Monday 18 October 2021

Abu Dhabi Ports, Kizad in China to woo investors

ABU DHABI, September 11, 2018

A high-level delegation from Abu Dhabi Ports and Khalifa Industrial Zone Abu Dhabi (KIZAD) recently visited Nanjing, China, to discuss the attractive investment opportunities available within the UAE capital, said a report.

The move comes following Chinese President Xi Jinping’s historic visit to the UAE in July, reported state news agency Wam.

The visiting delegation members took part in the China-UAE Industrial Capacity Cooperation Demonstration Zone Investment Promotion Conference.

Hosted by Jiangsu Provincial State-owned Assets Supervision and Administration Commission and organised by Jiangsu Overseas Cooperation Investment Company (JOCIC), the event was attended by more than 180 delegates from government entities and 90 companies.

Key speakers at the event included: Li Xiubin, deputy director of the Jiangsu Provincial State-owned Assets Supervision and Administration Commission; Wang Bin, chairman of Zhongjiang International Group; Captain Mohamed Juma Al Shamisi, Abu Dhabi Ports CEO; and Hao Sihuan, deputy general manager of Jiangsu Haitou Investment Company.

Bilateral trade between China and the UAE has enjoyed an upward trajectory in recent years, with the two countries signing 13 agreements and memoranda of understanding (MoU) during President Xi Jinping’s visit, said the Wam report.

Abu Dhabi Ports has played an important role in strengthening these ties. JOCIC last year signed agreements with Abu Dhabi Ports to invest over $1 billion in Khalifa Port Free Trade Zone under the China-UAE Industrial Capacity Cooperation Jiangsu Construction Management Company Limited.

It is currently developing the 2.2-sq-km industrial development zone in Khalifa Port Free Trade Zone with 19 Chinese companies already signed up to date, said the report.

In addition, Abu Dhabi Ports & China’s Cosco Shipping Ports has signed an agreement last year to develop one of the most modern container terminals in Khalifa Port.

Addressing the Chinese gathering, Abu Dhabi Ports CEO Captain Mohamed Juma Al Shamisi said: "Our value proposition, connectivity and state-of-the-art infrastructure, as well as our strategic Chinese partnerships, have played a big role in cementing our position in the global market and enhancing our competitive advantage."

"Thanks to the direction and guidance of the UAE leadership, we were able to establish a reputation as an attractive investment and trade hub for companies around the world looking to expand in the region," he added.

Kizad CEO Samir Chaturvedi said: "Through its progressive policies and strategic investments in infrastructure, Abu Dhabi has created an investor-friendly environment, which has found great interest among Chinese business."

"At Kizad, we have already seen major investments in oil and gas, both upstream and downstream, in ports and shipping, in industrial development and various other industry sectors," observed Chuturvedi.

"Khalifa Port and Kizad are among the key integrated infrastructure platforms developed by the Abu Dhabi government to boost investment in the UAE. Kizad is the Middle East’s largest industrial zone spread across 400 sq km and has attracted over $17.5 billion in foreign direct investment to date," he added.

Tags: China | investors | Abu Dhabi Ports | Kizad |

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