Foreign investments in UAE’s 36 free zones reach AED 268bn The total value of foreign direct investment through UAE free zones has touched Dh268 billion ($73 billion). Free zones or export processing zones and specialised economic zones have gained prominence in trade and investment over the last 30 years that help investors bypass a lot
[continue reading...]
Abu Dhabi’s new Industrial Free Zone The Khalifa Industrial Zone Abu Dhabi (Kizad) will help attract foreign direct investment to Abu Dhabi and facilitate the building of new industries that will help diversify the economy of the emirate and the UAE as a whole.The industrial zone, located between Abu Dhabi and Dubai, will have an
[continue reading...]
Abu Dhabi plans trading house for food security Abu Dhabi plans to set up a trading house with a capital base of several hundred million dollars in a bid to secure food supplies for the import-dependent nation, (Source: Financial Times).Citing people familiar with the plans, the newspaper said the government-owned Abu Dhabi Sources also aims
[continue reading...]
Abu Dhabi stands for sustained Growth and Investment Abu Dhabi is becoming the breakout emirate for investment and growth as Dubai’s image still reels from its financial woes during the global credit crisis, said speakers at the Reuters Middle East Investment Summit.Abu Dhabi came into the spotlight after its high profile bailout of state owned
[continue reading...]
UAE’s Ras Al Khaimah eyes further expansion The UAE emirate of Ras Al Khaimah with no oil and gas like its neighbouring emirates is planning projects worth $5 billion to 2020 with the help of foreign investors. RAK Free Trade Zone (RAK FTZ) is currently home to around 4,000 companies aims to turn itself into
[continue reading...]
Abu Dhabi Ports awards AED1b contract for Khalifa Port Abu Dhabi: The Abu Dhabi Ports Company (ADPC) has announced the award of a Dh1.028 billion contract to a joint venture between ED Zublin and Al Jaber Transport and General Contracting for its flagship Khalifa Port and Industrial Zone (KPIZ) project. The agreement is for the
[continue reading...]
Dubai Airports has reported a 16.3 percent increase in passenger traffic for H1 2010 compared to the year earlier period. The six months to end-June saw 22,554,445 passengers use Dubai International airport, compared to 19,397,089 in the corresponding period in 2009. According to an emailed statement released Monday by Dubai Airports, Dubai International processed 3,684,192
[continue reading...]
Abu Dhabi is set to launch an automotive industry zone to include everything from building vehicles to services and sales. The new zone is planned across an 11 sq km area of industrial land in Musaffah, officials said in comments published by UAE daily The National. “The automobile business is a huge one,” Mohammed al
[continue reading...]
The UAE is planning to export camel milk to Europe after the European Commission (EU) gave the green light, it was reported on 4th July 2010. “The UAE is intending to export camel milk to European markets next year, to be among the first suppliers of this product to the EU,” Abdullah Al Janan, executive
[continue reading...]
The UAE will maintain the dirham’s peg to the dollar and has no plans to rejoin the planned Gulf monetary union “for the time being,” Sheikh Mohammed Bin Rashid Al Maktoum told Cable News Network June 25, 2010. The emirates “still believe” in the peg, Sheikh Mohammed said in an e-mailed transcript of the CNN
[continue reading...]
