Wednesday 23 September 2020

Image courtesy: WAM

Masdar, Abu Dhabi Ports partner in economy drive

ABU DHABI, January 17, 2020

Masdar and the Abu Dhabi Ports Company have signed an agreement to support the economic growth in Abu Dhabi and achieve the objectives of the Abu Dhabi Economic Vision 2030.

The memorandum of understanding (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 the Abu Dhabi Sustainability Week, taking place this week at the Abu Dhabi National Exhibition Centre, reported state-run news agency Wam.

Masdar and Abu Dhabi Ports, representing its subsidiaries, Khalifa Industrial Zone Abu Dhabi (Kizad) and the Abu Dhabi Free Zone, 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.

Commenting on the signing, Mohamed Jameel Al Ramahi, Masdar chief executive officer, said: "By working closely with Abu Dhabi Ports and its subsidiary free zones, we can help investors in Abu Dhabi obtain a 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 organisations 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, while 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.



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