Text size:

  • Small
  • Normal
  • Large

Western Region heads to China to drum up investment interest

A team from Western Region Development Council is in China to showcase Al Gharbia for foreign investment.

Business chiefs from the Western Region are travelling to China to drum up investment.

A delegation from the Western Region Development Council (WRDC) will be in the south-eastern Chinese city of Xiamen this week to showcase the region to investors as part of an investment push from Abu Dhabi.

The WRDC team is participating in the 17th China International Fair for Investment and Trade (Cifit).

The annual event, the only one in the country that facilitates bilateral investment, starts today and runs until Wednesday.

The fair also involves an international investment forum.

Besides hosting international investment promotion agencies, the fair showcases opportunities in provinces, autonomous regions and municipalities in mainland China.

"The participation of the WRDC in the official UAE trade mission falls in line with Al Gharbia's 2030 plan," said Mohamed Hamad bin Azzan, the WRDC director general.

Participation would help promote "collaboration with the People's Republic of China through the exchange of investment and economic plans with the relevant leading authorities", Cifit said.

Al Gharbia Development Forum, which was held in May, showcased the region's potential for private sector investment to diversify its economy.

Abu Dhabi announced a Dh330 billion package of investment over the next five years.

The WRDCis offering the land it owns around the sparsely populated towns of Madinat Zayed, Ruwais, Liwa, Ghayathi, Mirfa, Sila and Delma Island to UAE developers free of charge, it announced during the forum.

The land can be used to build homes, shops and community services to develop the region's infrastructure.

In return, the council will charge a percentage of rental income on all properties acquired under the scheme after the completion of the projects.

The Western Region is home to the Shams1 solar power plant and a nuclear power plant under construction in partnership with a South Korean consortium.

Also under development are power plants in Ruwais and Ghuwaifat, ports and local housing projects.

The Western Region, or Al Gharbia, composes about 60 per cent of Abu Dhabi's land mass but houses just 11 per cent of the emirate's population.



Back to the top

More articles

Editor's Picks

 Would you like it in blue? An Afghan shopkeeper shows a burqa to a customer at a bazaar in Herat. (Aref Karimi / AFP /  April 13, 2014)

In pictures: Best business images for the week to April 24, 2014

Here are some of the best business images for the week to April 24, 2014.

 That's asking a lot: this four-bedroom duplex penthouse apartment  at Marina Residence in Dubai is for sale with an asking price of Dh15.7 million. (Courtesy Better Homes / April 2014)

In pictures: Palm Jumeirah penthouse listed for Dh15.7 million

A four-bedroom duplex penthouse in Marina Residence 3 on Dubai's Palm Jumeirah is on the market for Dh15.7 million.

 Room with a view from one of the 21 duplex penthouses located in the Gate Towers sky-bridge. The sports courts and swimming pools can be seen below. Courtesy Alda

In pictures: Aldar’s Gate Towers Penthouse Collection on Reem Island

Aldar launched its Gate Towers Penthouse Collection at Cityscape Abu Dhabi. The launch features 21 penthouses spanning the skybridge, with each having a private indoor pool and incredible views.

 Marina Square apartments Reem Island: Q1 2% rise. Studio - Dh65-68,000. 1BR - Dh75-95,000. 2BR - Dh110-145,000. 3BR - Dh170-190,000. Q1 2013-Q1 2014 no change. Sammy Dallal / The National

In pictures: Where Abu Dhabi rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Abu Dhabi have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.


To add your event to The National listings, click here

Get the most from The National