(MENAFN - Kuwait News Agency (KUNA)) Volume of foreign investments in industrial zones of Abu Dhabi grew to 5.3 billion dirham in 2012.
Mohammed Al-Qamzi, the Chief Executive Officer (CEO) of the Higher Corporation for Specialized Economic Zones (or ZonesCorp), said in a statement on Sunday the corporation succeeded, in 2012, through its effective participation in local and international conventions and business events, in luring foreign investments to the industrial zones, run by the corporation. These businesses have grown to 5.3 billion dirham, he added.
Such international businesses in the UAE boost openness, cooperation and commercial ties with European, American and Asian economies, said Al-
The Abu Dhabi emirate secures a lucrative environment for foreign businessmen, he said, indicating at planned mega ventures, such as two new industrial towns in the western region -- one to be specialized in petrochemicals and construction materials and the other in oil, gas and logistics.
The corporation had been established, with support from the Abu government, according to a law, enacted in 2004. It was founded for boosting the industrial sector in the emirate, part of the higher strategy of transform it into an attractive center for investments, industries, logistical services.
The corporation plans to build up to five industrial towns in Abu Dhabi and Al-Ain, in addition to a town for production of construction materials and labor towns.
One US dollar equals approximately 3.6 UAE dirham.