Masdar and Abu Dhabi Ports sign agreement to support Abu Dhabi Economic Vision 2030
Entities to develop a framework to allow investors to expand their operations across the free zones
Masdar and Abu Dhabi Ports Company signed an agreement which the pair said would support the local economy and help achieve the objectives of Abu Dhabi Economic Vision 2030.
As part of the agreement, Masdar and Abu Dhabi Ports, representing its subsidiaries Khalifa Industrial Zone Abu Dhabi (Kizad) and Abu Dhabi Free Zone, 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 Al Ramahi, chief executive of Masdar in a statement on Thursday.
“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.”
Masdar City Free Zone has over 700 companies with a diverse range of start-ups, SMEs and multinational companies, and government entities. Corporate tenants include Siemens, the International Renewable Energy Agency and Honeywell.
Abu Dhabi Ports operates ports and terminals across the UAE and internationally, as well as Kizad, where it recently started Kizad Logistics City - a development offering pre-built warehouses and light industrial units.
"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,” the company's chief executive Mohamed Al Shamisi said.
Updated: January 16, 2020 08:49 PM