Abu Dhabi: Abu Dhabi will benefit from any move to spread out manufacturing and distribution hubs rather than be reliant on any single source, according to Kizad CEO, Samir Chaturvedi.
“Creating added inventory bases closer to consumption markets will be the solution,” he said. “The global supply chains are changing, the way we do business is changing, together with all its complexities.”
With the UAE and GCC region being a prime market for goods and services, the region stands to benefit from any relocation of manufacturing in a post-COVID-19 world, the official added.
“This can not only help in addressing the challenges from calamites like COVID-19, it can also address many geopolitical challenges too and ensures business continuity in all conditions,” the CEO said.
Heavy on incentive
Abu Dhabi is offering some of choice incentives to attract foreign investors.
“We provide rebates, we provide grants, and we look at other mechanisms in which we can support entities financially depending on the business model and the industry they are focused on,” said Dr Tariq Bin Hendi, director-general at Abu Dhabi Investment Office.
“We also plug businesses into the wider eco system within Abu Dhabi - the equity and investment side of things. We work with key partners such as Mubadala, ADQ and others.”