Cayman Islands seek Dubai talks on Enterprise City

Top level delegation set to visit emirate to discuss partnerships on new enterprise zone proposal
Cayman Islands seek Dubai talks on Enterprise City
A model of the Smart City Kochi project, which Dubais TECOM Investments is involved in.
By Andy Sambidge
Sat 26 Mar 2011 10:30 AM

The premier of the Cayman Islands is set for talks in Dubai on a possible partnership deal for a proposed new enterprise zone.

Private developers of the technical and science zone say that it could create as many as 10,000 jobs in the Cayman Islands and generate $500m in revenue.

Premier McKeeva Bush is to bring a top level delegation to Dubai next week to meet officials to discuss possible tie-ups regarding the Cayman Enterprise City, Cayman Islands News reported.

Home to a number of free trade specialist zones, Bush is keen to tap into Dubai's expertise.

“The achievements of the United Arab Emirates as a pioneer and global leader in the development of the world’s best Special Economic Zones are unprecedented,” said Bush in comments published by the paper.

“We have identified great synergies between our jurisdictions and recognize that working cooperatively for mutual benefit can create enormous opportunities for both countries. As one of the world’s leading financial centres, the Cayman Islands seeks to partner with the best,” he added.

Barry G Hon, chairman of Hon Developments, one of the project developers, said the visit to the UAE was "enormously important to Cayman”.

According to a economic impact study by KPMG, the Cayman Enterprise City will contribute some 15 percent of the country’s GDP.

Dubai's TECOM Investments has been at the forefront of developing high-tech business parks both at home and abroad.

Dubai has an internet city and a media city, among a number of specialist zones and the company is also involved in SmartCity projects in Kochi, India and Malta.

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