The Higher Corporation for Specialized Economic Zones (ZonesCorp) highlighted its contribution to the industrialization process of the Emirate of Abu Dhabi through its successful participation as a lead sponsor in the 3rd Annual Abu Dhabi Investment Forum held in London on October 20, 2010. The Corporation demonstrated its key role in attracting foreign direct investments as well as its achievements in supporting the manufacturing sector of the Emirate.

ZonesCopr's participation in the Forum came in line with the participants' objectives that focused on discussing the great economic potential Abu Dhabi is enjoying and the investment opportunities the Emirate is making available to the global investment community. ZonesCorp took part in the event as part of Abu Dhabi delegate where it highlighted its commitment to provide international and local investors with the best integrated business set up and flexible legislative framework that helps ensure the flow of foreign investments.

Mohamed Hasan Al Qemzi, CEO, ZonesCorp, said that the presence of the Corporation in the Abu Dhabi Investment Forum was essential as it succeeded in showcasing the attractive business environment that ZonesCorp has availed for investors who can enjoy the strategic location of Abu Dhabi encompassing the market in Europe, Africa and Asia, in addition to the political and economic stability, integrated infrastructure and unique investment incentives in line with the Emirate's on-going plan to diversify its economic sectors with a strong growth potential for a long-term sustainable economic development.

"It was a privilege for ZonesCorp to be part of such an important event through which we highlighted the key role played by ZonesCorp in creating a highly-successful model of industrial clusters in the UAE," said Al Qemzi.

He delivered a presentation during the Forum in which he illustrated the aspects of Abu Dhabi industrialization and the outstanding role played by ZonesCorp to ensure the swift transition of Abu Dhabi from an oil-based economy into an economy based on information and technology.

Al Qemzi pointed out that the historical results demonstrated success in implementing the industrial agenda which aims to reduce industry concentration, expand industry value-chain coverage, become more selective in prioritizing industrial sectors for development and increasing opportunities for private investors to contribute to industrialization of the Emirate.

"The manufacturing share of Abu Dhabi GDP has increased by nearly 50% in 2009 with a noticeable growth in the industrial sectors," said Al Qemzi. "Moreover, the manufacturing industry output in Abu Dhabi is expected to grow by $ 10 billion, or 56%, in the next five years with a long-term projection of $ 100 billion by 2030, representing 25% of the Emirate's total GDP." He noted that ZonesCorp's success in attracting foreign investments to Abu Dhabi lies in its commitment to create partnerships with government and private sector entities as well as with local and international investors to ensure effective and sustainable use of Abu Dhabi's industrial resources. Manufacturing investments in the total projects managed by ZonesCorp have increased from $ 1 billion to $ 5 billion with a compound annual growth rate that stood at 18%, representing almost 10% of Abu Dhabi GDP, Al Qemzi said.

He added that the number of investors in the projects operating in ZonesCorp has recorded another increase of more than 400%, surging from 100 to over 550 investors since the inception of the Corporation in 2004. ZonesCorp has developed 5 new industrial cities in Abu Dhabi (ICADs) and Al Ain (AAICs) with a total industrial land area of about 45 km2 with 2 more cities (of 45 km2) in the planning phases and an additional 55km2 targeted for future development. ZonesCorp has also provided the market with several workers' residential cities (WRCs) that ensure high quality accommodation features for laborers exceeding all United National Human Rights standards.

Al Qemzi said the industries that cover the enabling sectors within ZonesCorp include construction materials, machinery, electrical equipment, food and beverage. The other sectors which ZonesCorp is focusing on include energy, oil and gas services, metals, aerospace and defense, transportation, trade and logistics.