Abu Dhabi Ports Company launched the Khalifa Industrial Zone Abu Dhabi, the industrial zone at the Intercontinental Grand Seoul Parnas in South Korea as part of the Abu Dhabi Investment Forum organized by the Department of Economic Development.
The Forum was held in partnership with the Korean Trade Investment Promotion Agency and discussed various trade and investment opportunities between Korea and Abu Dhabi, whereby Mr Khaled Salmeen executive VP of Industrial Zones at ADPC presented Kizad's unique characteristics to over 200 delegates from Korea's leading companies, on why one of the world's largest industrial zones is an ideal place for doing business.
Mr Salmeen made the lucrative announcement that the Abu Dhabi Government has signed off all necessary paperwork that allows Kizad to offer free zone company registration to any tenants interested.
Kizad's world class transport infrastructure via air, road, sea through the adjacent Khalifa Port and rail networks being developed by Etihad Rail, offers tenants a matchless network of connectivity. The 417square kilometers Industrial Zone, which is two thirds the size of Singapore, is now ready to offer potential tenants outstanding access to markets due to its strategic location which can tap into a market of more than two billion consumers within four time zones. Phase 1 of the mega project was launched at this week's forum, of which 51 square kilometers is set to be completed in Q4 of 2012 and includes an investment of USD 7.2 billion.
Mr Khaled Salmeen executive VP of Industrial Zones at ADPC said that "We are honored to take part in the Abu Dhabi Investment Forum taking place in South Korea. We are certain that Kizad can offer South Korean businesses an efficient environment for doing business at low operating costs that will allow them to thrive and prosper."
The UAE and South Korea have always shared strong trade ties with each other with 2010 seeing the trade volume amounting to around USD 2.7 billion. The UAE has been ranked as the second largest provider of oil to South Korea but is seeking to diversify its economy through foreign direct Investment from one of the strongest Asian Tiger economies.
Mr Salmeen said that "This is the first visit for Kizad to South Korea and we are confident that Kizad through its distinctive business opportunities, will play a strategic role in strengthening and solidifying a mutually beneficial economic partnership between Abu Dhabi and South Korea."
