DAFZA contributes to Dubai 10X initiative with B2B strategies

Monday 14 May 2018 00:26 CET | News

Dubai Future Foundation (DFF) and Dubai Airport Free Zone Authority (DAFZA) have developed two new B2B and stock exchange strategies under the Dubai 10X initiative.

The first strategy, a B2B smart commerce platform, is called Dubai Blink, and the second, a stock exchange dedicated to trading shares of free zone businesses, is named Free Zone Exchange – FZExchange, according to state news agency WAM.

Dubai Blink and FZExchange are two out of the 26 Dubai 10X initiatives from 24 Government entities in Dubai, chosen by a committee of experts and specialists after evaluating more than 160 ideas submitted by 36 parties in less than 365 days.

FZExchange is meant to enable foreign investors to tap capital in the region, without the need to return to their country of origin. Dubai Blink aims to encourage more regional and international companies to establish their headquarters in Dubais free zones and accelerate their trade and investment flows through digital trading.

The Dubai Blink project will be implemented in four phases. The first phase is set to start in Q4 2018, when DAFZA companies will be able to sign in. Later, companies registered in various free zones in Dubai will be able to avail of the project’s services, followed by companies in other UAE free zones. Dubai Blink will eventually be available to companies registered in free zones worldwide, though that timeframe has yet to be confirmed.

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Keywords: B2B, ecommerce, DAFZA, Dubai10X, Dubai Blink, United Arab Emirates, Dubai, Stock Exchange, digital trading
Countries: World