Fri 13-10-2017 15:29 PM

More Saudi investment inflows expected to UAE over coming period: ZonesCorp

ABU DHABI, 13th October, 2017 (WAM) -- The coming period will witness more Saudi investments flows into the UAE following the incentives provided by the Emirate of Abu Dhabi during the UAE-Saudi Business Forum, according to ZonesCorp Chief.

"The investment-conducive environment in Abu Dhabi is already drawing a large number of world investors and following the recent tax exemptions and incentives provided by government of Abu Dhabi for Saudi investors, KSA investments are expected to rise, specially in light of the privileged relations binding the two countries," said Saeed Issa Al-Khaili, Director General of ZonesCorp, a dynamic industrial development organisation launched in 2004 by the Abu Dhabi government.

As part of these incentives the ZonesCorp has provided Saudi investors 100,000 square metres of industrial land with a three-year lease grace period, he added Al Kheyali has hailed the significant role played by the Saudi-UAE Forum in reinvigorating the strong relations binding the two sisterly countries, specially at the business level.

The forum is the outcome of the "Determination Retreat" between the UAE and Saudi Arabia, which aims to enhance their trade and economic cooperation, strengthen their ties and create new investment channels, to promote diverse sources of income while attracting new economic investments and increasing their volume of non-oil exports.

WAM/Hatem Mohamed