbean Special Economic Zones Regional Association, aimed at enhancing collaboration among Caribbean countries, standardizing practices, and bolstering trade and investment within the region.

Expansion of One Zone Digital Platform

The World FZO also unveiled an expansion of its “One Zone” platform, incorporating a new website and member portal designed to provide certification services, training, research, advisory support, and benchmarking tools, facilitating improved global connectivity within free zones.

Executive Leadership Programme Offering

Collaborating with INCAE Business School, the Congress introduced an Executive Leadership Programme for leaders from free zones. For the first time in Congress history, approximately 700 participants received digital certifications.

Study on Tourism Special Economic Zones

In addition, the event featured a collaborative white paper from the World FZO and the UN Tourism Organization, examining the impact of Tourism Special Economic Zones and their importance to future investment strategies through global case studies and research insights.

The report underlines the growing integration of tourism and economic zones, introducing innovative models for sustainable development and investment planning globally.

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