Masdar City Free Zone opens its first representative office in China
BEIJING, 3rd December, 2017 (WAM) – The Masdar City Free Zone has opened its first representative office in China, in a move that reflects Abu Dhabi’s growing role as a global center for innovation and sustainable economic growth.
The new representative office of the free zone was opened in Masdar City within the Suzhou Industrial Park, during a week-long promotional tour in a number of Chinese cities, in cooperation with A&A Associates and with the support of the Abu Dhabi Investment Office.
The tour brought together several Fortune 500 and Global 500 companies, government officials, investors, and entrepreneurs in the fields of artificial intelligence, biotechnology, robotics, and sustainable mobility.
The opening coincided with the signing of a number of strategic memorandums of understanding, in cooperation with the Abu Dhabi Investment Office, with the aim of strengthening economic and technological relations and sustainability efforts between the United Arab Emirates and the People’s Republic of China, and supporting the goals of the “Falcon Economy.”
The Free Zone in Masdar City is a leading business center in Abu Dhabi, as it hosts more than 2,000 companies representing more than 90 countries, and provides an integrated system for innovation in the sectors of artificial intelligence, clean technology, life sciences, smart mobility, agricultural technologies, and space technology.
The expansion towards China comes in line with Masdar City’s mission to attract foreign direct investment, accelerate technology transfer, and open new horizons for cooperation with one of the most prominent innovation centers in the world.
During the tour, the free zone signed a number of strategic agreements, including a cooperation agreement with the Suzhou Industrial Park to promote investment, trade and innovation, especially in the fields of technology, renewable energy and sustainable development, establishing direct institutional cooperation between the two leading free zones and opening new paths for exchanging knowledge and facilitating business.
It also included signing an agreement with Suzhou Yingde Consulting Company to assume management of the new representative office of Masdar City in the industrial complex, facilitating the establishment of Chinese companies for business in Abu Dhabi, and enabling them to benefit from Masdar City’s advanced infrastructure and its advanced system in the field of sustainability.
The tour included the signing of a cooperation agreement with the Beijing Zhongwancun Science City Development Company with the aim of designing business offers specifically for emerging Chinese companies, facilitating business establishment procedures in the UAE, and enhancing communication and joint innovation, linking the innovation systems in Abu Dhabi and Beijing, especially in the sectors of artificial intelligence, biotechnology, clean technology, and smart city innovation.
This cooperation supports the goals of the “Falcon Economy” by attracting high-impact industries and enabling technology transfer.
These agreements strengthen the position of the Masdar City Free Zone as a major gateway for Chinese innovations to the Middle East region, and also allow Emirati companies to access advanced technology and industry centers in China, and contribute to supporting national priorities related to sustainable economic diversification and achieving a positive environmental impact.
Dr. Mohammed Al Buraiki, Executive Director of the Free Zone and Sustainable Development Sector in Masdar City, said: “The expansion of Masdar City in China represents a new chapter in our mission to connect global innovation systems and consolidate bridges of communication between Abu Dhabi and the world’s leading technology centres.”
He added that through partnership with leading Chinese institutions, we are paving the way for the exchange of technology, investment and sustainable growth in a way that achieves tangible benefits for the two countries, pointing out that these agreements represent a tangible step towards achieving the vision of the “Falcon Economy.”
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