On March 30th, the MCCI and the State Administration of Abu Dhabi Emirate - KIZAD Industrial Zone and the “Incona” company, held a webinar "Abu Dhabi: Opportunities for Russian Manufacturers and Exporters”.
"For us, it is fundamentally important to cooperate with industrial zones, which host companies that adhere to directions of prioritised industries of Moscow - aerospace, extensive chemistry, oil refining, logistics, etc.," said Mr. Suren Vardanyan, the Vice President of the MCCI, in his opening remarks. “The MCCI regularly organizes events, where we tell Moscow companies about the potential of our partners and present the potential of Moscow’s firms to our partners. I am confident that we will be able to implement many projects that will be aimed at the development of business cooperation between the UAE and Moscow".
Mr. Mohamed Gharreb Al Hosani, the Vice President of Investor Relations at KIZAD of Investor Relations of Abu Dhabi Investment Authority, presented a detailed description of the Emirate, which has a GDP of roughly $250 billion. Abu Dhabi ranks among the top 30 global economies. "We lead in the quality of government services and infrastructure, rank 12th in the World’s Ease of Doing Business, 10th in the Best Cities for Expats and stand first in the World regarding personal security. We are focused on growth and inviting talent from all over the world," the speaker emphasized. He detailed how the Emirate helps investors.
According to the moderator of the event - the Chairman of the MCCI Commission on Foreign Economic Cooperation with partners in the UAE, CEO of “Incona”, Mr Alexey Busev, the volume of Russian-Emirati trade, despite the Covid 19 crisis, continues to grow - in particular, during the first 9 months of 2020, the growth reached 66,03%. He listed products and services of Russian companies, which are the most in demand in the UAE, noted the advantages of doing business in this country, analyzed the algorithm for Russian companies in this market and described where and how best to open a company.
Mr. Khalid Al Marzooki, the Commercial Director of KIZAD, spoke about the opportunities for companies, created by this largest free economic zone (FEZ) in the world, and the prospects for its development; about its surrounding transportation system, which allows full cooperation not only with the neighbouring countries (Kuwait, Bahrain Saudi Arabia, Qatar), but also with India. The speaker introduced the audience to the main industrial sectors of the KIZAD zone and described in detail the benefits that are received by companies wishing to "anchor" here.
Mr. Roman Zorin, the General Director of "TRANS FINANCE" LLC, considers UAE "as one of the most promising directions for Russian companies". He described in details the peculiarities of work of onshore and offshore companies in this country, advantages of a company’s registration and opening a corporate account in the UAE. He is convinced that in the short term, it is the best region in the world for doing business.
In conclusion, the speakers answered many questions from the audience, in particular: what support can a company, registered in the FIZ (Free Industrial Zone) KIZAD count on, what industries do they mainly want to see in KIZAD, what expenses does a company incur registering in this FIZ and may a KIZAD’s resident company work directly with government customers, etc.
Mr. Busev suggested that the interested parties should write directly to KIZAD or the MCCI with their questions and inquires. Speakers from the UAE, in their closing remarks, also assured the listeners that every question sent to them will be given a clear and unambiguous answer, and all companies, which have expressed their interest in cooperation, will be provided with the necessary contacts. If required, virtual meetings with potential partners will be organized with their representatives.