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Free Zones Of UAE- Abu Dhabi Airport Free Zone (ADAFZ)
- Abu Dhabi Ports Company (ADPC)
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- Masdar City
- twofour54
- ZonesCorp
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- Dubai Internet City (DIC)
- Dubai Knowledge Village (DKV)
- Dubai Logistics City (DLC)
- Dubai Maritime City (DMC)
- Dubai Media City (DMC)
- Dubai Multi Commodity Centre (DMCC)
- Dubai Outsource Zone (DOZ)
- Dubai Silicon Oasis (DSO)
- Dubai Studio City (DSC)
- ENPARK
- International Media Production Zone (IMPZ)
- Intl. Humanitarian City (IHC)
- Jebel Ali Free Zone (JAFZA)
- TechnoPark (TP)
- Hamriyah Free Zone (HFZ)
- Sharjah Airport International Free Zone (SAIF-Zone)
- RAK Free Trade Zone Authority (RAKFTZ)
- RAK Investment Authority (RAKIA)
- RAK Maritime City (RAKMC)
- Fujairah Free Zone (FFZ)
- Ahmed Bin Rashid FZ (ABRFZ)
- Ajman Free Zone (AFZ)
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UAE Freezones Biz News Updates
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Bank of China in financing agreement with UAE industrial zone
Bank of China, China’s fourth largest bank by assets, has signed an
agreement to provide financing to companies setting up in a major Abu Dhabi
industrial zone as it looks to capitalise on China’s Belt and Road
initiative.
The United Arab Emirates sits between the two strands of the initiative, an
overland route connecting Europe and the Middle East to China and a maritime
route connecting China, South East Asia, India and Africa.
Under the memorandum of understanding signed with Khalifa Industrial Zone
Abu Dhabi (KIZAD), Bank of China’s Abu Dhabi branch will provide services
such as loan, trade financing, trade settlement and dirham clearing to
Chinese, international and local companies investing in KIZAD.
“The UAE is one of the most important countries in building the One Belt One
Road initiative,” said Gao Xiaoming, general manager of Bank of China’s Abu
Dhabi branch. “Both the UAE and China are working together to coordinate
their strategies.”
China is the UAE’s second largest trading partner and the biggest exporter
to the Gulf country, while it is also a gateway to about 60 percent of
China’s exports to regional markets.
Ties between the UAE and China have strengthened over the past year. Abu
Dhabi Ports, which operates KIZAD, has signed several agreements with
leading Chinese companies such as COSCO Shipping and the China-UAE
Industrial Capacity Cooperation Construction Management Co., a firm recently
established by the Jiangsu Provincial Overseas Cooperation and Investment
Co. (JOCIC) to occupy and develop around 2.2 square kilometres of the
available free zone space in KIZAD’s newly allotted Khalifa Port.
In a move designed to further strengthen economic ties between the two
countries, Agricultural Bank of China earlier this year opened a yuan
clearing branch in Dubai, the first such centre in the UAE.
Dec 13, 2017 |
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Courtesy Reuters
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