- MoU will allow investors to establish, expand business operations across free zones
- Companies to work together to support Abu Dhabi’s economic growth
Abu Dhabi, United Arab Emirates; January 16, 2020 – Masdar, Abu Dhabi Future Energy Company, and Abu Dhabi Ports Company have signed a Memorandum of Understanding (MoU) to support the economic growth of the emirate of Abu Dhabi and achieve the objectives of the Abu Dhabi Economic Vision 2030.
The MoU was signed by Yousef Ahmed Baselaib, Masdar Executive Director of Sustainable Real Estate, and Captain Maktoum Al Hoqani, Chief Corporate Authority Officer, Abu Dhabi Ports, on the sidelines of Abu Dhabi Sustainability Week, taking place this week at the Abu Dhabi National Exhibition Centre (ADNEC).
Masdar and Abu Dhabi Ports, representing its subsidiaries, Khalifa Industrial Zone Abu Dhabi (KIZAD) and Abu Dhabi Free Zone (ADFZ), will collaborate to develop a framework that will allow investors in Abu Dhabi to expand their business operations across the zones under their management, while also reducing costs and increasing the competitive advantage of the Emirate. The companies will also work together in the areas of sustainability, renewable energy and innovation.
“Masdar is committed to achieving the objectives of the Abu Dhabi 2030 economic vision and to supporting the Emirate’s economic growth,” said Mohamed Jameel Al Ramahi, Masdar Chief Executive Officer. “By working closely with Abu Dhabi Ports and its subsidiary free zones, we can help investors in Abu Dhabi to obtain competitive advantage, and give them the flexibility and choice to expand their operations. We also look forward to working more closely with Abu Dhabi Ports on driving innovation in sustainability and renewable energy.”
Captain Mohamed Juma Al Shamisi, Group CEO of Abu Dhabi Ports said: “This MoU between two of Abu Dhabi’s premier organsiations strengthens our collective drive towards making Abu Dhabi a leading trade and logistics facilitator in the region. Abu Dhabi Ports, and its key subsidiary KIZAD will continue to play a vital role in supporting the economic growth of the UAE by enabling trade and investment, as well as innovation and sustainability in the country through such partnerships.”
Masdar City Free Zone has a rapidly growing community of over 700 companies with a diverse range of start-ups, SMEs and multinational companies, and government entities. Companies in the zone benefit from a range of comprehensive business support services, while the City’s innovation ecosystem connects knowledge with research and business with investment opportunities. Corporate tenants include Siemens, the International Renewable Energy Agency (IRENA) and Honeywell.
Abu Dhabi Ports, which operates ports and terminals across the UAE and internationally, as well as KIZAD, is one of the country’s leading facilitators of trade and investment.
KIZAD recently launched KIZAD Logistics City, which offers pre-built warehouses and Light Industrial Units (LIUs). KIZAD’s new free zone warehouses cater to trading and export companies, Third Party Logistics, freight forwarders and distributors while the pre-built and flexible LIUs will serve various light manufacturing businesses and workshops. The industrial, logistics and manufacturing hub is also connected with Khalifa Port, one of the fastest growing ports in the world, close to major UAE airports, and seamlessly interlinked by uncongested highways to Abu Dhabi, Dubai and into Saudi Arabia.