500 business officials discuss investment prospects in KIZAD

Abu Dhabi / Emirates Business

In collaboration with more than twenty business councils from around the world, Khalifa Industrial Zone Abu Dhabi (KIZAD), a subsidiary of Abu Dhabi Ports, brought together more than 500 companies, investors, officials and diplomats to discuss investment opportunities in KIZAD and Khalifa Port Free Trade Zone (KPFTZ), the largest free zone in the Middle East.
The series of exclusive business and networking events culminated in the signature of two Memorandum of Understanding (MoU) between Abu Dhabi Ports and the Russian Trade and Economic Development Council, on one side, and the China Council for the Promotion of International Trade, on the other. Both agreements aimed at raising awareness among Russian and Chinese companies about the opportunities offered by KIZAD and KPFTZ.
Reflecting on the value of such gatherings for potential investors and businesses, Captain Mohamed Juma Al Shamisi, Chief Executive Officer of Abu Dhabi Ports, said: “With a growing number of free zones being launched across the Middle East, differentiation and customer dedication are paramount. More than 130 investors have already trusted us by setting up their home base in KIZAD. We want to continue creating win-win opportunities for expanding businesses in a wide range of sectors by really listening to their needs. Our end goal is to offer tailored industrial and logistic solutions with highly competitive advantages coupled with world-class infrastructure”.
Fahad Al Ahbabi, Director at the newly launched Abu Dhabi Investment Office, joined forces with ‘KIZAD Business Week’ to provide a detailed overview of the Abu Dhabi Economic Vision 2030, shedding light on how economic diversification is bringing massive benefits to investors in the UAE and the emirate of Abu Dhabi. He shared insights about the economic policies driving the emirate’s diversification agenda stressing that; “Gatherings such as ‘KIZAD Business Week’ contribute to the emirate’s strategy for diversification. They help raise awareness, not only about the concrete business opportunities offered by KIZAD and KPFTZ, but also within the emirate of Abu Dhabi and across sectors as varied as healthcare, food and beverage, finance, hospitality, IT and construction. We have been delighted to be part of such a successful initiative and hope we will be joining forces again in the near future”.
‘KIZAD Business Week’ was organised in collaboration with the Russian Business Council, American Chamber of Abu Dhabi, Chinese Business Council, Indian Business and Professional Council, Pakistan Business Council, Australian Business Council and the South African Business Council in Abu Dhabi. The German Emirati Joint Council for Industry & Commerce took the lead in coordinating with each of the European business councils including from Austria, Sweden, the UK, France, Netherlands, Italy, Finland, Norway and Spain. The American Chamber of Abu Dhabi, AmCham, took the lead in coordinating with the Canadian Business Council Abu Dhabi and Dubai, the Chilean Embassy in Abu Dhabi, ProEcuador, ProMexico, the Embassy of the Republic of Panama and the Embassy of Uruguay.
During the panel discussions, participants agreed that diversification remains one of the major drivers for the continued expansion of the UAE economy. In that context, free zones represent one of the key tools to attract foreign direct investments and creating jobs.
China is the UAE’s top trade partner – with trade between the two economies crossing $35 billion in the first 9 months of 2017. Captain Wang Song, Chairman of Chinese Business Council said: “We look forward to more occasions where representatives from Abu Dhabi Ports and companies from China can come together to discuss the new trends and shifts in global economy as well as how to best capitalise on them.”
Saleh Al Aroud, President of the Russian Business Council, said: “The UAE offers high level infrastructure and logistics hubs such as KIZAD and KPFTZ which enable the country to compete in the global economy. Russian investors are always keen to look for opportunities in the UAE. I am confident that even brighter days are ahead of us for both of our countries.”
“In 2017, trade between the United States and the UAE totaled at $24.3 billion, with the US exporting $20 billion to the UAE. In addition, the UAE is among the fastest growing sources of foreign direct investment in the US,” said Sharief Fahmy, Chairman at AmCham Abu Dhabi. “The U.A.E. continues to be a beacon of prosperity and shining light in the Middle East. In that sense, KIZAD and KPFTZ are positioned to play a pivotal role in the continued expansion of the UAE economy. We hope to keep building a long-standing business relationship.”