DUBAI, 24 January 2007 - Dubai World yesterday launched Economic Zones World (EZW), a far-reaching enterprise initiative aimed at consolidating its unique strength in the development and management of economic zones and business hubs across the world.

Economic Zones World (EZW) has been created as a single commercial entity to look after the Dubai World's worldwide operations of free zones, special economic zones and activity-specific business and industrial zones.

Economic Zones World's current group profile includes Dubai's flagship venture Jebel Ali Free Zone (Jafza), its international arm - Jafza International, Techno Park and Dubai Auto Zone. "The Economic Zones World is well positioned to carry forward the mandate of Dubai World to bring new dynamism and strength to Dubai's role as a major economic powerhouse in today's market-driven world.

Its creation is a logical step forward in the evolution of Jafza, which is the Middle East's premier international business hub. The launch of Economic Zones World reinforces our policy of thinking big and planning ahead in order to take on future challenges," said Dubai World Chairman Sultan Ahmed Bin Sulayem.

Dubai World is rated as one of the world's largest holding companies. It was established to continue expanding Dubai's aggressive growth, domestically and abroad.

Economic Zones World and Jafza CEO Salma Hareb unveiled the logo of the EZW marking the official launch of the new entity. "The Economic Zones World is aimed at consolidating our inner strengths and resources. It is designed to provide the best support systems possible to enable existing businesses and prospective investors to grow without hindrance," said Hareb. "It will bring new energy to its four subsidiaries, and promote their local and international image as trend-setters. It is a reflection of our commitment to empowering businesses." Economic Zones World aims to achieve its aspirations by leveraging its existing strengths. It currently operates Jebel Ali Free Zone (Jafza), its international arm Jafza International, Techno Park and Dubai Auto Zone.

Jafza, which is one of the largest and fastest-growing free zones in the world, was established in 1985. Today it is home to about 6,000 companies from 120 countries, and plays a lead role in the burgeoning UAE economy.

EZW aims to capitalize on its highly customer centric Jafza Business Model to expand its operations in strategically important areas worldwide, and, in specific in the emerging economies in Asia, Africa, the Middle East, Eastern Europe, Latin America and other parts of the world. "With its current first-ever position and strong platform, Economic Zones World is all set to achieve long-term growth and profitability in its Dubai based and in international operations," Salma Hareb said.