(MENAFNEditorial)
Abu Dhabi, UAE, 28 March, 2017: Responding to the rising demand from both foreign direct and existing investors wanting to establish and grow their manufacturing and industrial business in UAE free zones, Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports in the UAE as well as Khalifa Industrial Zone Abu Dhabi, revealed their expansion plans for the largest Free Trade Zone in the region at the Global Manufacturing and Industrialisation Summit 2017 (GMIS). Taking part as Industry Partner, the announcement was made by senior AD Ports and KIZAD officials at a press conference at GMIS.
Khalifa Port Free Trade Zone (KPFTZ), a 100 sq km free zone area (across Areas A and B of KIZAD), is fully integrated with the region's first semi-automated port, which has already attracted wide portfolio of investment sectors to KIZAD including aluminium, automotive, engineered metals, port logistics, food processing, pharmaceuticals, packaging, polymer converting and other industries, that rely on their proximity to Khalifa Port. The new Free Trade Zone offers a flexible master plan that is capable of accommodating more industries in the future from a land use perspective. Within the additional free zone territory allocated in the 16 sq km Area ‘A' of KIZAD will be a new Business Park.
The Khalifa Port Free Trade Zone, located adjacent to Khalifa Port, the second fastest growing port in the world, is poised to become the future of trade in the emirate of Abu Dhabi, adding significant value to investors, while strengthening Abu Dhabi's position as a thriving maritime hub in the Middle East, Africa, and South Asia (MEASA) region.
Addressing the announcement at the press conference held at GMIS, Captain Mohamed Juma Al Shamisi, said, 'The decision to expand the free zone is underpinned by the wise leadership of the to achieve KIZAD's strategy to provide an attractive environment and destination for foreign investments in various sectors. We decided to make the announcement of the Khalifa Port FTZ at GMIS because its vision of uniting key industry experts and stakeholders and providing transformational ideas and solutions, along with a vision for the future that supports and benefits the private and public sectors, and civil society, is well in-line with our business objectives, mission and vision.
Approximately 40 companies currently operate in the Khalifa Port Free Trade Zone with a mixture of activities including industrial, trading and service orientations. The primary focus of business activities is on trading, Logistics, Packaging, Food & Beverage, Aluminum, light, medium and heavy industries.
Khalifa Port FTZ provides numerous advantages to investors, including competitive lease prices, and some of the lowest utility costs in the world, all under a tax-free umbrella. Investors in the free zone can enjoy 100% foreign ownership, 100% repatriation of capital and profits, full control of intellectual property, competitively priced shipments and centralized government portals, including Customs, for completion of efficient procedures, among other value-added benefits.
Mana Mohamed Saeed Al Mulla, KIZAD CEO, described KIZAD's announcement to expand current free zone area to a total of 100 square kilometers as 'a new and attractive addition to the industrial investment landscape of Abu Dhabi adding that 'KIZAD is committed to adopting the latest innovations in all aspects of its industrial clusters that will support its main objective to build a sustainable economy and put the UAE at the forefront of many specialized industries in the region. With this new addition of Free Zone land, we intend to attract global interest from manufacturing investors that will bring new technology, product diversification and increased trade through our ports.
Spanning a total area of 84 square meters, Area B will feature heavy, light and logistics industries, commercial complexes, big-box retail stores, a town centre and mixed-use developments, as well as residential developments.
Khalifa Port FTZ offers importers and exporters convenient reach to more than 4.5 billion consumers within four of the world's time zones. In addition, the free trade zone's multimodal connectivity to roads, ports, air and future rail networks ensures easy accessibility to all of the region's key logistics and trading destinations.
The event is taking place for the very first time globally and hosted in Abu Dhabi by UAE Ministry of Economy and the United Nations in Industrial Development Organization (UNIDO) from 27-30 March, 2017 at Paris Sorbonne University, Abu Dhabi.
The Summit hosted a hand-selected audience of over 1,200 delegates, including Heads of State, Government Leaders, Ministers, Policy Makers and C-Suite Executives from Global 2000 Companies.
GMIS aims to create a unique networking forum for international cooperation that will result in pivotal cross-border investment growth, lucrative partnership opportunities and the sharing of relevant technological advancements while uniting key industry experts and stakeholders to identify fundamental challenges in the manufacturing sector and provide transformational ideas and solutions, encourage the development of manufacturing capabilities, and promote global value chains across key manufacturing industries.
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