(MENAFN- Khaleej Times)
About 20 Chinese companies are set to start production this year from the JOCIC Park, which serves the 'Belt and Road' initiative, in Khalifa Economic Zones Abu Dhabi (KEZAD), top officials told Khaleej Times.
Jiangsu Overseas Cooperation and investment Company (JOCIC), a Chinese state-owned enterprise, is attracting Chinese companies to set up business, manufacture products and explore the local and regional markets, said Wu Bin, deputy general manager of JOCIC.
“We invested and built this (JOCIC Park). We offer a platform for Chinese companies to come here. About 20 companies have signed agreements to invest here. We expect them to start production within this year. They will invest in making products for the UAE and overseas markets,” Bin said on the sidelines of a press conference to announce the Chinese Industrial Products Exhibition 2024 and a cooperation agreement with Dubai-based MIE Event.
Last year, China's investments in the UAE grew 16 per cent to $1.3 billion, accounting for 60 per cent of the total value of China's investments in Arab countries.
Bin noted that some Chinese companies have started manufacturing products like pipelines and gas containers. Also, some industrial firms are expected to set up their regional headquarters at the park and establish institutes for research and development, IT and biotechnology.
“We welcome all top Chinese companies here, and explore the UAE and GCC markets,” he said and noted that JOCIC offers a one-stop service centre for companies and investors.
JOCIC was established in 2017 to manage, operate and develop JOCIC Park (initially known as the China-UAE Industrial Capacity Cooperation Demonstration Zone). The park, planned in a 12.2sqkm area, focuses on the industries of equipment manufacturing, oil and gas, new energy, environmental protection, chemicals, metal processing, storage and logistics and construction materials, among others. Phase 1 of 2.2sqkm has been completed and features a business service centre and industrial areas.
“We will start construction of Phase 2 by the end of this year,” Bin said about the project, which covers an area of 10sqkm and will house workers' accommodation for 5,000 people.
Industrial products exhibition
Meanwhile, the Chinese Industrial Products Exhibition 2024 will be held from November 18 to 19 at JOCIC Park, said Zou Yonggang, the general manager of JOCIC.
“About 100 leading companies are expected to showcase their innovative products. These companies will demonstrate China's manufacturing capabilities.”
Yonggang highlighted that the JOCIC Park is a“major cooperation” project serving the 'Belt and Road' initiative.
“Currently, the construction of supporting infrastructure in the JOCIC Park has been largely completed. A total of more than 30 projects have been signed. The first batch of enterprises has officially started production, making it one of the preferred destinations for Chinese enterprises to invest in the Middle East and an important platform for China-UAE capacity cooperation,” Yonggang said and noted that the exhibition will further deepen the economic cooperation and trade between the two countries.
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