Khalifa Industrial Zone Abu Dhabi (KIZAD), an Abu Dhabi Ports subsidiary announced that it has waived charges for 75% of services, following Abu Dhabi Government plan to attract further investment into the emirate. The new fee structure will be applicable from this month onwards.
Accordingly, KIZAD offers three quarters of services free of charge, while also it will reduce fees on its remaining services, and proceed to a simpler tariff structure.
Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports reported
We continue to support the government initiatives to build an investor-friendly environment by providing our partners and customers with the incentives they need for their businesses to thrive and grow. We are committed to Abu Dhabi’s drive to become a global gateway for businesses from all parts of the world.
He continued that this initiative will attract various businesses of all sizes that are either boosting their business or enter new markets.
Moreover, the exemptions are aligned with Ghadan 21, the three-year, AED 50 billion Development Accelerator Programme for the emirate, which is anchored around four main pillars: Social, Economic, Liveability and Knowledge.
The waive fees decision is in line with Abu Dhabi Ports’ success, as according to their statement the area has attraxted more than 500 investors and more than AED 65 billion in investment across multiple sectors, including metals, polymers, oil and gas, automotive, food, energy and logistics.
Abu Dhabi ports saw an increase of 14.8% in their value of exports, from AED 24.0 billion in the first quarter of 2018 to AED 27.6 billion in the same period of 2019.