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Tue 6 Aug 2019 02:14 PM

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Abu Dhabi industrial zone says to waive 75% of charges

Khalifa Industrial Zone Abu Dhabi removes charges on three quarters of services to encourage further investment

Abu Dhabi industrial zone says to waive 75% of charges

Khalifa Industrial Zone Abu Dhabi (Kizad) has waived the charges for over 75 percent of its services, in line with the Abu Dhabi Government directive to encourage further investment into the emirate.

The Abu Dhabi Ports subsidiary said three quarters of services will be offered free of charge, while fees for a significant number of the remaining services will also be reduced and streamlined to a simpler tariff structure.

The initiative is expected to contribute to savings for investors while furthering the competitive business advantage at Kizad for its current and future clients, a statement said.

Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, said: “We continue to support the government initiatives to build an investor-friendly environment by providing our partners and customers with the incentives they need for their businesses to thrive and grow. We are committed to Abu Dhabi’s drive to become a global gateway for businesses from all parts of the world.

“The cost of setting up and maintaining a successful business at Kizad is more achievable now than ever before. It is an ideal opportunity for companies of all sizes to benefit from such incentives for either growing their business or entering new markets.”

The exemptions are aligned with Ghadan 21, the three-year, AED50 billion development accelerator programme for the emirate, he added.

To date, Kizad has attracted over 500 investors and more than AED65 billion in investment across multiple sectors, including metals, polymers, oil and gas, automotive, food, energy and logistics.

The new fee structure will be applicable from this month onwards.