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Several Chinese companies are planning to set up manufacturing facilities at the China-UAE Industrial Capacity Cooperation Demonstration Zone (JOCIC Park) under the Khalifa Industrial Zone Abu Dhabi (Kizad), giving further impetus to the Belt and Road Initiative (BRI) partnership between the two countries.
These projects are part of the BRI and are aligned with Abu Dhabi’s economic vision 2030, according to Jianzhong Gong, vice president of JOCIC.
The investments will be joint ventures or independent projects, he said, estimating the investments in the region of $10 billion.
“The projects represent the vision of UAE and China leaders and aim to assist clients in implementing projects. The existing projects are part of the BRI initiative, which is taking a new course with increased vigour and momentum,” he said.
The JOCIC Park, a key initiative under the China-UAE Belt and Road collaboration, is signing up more than 30 co-operation projects. The Park is a prime destination for Chinese companies looking to invest in the Middle East, playing a crucial role in China-UAE industrial capacity co-operation.
JOCIC is organising the Chinese Industrial Products Exhibition (CIPE) at JOCIC Park in collaboration with the Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi Customs, Abu Dhabi Investment Office (ADIO) and KEZAD Group on 18 and 19 November. The CIPE will feature more than 100 exhibitors from industries including advanced manufacturing, green energy, oil equipment and environmental solutions.
A few of the participating companies are potential investors at Kizad, the official said, adding that the total number of companies planning to set up manufacturing facilities is around 40. A few companies have already signed MOUs and others are expected to sign agreements during the exhibition
“At KEZAD, we are prepared to support industries with the infrastructure and resources they need to thrive,” added Khalid Al Marzooqui, vice president, international business development of KEZAD Group.
(Reporting by Bhaskar Raj; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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