There has been signing of a 5-year agreement between Jiangsu Overseas Cooperation Investment Co. Ltd and Abu Dhabi Ports with Industrial and Commercial Bank of China for making it convenient for Chinese firms to do their business at Khalifa Industrial Zone which is the integrated logistics, trade, and industrial, free zone of Abu Dhabi.
A 2.2 Sq.km China-United Arab Emirates Industrial Capacity Cooperation Demonstration Zone has already been established by the Operator and manager of the Emirate’s commercial and community ports with JOCIC at KIZAD under a fifty-year agreement. This Zone forms part of the United Arab Emirates’ support for Belt and Road Initiative of China and targets to appeal more and more investment and trade to Abu Dhabi. The strategic role played by the Emirates to become the major trade hubs along with the BRI is also reiterated by the agreement.
A MOU was signed by of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, who is the Crown Prince of Abu Dhabi, as well as, the Deputy Supreme Commander of the United Arab Emirates’ Armed Forces, to China, during his most recent visit between H.E. Falah Mohammad Al Ahbabi, Chairman of Abu Dhabi Ports, Chairman of JOCIC, Wang Bin, and Chairman of ICBC, Chen Siqing, , KIZAD offering even more striking for foreign investors.
The largest bank of the world by assets, ICBC, via its branches in Abu Dhabi, will be providing services for companies being incorporated at KIZAD by becoming a top priority banking partner of JOCIC and Abu Dhabi Ports. The 3 organizations will be facilitating meetings between the bank and firms to assist it to modify its portfolio of services and products to individual needs, making it more convenient for firms to start up in KIZAD.