ZonesCorp Seeks to Woo Chinese Investors to Abu Dhabi
The Higher Corporation for Specialized Economic Zones (ZonesCorp) will be participating as a lead sponsor in the upcoming Abu Dhabi and China Economic Forum due to be held at Sheraton Shanghai Hotel & Residences, in Pudong, China, on May 31, 2010. Along with other key economic drivers of Abu Dhabi, ZonesCorp aims to invite Chinese investments to Abu Dhabi through demonstrating its services, highlight its infrastructure and the prosperous business climate it avails for investors in its industrial cities.
Building on the increasing mutual interest between the UAE and China to develop their relations on the political, economic and cultural fronts, the Abu Dhabi and China Economic Forum comes as a further solid step in the bilateral pace of work and cooperation between the two countries. The forum, scheduled to be organized subsequent to the successful participation of the UAE in Shanghai Expo 2010, will be a prominent event that discusses the best business and investment opportunities available in the UAE and China.
The UAE, Abu Dhabi in particular, aims to establish long term partnerships with key Chinese companies and increase their investments in Abu Dhabi. This business interest was boomed through the UAE’s participation in major exhibitions and forums which were held recently in China. The recent visits of UAE high-ranking official dignitaries to China reflect the government’s strong desire to activate partnerships with the Chinese who also showed an increasing interest to explore the investments opportunities available in Abu Dhabi.
“We are pleased to be a lead sponsor of the significant Abu Dhabi and China Economic Forum which would help the Emirate enhance ties with a giant player of international industry like China,” said HE Mohamed Hasan Al Qemzi, CEO, ZonesCorp. “Our participation comes in response to the directives of HH Sheikh Hamed bin Zayed Al Nahyan, Chairman of ZonesCorp, who is very keen to enhance the role played by ZonesCorop in attracting world’s leading exporters and investors to Abu Dhabi and strengthen the Emirate’s position as an ideal destination for industrial investments that enjoys a sustainable economic growth.”
Organized by Abu Dhabi Department of Economic Development (DED) and Institutional Investor, and supported by the Industrial & Commercial Bank of China (ICBC), ZonesCorp will take part in the forum’s discussions aiming to introduce Abu Dhabi as a promising business hub that enjoys a political, economic and financial stability.
Along with ZonesCorp, the forum will be also sponsored by the General Holding Corporation (GHC), HSBC, Abu Dhabi Investment Company (Invest AD), National Bank of Abu Dhabi, Standard Chartered, and ZonesCorp.
The forum will bring together more than 200 Chinese and Emirati delegates including investors, business leaders, financiers, investment banks and top-level policy makers.
Al Qemzi will deliver a presentation on the Opportunities for Industry in Abu Dhabi, where he will illustrate ZonesCorp’s role in discovering new business opportunities and investments in Abu Dhabi and how the corporation is operating to attract more foreign investments.
“The forum will be a perfect platform for ZonesCorp and the participating economic entities from Abu Dhabi to highlight the investment opportunities available in the major sectors that drive the economic diversification process in the Emirate. The event will also help create networking opportunities for Chinese investors with Abu Dhabi’s key leaders of industry, financial services experts and top leading decision makers,” said Al Qemzi.
He pointed out that China is a major trading partner of the UAE as the bilateral trade volume between the two countries soared to $ 25 billion (AED 92 billion) in 2009. In line with its strategy, ZonesCorp will take the best advantage of this event to attract Chinese companies to set up business at the corporation’s industrial cities (ICADs). He added that the workers residential cities, whose unique concept was developed by ZonesCorp, will be another interesting incentive for Chinese companies where they could accommodate their working force in very convenient living complexes.
A total of 346 industrial enterprises have established operations in ZonesCorp by 2009. In the first quarter of 2010, ZonesCorp has recorded 574 permanent licenses across several industries with a total invested capital that stood at AED 27.2 billion.
ZonesCorp is already involved in 5 out of 10 strategic manufacturing sectors identified in Abu Dhabi Economic Vision 2030. The enabling sectors include construction materials, machinery, electrical equipment, food and beverage. The other sectors which ZonesCorp is focusing on include energy, oil and gas services, metals, aerospace and defense, healthcare equipment and services, transportation, trade and logistics.