التكنولوجيا وأخبارها بوابة الإمارات لتكنولوجيا المعلومات والإتصالات
Middle East’s Largest Industrial ZoneImplements Abu Dhabi Executive Council Resolution to support new companies
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Khalifa Industrial Zone Abu Dhabi (KIZAD), a subsidiary of Abu Dhabi Ports, today announced that it has implementedthe 25 percent reduction in land lease tarifffor new
contracts as announced by Abu Dhabi Executive Council on March 16.
The tariff reduction will help companies setting up in KIZAD a competitive advantage by
lowering initial investment, and subsequently spur economic activity in the emirate of Abu
Dhabi. The Executive Council initiative, which expands on the incentives offered under the
Ghadan 21 programme, is aimed at providing relief and stimulus under the challenging
global economic conditions.
Captain Mohamed Juma Al Shamisi, Group CEO of Abu Dhabi Ports, said:“The 25 percent
reduction in the land lease tariffsupplements the competitive advantage KIZAD already has
to offer businesses looking to establish their base of operations here. We value long-term
partnerships with our customers, and we will continue to bring real, measurable benefits to
the industry through the implementation of initiatives as well as the incentives extended by
the Government of Abu Dhabi to help boost the economy of the emirate and the UAE.”
Land lease tariff reduction is one of the many incentives announced by the government to
stimulate the economy. Other benefits include exemptions till the end of the year on
commercial real estate registration, subsidized water and electricity for commercial and
industrial activities, an AED 3billion allocation for SME credit guarantee programme, waiver
of performance guarantees of up to AED 50 million for startups, a new committee to review
lending options for local companies, and waiver of industrial and commercial penalties.
This is not the first time KIZAD has implemented sweeping, business-friendly measures
designed to stimulate investmentand enhance the competitive advantage for its customers.
Lastyear, KIZAD made 75 of its services available to customers free of charge, and cut
administrative registration fees in line with an Abu Dhabi Executive Council resolution.
In early 2019, KIZAD implemented an electricity tariff incentive programme (ETIP)
introduced by the Industrial Development Board of the Abu Dhabi Department of Economic
Development. This programmesaw a marked reduction in energy prices for the most
productive companies operating in the zone. Under the terms of the ETIPprogramme,
eligible industrial companies cansignificantly reduce their expenditure on energy in
exchange for their contribution to the economy.
