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Free Zones Of UAE
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- Ajman Free Zone (AFZ)
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UAE Freezones Biz News Updates
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Abu Dhabi Ports, Russia sign pact to bolster trade, attract investment to
UAE free zones
Abu
Dhabi's Khalifa Port. The MoU seeks to raise awareness about investment
opportunities in Khalifa Industrial Zone Abu Dhabi (Kizad) and Khalifa Port
Free Trade Zone. Courtesy Abu Dhabi Ports
Pact between ports operator, Russia's Trade and Economic
Development Council seeks to attract Russian investment in Kizad and Khalifa
Port Free Trade Zone
Abu Dhabi Ports signed a pact with Russia to strengthen trade ties and
attract Russian companies to invest in the emirate’s free zones.
The memorandum of understanding (MoU) between Abu Dhabi Ports and Russia’s
Trade and Economic Development Council will seek to raise awareness about
investment opportunities in Khalifa Industrial Zone Abu Dhabi (Kizad) and
Khalifa Port Free Trade Zone, according to an emailed statement from the
ports operator.
“With trade still around $2 billion, we see potential for Russian investors
to build industrial facilities and innovation centers in the UAE,” Igor
Egorov, honorary chairman of the Russian Business Council and regional
representative of the Russian Trade and Economic Development Council, said.
The UAE is seeking to drive economic diversification and foreign investment
through its free zones by developing infrastructure to create a logistics
hub. Last year, Abu Dhabi Ports got a $300 million investment from China. In
2016, it signed a $738 million deal with China’s Cosco Shipping to build and
operate a second terminal at the Khalifa port.
The deal with the unit of China’s biggest shipping group will start with
initial capacity of 2.5 million 20-foot containers in 2019, and has an
option to increase that to 3.5 million.
March 21, 2018 |
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Courtesy The National
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