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Falah Al Ahbabi:<\/strong><\/p>\n<ul>\n<li><strong>Ease of doing business in the Emirate for our current and future customers is a top priority<\/strong><\/li>\n<li><strong>Agreement with JOCIC and ICBC to streamline setup process for Chinese firms in the UAE<\/strong><\/li>\n<\/ul>\n<p><strong>Abu Dhabi\u2013UAE, 03 August 2019:\u00a0<\/strong>Abu Dhabi Ports and Jiangsu Overseas Cooperation Investment Co. Ltd. (JOCIC) have signed a five-year agreement with Industrial and Commercial Bank of China (ICBC) to make it easier and quicker for Chinese companies to do business at Khalifa Industrial Zone (KIZAD), Abu Dhabi\u2019s integrated trade, logistics, industrial and free zone.<\/p>\n<p>Abu Dhabi Ports, the operator and manager of the Emirate\u2019s commercial and community ports,\u00a0\u00a0 and its subsidiary KIZAD have already established with JOCIC a 2.2 square kilometre China-UAE Industrial Capacity Cooperation Demonstration Zone at KIZAD under a 50-year agreement. The Demonstration Zone forms part of the UAE\u2019s support for China\u2019s Belt and Road Initiative (BRI) and aims to attract more trade and investment to Abu Dhabi. The agreement also reiterates the strategic position played by the Emirate to the major trade hubs along the BRI.<\/p>\n<p>During the recent state visit of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to China, a MoU was signed by H.E. Falah Mohammad Al Ahbabi, Chairman of Abu Dhabi Ports, Wang Bin, Chairman of JOCIC, and Chen Siqing, Chairman of ICBC, KIZAD providing even more attractive for foreign investors.<\/p>\n<p>Through its branches in Abu Dhabi and Jiangsu, ICBC \u2013 the world\u2019s largest bank by assets \u2013 will provide services for firms being incorporated at KIZAD by becoming a preferred banking partner of Abu Dhabi Ports and JOCIC. The three organisations will facilitate meetings between companies and the bank to help it tailor its portfolio of products and services to individual needs, making it quicker and easier for companies to start up in KIZAD. In addition, ICBC will raise awareness of KIZAD with clients in China and across other markets.<\/p>\n<p>\u201cI am delighted that our latest partnership is with a global leader such as Industrial and Commercial Bank of China. Improving the ease of doing business in the Emirate for both our current and future clients is a top priority for Abu Dhabi Ports. Our agreement with ICBC is another successful achievement of these efforts, since navigating finance and banking can be a major obstacle for firms looking to enter into a new market.\u201d<\/p>\n<p>JOCIC, which is engaged in investing, constructing, operating and managing industrial zones abroad, as well as investing in real estate development and other projects, has already attracted the interest of 20 Chinese firms in the Demonstration Zone since it was set up last year.<\/p>\n<p><strong>Wang Bin, Chairman of JOCIC<\/strong>, said: \u201cThe UAE is attracting Chinese investment through our industrial cooperation zone at KIZAD thanks to strong confidence and sound industrialization policies, as well as its commitment to economic diversification. The country, located at the meeting point of Europe, Asia and Africa, also has a welcoming business environment and is a hub for numerous industries, such as shipping logistics, finance and technology.<\/p>\n<p>\u201cThis makes the UAE both an important platform for Chinese enterprises looking to enter Europe and Africa, and a critical gateway through which European and African enterprises can explore the Chinese market.<\/p>\n<p>\u201cWe are proud to be helping Chinese enterprises grow their businesses overseas efficiently and effectively through the demonstration zone at KIZAD.\u201d<\/p>\n<p>From the financing perspective, this significant agreement will provide ICBC with a unique opportunity to help Chinese enterprises better understand the opportunities presented by KIZAD and support their investments in industry, trade and logistics.<\/p>\n<p>Under the agreement, the bank will also help potential investors understand the banking sector in the UAE and will have a dedicated liaison team for clients of Abu Dhabi Ports, who will receive priority treatment from ICBC. The bank, Abu Dhabi Ports and JOCIC will also work together to simplify application processes for services ranging from foreign exchange to financial consultancy and project finance, including speeding up the sourcing and processing of documents, such as those used to grant land rights within KIZAD.<\/p>\n<p>The bank will also support Abu Dhabi Ports\u2019 clients looking to set up in China.<\/p>\n<p>The agreement is the latest agreement between Abu Dhabi Ports and a major Chinese company. Earlier in the year, Roadbot broke ground on a new tyre manufacturing plant at the China-UAE Industrial Capacity Cooperation Demonstration Zone.<\/p>\n<p>The longstanding economic relationship between China and the UAE was further strengthened last year with the official inauguration of the COSCO Shipping and Ports\u2019 Abu Dhabi Terminal at Khalifa Port, positioning Abu Dhabi as the regional hub for COSCO\u2019s global network of 285 berths at 37 ports.<\/p>\n","show_read_more":"0","content_for_read_more":""},"_links":{"self":[{"href":"https:\/\/wpvip.adportsgroup.com\/adportsgroup\/wp-json\/wp\/v2\/posts\/2427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wpvip.adportsgroup.com\/adportsgroup\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wpvip.adportsgroup.com\/adportsgroup\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wpvip.adportsgroup.com\/adportsgroup\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/wpvip.adportsgroup.com\/adportsgroup\/wp-json\/wp\/v2\/comments?post=2427"}],"version-history":[{"count":1,"href":"https:\/\/wpvip.adportsgroup.com\/adportsgroup\/wp-json\/wp\/v2\/posts\/2427\/revisions"}],"predecessor-version":[{"id":2431,"href":"https:\/\/wpvip.adportsgroup.com\/adportsgroup\/wp-json\/wp\/v2\/posts\/2427\/revisions\/2431"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wpvip.adportsgroup.com\/adportsgroup\/wp-json\/wp\/v2\/media\/2429"}],"wp:attachment":[{"href":"https:\/\/wpvip.adportsgroup.com\/adportsgroup\/wp-json\/wp\/v2\/media?parent=2427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wpvip.adportsgroup.com\/adportsgroup\/wp-json\/wp\/v2\/categories?post=2427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wpvip.adportsgroup.com\/adportsgroup\/wp-json\/wp\/v2\/tags?post=2427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}