UAE's Kizad waives fees for 75% of services to tap investments
Kizad will also reduce the fees for a majority of the remaining servicesto upgrade to a simpler tariff structure
Khalifa Industrial Zone Abu Dhabi (Kizad), a subsidiary of Abu Dhabi Ports has waived fees for over 75% of its services, in line with the Abu Dhabi government’s directives to attract more investments in the emirate.
As part of the initiative, Kizad will also reduce the fees for a majority of the remaining services in a bid to upgrade to a simpler tariff structure, state-held news agency, Wam reported.
Kizad said that the new fee structure has been put into affect from the beginning of August 2019.
Commenting on the initiative, chief executive officer of Abu Dhabi Ports, Captain Mohamed Juma Al Shamisi, said: "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."
He added: “It is an ideal opportunity for companies of all sizes to benefit from such incentives for either growing their business or entering new markets."
Kizad’s fee exemptions come in line with the three-year 'Ghadan 21' initiative, as part of which nearly $13.6bn (AED50bn) will be invested in a series of development projects and incentive packages.
According to Wam, more than 500 investors have invested over $17.7bn (AED65bn) in Kizad across various sectors including metals, polymers, oil and gas, automotive, food, energy and logistics.