Abu Dhabi, UAE – The Emirati company AG announced the signing of a strategic partnership with Akbar Investment Company in South Korea. To study the establishment of an industrial zone specializing in Korean industries in the Emirate of Abu Dhabi. In a move that reflects the growing economic and investment cooperation between the UAE and the sisterly Republic of Korea.
The announcement came in conjunction with the visit of a high-level Korean delegation to the Emirate of Abu Dhabi, which included representatives of governmental and semi-governmental agencies and investors. Chaired by Mr. Jung Min Kim, Member of the Korean National Assembly, Member of the Committee on Trade, Industry, Energy, SMEs and Startups.
15 memorandums of understanding
The agreement witnessed the signing of 15 memorandums of understanding with a number of Korean companies and factories operating in various industrial sectors. The industrial zone is expected to include more than 25 factories in its first phase. With investments exceeding one billion US dollars.
The Korean delegation held a series of meetings with relevant authorities in the emirate, including the Abu Dhabi Investment Office and Khalifa Economic Zones Abu Dhabi “Kizad”. To learn about the advanced investment environment provided by the emirate, and the modern infrastructure and services it provides. And facilities that support the growth of industrial and technical investments.
The delegation also held meetings with a number of Emirati businessmen and investors. During field tours, he was briefed on the level of readiness and operational efficiency enjoyed by the Emirate of Abu Dhabi. Which enhances its position as a global destination for qualitative industrial investments.
