Khalifa Industrial Zone Abu Dhabi (KIZAD), an Abu Dhabi Ports subsidiary, has waived charges for over 75% of its services, in line with the Abu Dhabi Government directive to encourage further investment into the emirate.
Three quarters of services will be offered free of charge, while fees for a significant number of the remaining services will also be reduced and streamlined to a simpler tariff structure.
It is hoped that the initiative will contribute to savings for investors while raising the competitiveness of KIZAD.
Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, said: “The cost of setting up and maintaining a successful business at KIZAD is more achievable now than ever before.
“It is an ideal opportunity for companies of all sizes to benefit from such incentives for either growing their business or entering new markets.”
The exemptions are aligned with Ghadan 21, the three-year AED50bn (US$14bn) Development Accelerator Programme for the emirate.
Since it was launched in 2010, KIZAD has attracted more than 500 investors and AED65bn (US$18bn) in investment across multiple sectors, including metals, polymers, oil and gas, automotive, food, energy and logistics.
The new fee structure will be applicable from August 2019 onwards.