Higher Corporation for Specialized Economic Zones showcases economic zones to Japanese Business Delegation

Monday 23 May 2016

Abu Dhabi - MENA Herald: Zonescorp officials welcomed a group of high-level investment professionals from Japan on a visit to the ZonesCorp managed ICAD 1 (Industrial City Abu Dhabi 1). During the visit ZonesCorp gave a presentation to the group showcasing its model for developing industrial infrastructure in Abu Dhabi and creating an effective commercial environment to support growth and economic diversification with specialized economic zones. The visit was headed by the Director General of the JCCME UAE-Japan desk who was accompanied by a senior consultant from Nomura Research Institute in Japan to study the investment opportunities in Abu Dhabi and look at best practices for managing economic zones.

ZonesCorp is rapidly becoming one of the leading destinations for industrial investment in the region attracting over US$1bn worth of foreign direct investment in the last two years from companies all over the globe. This includes investment by some of Japan’s biggest industrial and manufacturing names including Mitsubishi Hitachi Power Systems ltd, Adeka Corporation, Nippon Steel and the Sumitomo Metal Corporation.

During the visit the group also toured a number of the top facilities operating in the economic zones and the Worker Residential Cities showcasing the extensive infrastructure available to investors and the broad mix of companies that have set up successful facilities. The tour included a visit to Neopharma, which is one of the world’s leading pharmaceutical manufacturers with a facility in ICAD 1.

The visit took place as part of a wider delegation of Japanese statesmen and business leaders visiting Abu Dhabi to attend the 4th Abu Dhabi-Japan Economic Council hosted by the Abu Dhabi Department of Economic Development. The aim of the Council is to strengthen economic ties between the two countries, promote trade and investment, build long lasting trading relationships and encourage advanced knowledge and technology transfer.

HE Saeed Issa Al Khaili, Acting Chief Executive Officer at ZonesCorp commented:
We were delighted to welcome the delegation from Japan to the economic zones managed by ZonesCorp. The ICADs are a natural fit for Japanese investors looking to access the emerging markets of the Middle East and the more mature markets of the west thanks our world class infrastructure, tax free environment and the low operating costs.

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