Abu Dhabi Ports to expand free trade zone

Mar 29, 2017: In order to accommodate more industries, Abu Dhabi Ports has announced the expansion of free trade zone. Khalifa Port Free Trade Zone (KPFTZ) is a 100 square kilometre free zone area located adjacent to Khalifa Port.

"KPFTZ provides numerous advantages to investors including competitive lease prices and some of the lowest utility costs in the world, all under tax free umbrella," said Captain Mohammad Juma Al Shamisi, CEO, Abu Dhabi Ports while addressing media at Global Manufacturing and Industrialisation Summit.

"Investors can have 100 per cent foreign ownership, full repatriation of capital and profits, competitive prices for shipments and centralised government portal for efficient procedures."

He said many Chinese investors are showing interest to set up their companies in the new zone. "We received one or two delegations from China to look for investment opportunities."

Around 40 companies currently operate in the free trade zone in a wide range of sectors including industrial, trading and services.

The new free trade zone is planned to be connected to the future rail network for the transport of goods.

Photo credit: PTV Group