MUMBAI, India, October 28, 2013 /PRNewswire/ --
Indian market urges Kizad onsite office to be finalized by Q1 2014
Officials from ADPC's Khalifa Industrial Zone Abu Dhabi (Kizad) recently met with Indian business leaders at an exclusive forum held in Mumbai to announce the launching of Kizad's Mumbai office. Kizad officials were addressing the vast growing interest of investors from the subcontinent in the Abu Dhabi based industrial zone, acknowledging the need for the onsite office to be launched and fully operational by Q1 2014.
With around 140 guests, including key Indian business and industry leaders, and the UAE's Vice Consul in Mumbai, the number of attendees went far beyond expectations, proving this forum to be a tremendous success and an inevitable step in paving the way for solid negotiations between Indian industrialists and Kizad.
The forum, held at the Grand Hyatt in Mumbai, opened with a key note speech by Engineer Khaled Salmeen, CEO and Managing Director of Kizad. In his presentation he gave latest updates, for the first time, about the fast developing industrial zone in which nearly 40 national and international investors from a broad range of industry sectors have begun construction of their facilities. He reiterated Kizad's benefits to Indian investors, including its accessibility to global markets, ease of doing business as well as the low operating cost environment - all vital to industries looking to invest in Kizad.
In the following panel discussion Indian industrialist Vijay Kalantri, President of the All India Association of Industries, Vice Chairman of the World Trade Centre Mumbai and Director of the World Trade Centres Association (WTCA) New York, shed light on the current shape of Indian investment in the UAE and on the benefits Indian businesses receive by being based in the UAE, pointing out Kizad as an excellent investment opportunity.
Kizad is fully integrated with Khalifa Port and investors benefit from the proximity of the only semi-automated port in the region. Martijn Van De Linde, CEO Abu Dhabi Terminals, highlighted Khalifa Port as providing unprecedented gateways to access Middle East and African markets. Over the past decades, the subcontinent has emerged as one of the top investors in the UAE, with a total investment worth more than AED 190 billion, resulting in the set-up of over 26,500 companies to date.
Commenting on the new India office, which will be located in the Bandra Kurla Complex, a high end commercial district in the Mumbai suburbs, panellist Alexander Haex, VP Business Development at Kizad, added:
"The vast amount of requests from potential investors from India has made it necessary to plan for an onsite office, allowing us to provide a closer and more personal customer service. Investors moving to Kizad will not only have the UAE as a new market; they will access the whole Pan Arab region. The huge success of this conference confirms that our decision to launch our office in Mumbai is a good business decision."
Emil Pellicer, Legal Consul to ADPC, gave insights into the legal framework of Kizad with a particular focus on the Musataha Agreement, its terms and conditions. The up to 50 year bankable agreement has several salient features of interest to investors looking for long term security and stability.
Commenting on the economic relationship between India and the UAE, Salmeen said:
"The UAE's historical ties with India and the existing business and commercial relationships between the two countries dictate a natural progression of India's industrial commitment to the UAE. There are several industry sectors between the two nations that can supplement and complement each other. We are looking forward to refine these sectors and provide the best possible platform to welcome Indian investors to Kizad."
Against this backdrop, Abu Dhabi has been emancipating itself from the oil and gas sector and created a transparent, stable and low cost business environment, attracting an increasing number of foreign investors, especially from South Asia.
The recent ranking of Abu Dhabi as one of the world's top five most attractive cities to invest in, executed by the Reputation Institute in New York, confirms this from a global perspective.
With a wide range of industry clusters, state-of-the-art ICT services, a regional rail network through Etihad Rail, an ease-of-doing-business policy and unparalleled global market access through its deep water Khalifa Port, Kizad is the region's largest industrial zone, adding significantly to Abu Dhabi's attractive economic profile.
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