Thu 12-10-2017 22:50 PM
ABU DHABI, 12th October, 2017 (WAM) -- Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the emirate of Abu Dhabi, as well as Fujairah Terminals and Khalifa Industrial Zone Abu Dhabi (KIZAD), announced new special terms for Saudi nationals looking to invest in Khalifa Industrial Zone (KIZAD), which includes discounts on rent of warehouses, industrial land, offices and work stations during the UAE-Saudi Business Forum 2017, American Journal of Transportation reported.
Under the theme ‘Together Forever’, the forum was inaugurated by Sultan bin Saeed Al Mansoori, UAE Minister of Economy, Dr. Majid Al Qasabi, Saudi Minister of Commerce and Investment, and Saif Mohamed Al Hajeri, Chairman of the Department of Economic Development – Abu Dhabi. The forum welcomed high-profile decision makers from both countries who met to discuss avenues for cooperation in sectors such as industrial, energy, construction and financial services.
Saif Mohamed Al Hajeri, Chairman of the Department of Economic Development – Abu Dhabi, said: "I am happy to announce the new measures and procedures set in place by the Department of Economic Development which aims to encourage Saudi investors to establish industrial projects in the emirate of Abu Dhabi. These measures include maximum facilitation and exemptions from processes listed as part of the Trade initiative and Industry Pioneers initiative mainly exemption from lease contracts. Abu Dhabi Ports will provide the Saudi investor with several investment incentives in KIZAD, including discounts on rent of warehouses, industrial land, offices and work stations."
Commenting on the strong UAE-Saudi economic ties, Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, said: "We place great importance on Saudi investments and we support our leadership’s guidance on strengthening trade, business and industrial cooperation between the two brotherly nations and, to show our cooperation, we have announced a number of incentives for Saudi investors who seek growth into Khalifa Industrial Zone.
"Both countries have experienced accelerated growth in the past decade and we are eager to build on opportunities for further development and industrial as well as maritime success. We encourage Saudi investors to leverage the unique and strategic location of Khalifa Port and KIZAD, in addition to the privileges that both regional and international investors can avail at the Khalifa Port Free Trade Zone. Through these new incentives, we aim to encourage more Saudi companies to establish their businesses here in Abu Dhabi." he added During the forum, Abu Dhabi Ports also participated in a panel discussion entitled "Industrial Integration" which discussed the current and future of industrial investment opportunities available for both countries and showcased examples of investment opportunities in KIZAD and its industrial free zone.
Bilateral trade for Saudi Arabia and the UAE stands at AED 84 billion, while the UAE has AED 15 billion worth of investments in the kingdom.