Middle-east Arab News Opinion | Asharq Al-awsat

DIFC Governor: We Aspire to be Among Best 10 Centers Internationally | ASHARQ AL-AWSAT English Archive 2005 -2017
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Dubai International Financial Centre. Omr Mohamed / Reuters

Dubai – Dubai International Financial Centre (DIFC) is aware of the huge expected demand on financial services in the region and world following the accelerated development of privatizing programs, economic diversification and financial integration, said DIFC Governor Essa Kazim.

Asharq Al-Awsat newspaper asked DIFC governor on the center’s strategy. Kazim pointed out to the DIFC’s 2024 strategy that aims at reinforcing the center’s position among the top ten best centers internationally.

“Our strategy is based on four areas: cementing basic cooperation and coordination among clients, enhancing infrastructure, reinforcing qualified personnel in the center and reinforcing access to the commercial channel among the south countries,” he added.

“How does the unstable international economic scene affect the financial market in Dubai?” asked the newspaper.

He replied, “The center has gained remarkable attention from financial firms, in the Arabian Gulf region, that wish to join the DIFC. Also through providing the best services and features in the Middle East, Africa and south Asia, the center is becoming a comprehensive international financial center that provides easy and continuous access to neighboring markets via a solid foundation of telecommunication network and a highly developed technology platform that is supported by an organizational environment based on English laws.”

“What are the major challenges facing the region from DIFC point of view?” asked Asharq Al-Awsat.

Kazim replied as follows, “The world is currently facing a number of challenges and circumstances ensuing from the enormous changes in the political scene such as the BREXIT and the results of the US presidential elections. The region, however, enjoys various strength points represented in the youths of business pioneering spirit and the economies moving towards more openness and diversification.”

When asked about the DIFC expectations for 2017 especially regarding growth and stability, he answered, “We were delighted by the financial performance in 2016 that surpassed expectations. Besides, we are aware of the challenges but are also certain that on the long term we will achieve success in implementing the DIFC’s 2024 strategy. We will continue to exert efforts to attract 1,000 financial firms and 50,000 employees, to reach a space of 5.5 million square meters of occupied spaces in addition to a total capital of USD400 billion. Steadily and confidently we walk towards these goals.”