ZonesCorp, the largest operator of purpose-built economic zones in the UAE, has attracted investments worth more than Dh350 million ($95.2 million) this year since the beginning of 2020.
Spread over a 260,000-sq-m area, these new investments serve a variety of sectors including oilfield services, plastic and automotive, said a statement from ZonesCorp.
Since its inception, ZonesCorp has been playing a prominent role in shaping Abu Dhabi’s industrial sector through developing five integrated economic zones covering a total area of 50 sq km in the cities of Abu Dhabi and Al Ain, and building 30 workers’ residential cities with a total capacity of 420,000 workers.
Acting Director General Mohamed Al Khadar Al Ahmed said: "We have had an encouraging start of the year with several promising investments that serve all industrial and commercial sectors."
"We will continue our efforts to create an enabling environment to boost further investments across all targeted sectors, especially oilfield services, automotive, food industries, pharmaceuticals, and building materials, among others," he stated.
Al Ahmed said: "Our economic zones are home to over 880 industrial establishments operating in a variety of sectors. Since the beginning of the year, the value of investments in new projects across our zones has exceeded Dh350 million."
"This reiterates ZonesCorp’s leading role in driving the economic diversification in Abu Dhabi," he stated.
"Since ZonesCorp’s inception, our economic zones have achieved consistent growth in both qualitative and quantitative terms, whether in the invested capital or the expansion of production lines and industrial equipment," added Al Ahmed.
According to ZonesCorp, it pursues a long-term strategy that supports investors in all stages of their operations through ensuring streamlined procedures and relaxed licensing requirements.
In addition to contributing to the development of the industrial sector in the country, such efforts enhance the business environment, improve efficiencies and promote the exchange of ideas and industrial innovations for the benefit of the country’s economy, said the company statement.
In addition to boasting a state-of-the-art infrastructure and easy access to neighboring markets thanks to its strategic locations, ZonesCorp offers a range of integrated facilities and services that allow companies to enhance their production efficiency and expand business base across the region, it added.-TradeArabia News Service