Abu Dhabi, United Arab Emirates – Masdar, Abu Dhabi Future Energy Company, and Abu Dhabi Ports Company have signed a Memorandum of Understanding (MoU) to support the economic growth of the emirate of Abu Dhabi and achieve the objectives of the Abu Dhabi Economic Vision 2030.

The MoU was signed by Yousef Ahmed Baselaib, Masdar Executive Director of Sustainable Real Estate, and Captain Maktoum Al Hoqani, Chief Corporate Authority Officer, Abu Dhabi Ports, on the sidelines of Abu Dhabi Sustainability Week, taking place this week at the Abu Dhabi National Exhibition Centre (ADNEC).

Masdar and Abu Dhabi Ports, representing its subsidiaries, Khalifa Industrial Zone Abu Dhabi (KIZAD) and Abu Dhabi Free Zone (ADFZ), will collaborate to develop a framework that will allow investors in Abu Dhabi to expand their business operations across the zones under their management, while also reducing costs and increasing the competitive advantage of the Emirate.  The companies will also work together in the areas of sustainability, renewable energy and innovation.

“Masdar is committed to achieving the objectives of the Abu Dhabi 2030 economic vision and to supporting the Emirate’s economic growth,” said Mohamed Jameel Al Ramahi, Masdar Chief Executive Officer. “By working closely with Abu Dhabi Ports and its subsidiary free zones, we can help investors in Abu Dhabi to obtain competitive advantage, and give them the flexibility and choice to expand their operations. We also look forward to working more closely with Abu Dhabi Ports on driving innovation in sustainability and renewable energy.”

Captain Mohamed Juma Al Shamisi, Group CEO of Abu Dhabi Ports said: “This MoU between two of Abu Dhabi’s premier organsiations strengthens our collective drive towards making Abu Dhabi a leading trade and logistics facilitator in the region. Abu Dhabi Ports, and its key subsidiary KIZAD will continue to play a vital role in supporting the economic growth of the UAE by enabling trade and investment, as well as innovation and sustainability in the country through such partnerships.”

Masdar City Free Zone has a rapidly growing community of over 700 companies with a diverse range of start-ups, SMEs and multinational companies, and government entities. Companies in the zone benefit from a range of comprehensive business support services, while the City’s innovation ecosystem connects knowledge with research and business with investment opportunities. Corporate tenants include Siemens, the International Renewable Energy Agency (IRENA) and Honeywell.

Abu Dhabi Ports, which operates ports and terminals across the UAE and internationally, as well as KIZAD, is one of the country’s leading facilitators of trade and investment.

KIZAD recently launched KIZAD Logistics City, which offers pre-built warehouses and Light Industrial Units (LIUs). KIZAD’s new free zone warehouses cater to trading and export companies, Third Party Logistics, freight forwarders and distributors while the pre-built and flexible LIUs will serve various light manufacturing businesses and workshops. The industrial, logistics and manufacturing hub is also connected with Khalifa Port, one of the fastest growing ports in the world, close to major UAE airports, and seamlessly interlinked by uncongested highways to Abu Dhabi, Dubai and into Saudi Arabia.

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.