Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), has signed a strategic partnership agreement with the Department of Science, Industrial Policy and Entrepreneurship of Moscow (DSIPE of Moscow).

DSIPE is an integrated free zone technology park, the executive body for developing and implementing national policies related to industrial, scientific and technological activities and innovations, among other key areas in the Russian capital.

Signed by Dr Juma Al Matrooshi, deputy CEO of Operations and Client Affairs at DSOA and Oleg Bocharov, head of DSIPE of Moscow, the memorandum of understanding (MoU) mandates the two organizations to collaboratively develop technology-based entrepreneurial projects.

The agreement also aims to facilitate the exchange of data and experiences in developing the industrial, technological and entrepreneurial sectors. The partnership will ensure the strengthening of collaboration through official delegation visits and exchange programs, as well as joint participation in conferences and trade shows. Under the agreement, both parties will focus on developing shared technology projects and exchange lessons learned as well as best practices.

Dr Al Matrooshi said: “This partnership with DSIPE of Moscow marks a vital step in our foray into a prominent market and strengthens the historical association shared by Dubai and Moscow, as well as the wider UAE and Russian Federation. Through collaborative efforts and the proactive exchange of experiences, we will be able to develop mutual technological competencies and establish cutting-edge industrial and technology-focused complexes in the two cities.”

He added: “We are confident that the unified efforts of the two organizations will positively impact each affiliate and help shape an ideal environment that encourages investments. We will work closely with the Department of Science, Industrial Policy and Entrepreneurship of Moscow in supporting entrepreneurs and small and medium enterprises, especially in the technology sector, to grow their business, develop their skills and raise performance levels and efficiency.”

The Department of Science, Industrial Policy and Entrepreneurship of Moscow encourages activities related to the scientific, industrial, technological and entrepreneurial sectors in Moscow. It also supports business development, plans for a suitable investment atmosphere, and develops specialized industrial areas in the city.

The Russian Federation is one of the most notable economic partners to the United Arab Emirates. Bilateral trade between the two countries amounted to more than $3 billion in 2015. Furthermore, mutual investments between the two exceeded $18 billion for the same year.

A wholly-owned entity of the government of Dubai, DSO operates as a free zone technology park for large enterprises, medium and small companies looking to set up their offices in Dubai. – TradeArabia News Service