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UAE Freezones Biz News Updates
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Masdar Free Zone attracts 300 clean tech companies
Abu Dhabi's Masdar Free Zone has attracted over 300 clean tech businesses,
who are using it as their base to reach out customers within the UAE and in
the region.
 The
zone offers 100% ownership and total tax exemption.
Part of Masdar City, one of the world's most sustainable low-carbon cities,
the zone offers 100 per cent ownership and total exemption from corporate
and personal income tax, duty free import, freedom of repatriation of both
capital and profits. It offers cost-effective licensing and quick, easy
setup, competitive pricing and low running costs due to buildings' energy
efficiency.
Drawing on its strong global logistics and transport network, the Masdar
Free Zone offers businesses a One-Stop shop for setting up locally,
including company registration, office leasing and fast-track visa
processing, in a safe, friendly and aesthetically pleasing working
environment.
The Zone provides small, medium and large enterprises an unparalleled
opportunity to take advantage of Masdar City's state-of-the-art technology
infrastructure, unmatched environment, world-class facilities, and liberal
investment regulations.
Many of the firms, who have setup offices in the zone, provide solutions and
services in key sectors such as renewable energy, clean tech, engineering
and technology.
They include leading global companies such as Siemens, GE, Mitsubishi Heavy
Industries and Lockheed Martin who are taking advantage of its full
ecosystem for innovation integrating knowledge, research and development.
According to Ahmed Baghoum, director of the Masdar Free Zone, the
Zone is moving forwards to achieve its vision for being the regional and
global launch pad for new and innovative ideas and entrepreneurships,
helping push further the boundaries of innovation in various sectors.
One of the refinements at the Masdar Free Zone is the streamlined approach
to registering businesses at its One-Stop shop offering best-in-class
service for companies, allowing them to obtain a license to start operations
and employment visas just in few days.
"We have been very successful in attracting businesses to the Masdar Free
Zone, and expect a further demand as awareness in the region of renewable
technology and sustainable development is rapidly growing," Baghoum added.
UK's Solapak Limited, the specialised leader in engineering and supply of
completely ready to install solar power systems for industrial off-grid
applications, has experienced tremendous growth since opening its office two
year ago.
Haitham Ghawanmeh, marketing manager at Solapak Limited, said that the
company's forecasts and market research show a potential for growth of 70-80
per cent per annum in the coming years.
Handasa, is an Emirati company that has seen a rapidly-growing business in
Madar Free Zone, benefiting from the unrivalled advantages of being located
in one of the world's most advanced and specialised cities. Established by
young Emirati engineers motivated to serve society's needs in the fields of
education and engineering, Handasa introduces smart and innovative learning
tools for the education in the UAE. It also engineers advanced energy
generation systems and water conservation solutions that are specially
customised for the UAE and the region in general.
Starting as a small-desk company in June 2014 to expand into a full-fledged
office employing four people with plans to grow to ten employees over the
next year, according to Ali Altaee, the CEO of Handasa.
With regards to future plans, Altaee said that the company plans to launch
version 2 of its Zayed Project, a smart solution with a new concept of
irrigating the desert forests.
"We are piloting a new innovative irrigation system for farms which is
powered by solar energy instead of diesel. This system, being tested in a
farm in Abu Dhabi's Western Region, is the most environmentally friendly and
cost-effective solution and can be customised to address clients' various
needs. We also plan to unveil a new system for water treatment at Abu Dhabi
Sustainability Week 2016. It can recycle water, adapting it for outdoor
needs such as industrial factories and remote areas such as labour camps."
On the occasion of Gitex Technology Week, the Zone is offering new companies
planning to register in Masdar City an attractive discount of up to 30 per
cent off their first year trade license fees till January 2016.
Oct 23, 15
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Courtesy Khaleej Times
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