KIZAD offers tailor-made plans for Brazilians

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KIZAD offers tailor-made plans for Brazilians

28 Aug 2020

In addition to offering joint venture opportunities with Arab companies, the Khalifa Industrial Zone Abu Dhabi offers tailor-made investment plans to attract Brazilian companies to the UAE.
 

São Paulo The Khalifa Industrial Zone Abu Dhabi (KIZAD) has laid out plans for Brazilian companies. According to commercial director Khalid Al Marzooqi (pictured above), KIZAD has worked closely with Brazilian investors to better understand their business requirements and challenges. “To help facilitate their market entry, we are offering tailor-made investment plans and incentive packages, as well as collaborating with various governmental departments to help Brazilian companies speed up and streamline their set-up process,” he told ANBA.

KIZAD is an industrial zone subsidiary of Abu Dhabi Ports, the emirate’s state-run port operator. The company offers all tenants tax benefits and low energy and utility rates. Additionally, the commercial director mentioned new regulations approved by the emirate’s government to attract new business to Abu Dhabi. These measures include allowing 100% foreign investment ownership, as well as offering joint venture and partnership opportunities (with ownership of 49%) with local companies.

The industrial zone already has important Brazilian companies established there, including food industry giant Brasil Foods (BRF). Al Marzooqi believes that last year’s UAE trade mission to Brazil contributed to the increase of inquiries from Brazilians. Another important step was the signing of a memorandum of understanding (MoU) between the Port of Abu Dhabi and the Arab Brazilian Chamber of Commerce (ABCC). “KIZAD has been collaborating and streamlining its engagement with key Brazilian investors seeking to develop business in the region. The mission resulted in a large increase of inquiries, and the ABCC has been supportive in facilitating these discussions,” he said.

One attraction of the free zone is its proximity to Africa and the Gulf Cooperation Countries (GCC), which streamline the process while reducing freight costs, for example. According to KIZAD, trade between the GCC and Brazil is currently estimated to be worth USD 15 billion, and Al Marzooqi is optimistic about the post-pandemic. “As KIZAD facilitates and add more value to these investments, we expect this figure will continue to grow in the years ahead,” he said.

The director stressed the importance of Brazilian companies, particularly food manufacturers, in supporting other countries. “Brazil is among the largest manufacturers and distributors of food in the world, and post COVID-19, we expect it will continue to play a major role in contributing to international food security through its activity in KIZAD’s food manufacturing and logistics hub,” the director pointed out.

Source: ANBA