The Challenge
High-ranking government officials were tasked to evaluate shutting down or keeping the Free Zone operational due to its nonfinancial performance. The group was consulted to support expediting the planning and execution of a turnaround.
Actions
- The group started with reviewing the Free Zone authority decree/law. In parallel, commenced the development of rules and regulations for the FZ.
- Once the initial partnership agreement was signed, the team mobilized to develop products, services, and processes.
- Within 8 weeks, the operational team mobilized. The team included customer attraction and customer servicing professionals
Result
Companies Attraction:
- The FZ attracted 142 companies from 2009 – 2021
- The group attracted over 12,000 companies from 2021– 2023
Cashflow:
- The FZ had a Negative cashflow.
- The group generated positive cash flow from day 1 of operation to the authority.
