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15 April 2024

Abu Dhabi's industrial zone cuts fees for over 75% of its services

By Wam

Khalifa Industrial Zone Abu Dhabi, KIZAD, an Abu Dhabi Ports subsidiary, 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.

In an ongoing commitment to the growth and success of operations at KIZAD, 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 allows investors to save a lot of costs and contributes, furthering the competitive business advantage at KIZAD for its current and future clients.

Commenting on the move, Captain 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 the three-year 'Ghadan 21' initiative, which invests around AED50 billion in a series of development initiatives and incentive packages, focusing on four main pillars: Social, Economic, Liveability, and Knowledge.

The decision to waive fees also builds on the incredible success that Abu Dhabi Ports has had in attracting investors to KIZAD since it was launched in 2010. To date, the zone has attracted more than 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.