ABU DHABI - ZonesCorp, the largest operator of purpose-built economic zones in the UAE, has successfully attracted over AED350 million in investments since the beginning of 2020.
Spreading over an area of more than 260,000 square meters, these investments serve a variety of sectors including oilfield services, plastic and automotive.
Mohamed Al Khadar Al Ahmed, Acting Director General of ZonesCorp, said: "We have had an encouraging start of the year with several promising investments that serve all industrial and commercial sectors. We will continue our efforts to create an enabling environment to boost further investments across all targeted sectors, especially oilfield services, automotive, food industries, pharmaceuticals, and building materials, among others.
He added, "Our economic zones are home to over 880 industrial establishments operating in a variety of sectors. Since the beginning of the year, the value of investments in new projects across our zones has exceeded AED350 million. This reiterates ZonesCorp’s leading role in driving the economic diversification in the Emirate of Abu Dhabi.
"Since ZonesCorp’s inception, our economic zones have achieved consistent growth in both qualitative and quantitative terms, whether in the invested capital or the expansion of production lines and industrial equipment," Al Ahmed added.
ZonesCorp pursues a long-term strategy that supports our investors in all stages of their operations through ensuring streamlined procedures and relaxed licensing requirements. In addition to contributing to the development of the industrial sector in the country, such efforts enhance our business environment, improve efficiencies and promote the exchange of ideas and industrial innovations for the benefit of the country’s economy.
Since its inception, ZonesCorp has been playing a prominent role in shaping Abu Dhabi’s industrial sector through developing five integrated economic zones covering a total area of 50 square kilometers in the cities of Abu Dhabi and Al Ain, and building 30 workers’ residential cities with a total capacity of 420,000 workers.
© Copyright Emirates News Agency (WAM) 2020.