By Courtney Trenwith
Agreement aims to increase investment and business links between tech-based firms
Dubai’s Tecom free zone has signed a memorandum of understanding with London’s Tech City to increase investment and business relations between the city’s technology-based companies.
The organisations agreed to share best practices and ideas, as well as support businesses from Dubai or London setting up in the respective city.
It will cover Dubai Internet City (DIC), Dubai Outsource Zone (DOZ) and Dubai Media City (DMC).
Joanna Shields, CEO of Tech City and the UK's Business Ambassador for Digital Industries, said the partnership would help technology businesses in London and Dubai grow internationally.
“Dubai Internet City pioneered the concept of a technology cluster in the region, and in just over a decade it has managed to become a global magnet for some of the world's fastest growing companies,” she said.
“Dubai and London share a common commitment to creating the best place to imagine, start and grow a business. I'm very excited to return here to share our success and learn from Dubai Internet City’s success.
“Together we will build a bridge that will enable entrepreneurs and the businesses they create to grow internationally.”
DIC and DOZ managing director Malek Al Malek said the MoU reflected Dubai’s desire to strengthen trade and knowledge links with the UK, particularly in the area of digital industries and technology.
“Championing partnerships and closer ties between companies in Tecom’s business parks and businesses in Tech City is absolutely vital for the future economic growth in both Dubai and London,” he said.