Approximately 20 Chinese firms are scheduled to commence operations this year at the JOCIC Park, located within the Khalifa Economic Zones Abu Dhabi (KEZAD) and supporting the 'Belt and Road' initiative, as disclosed by high-ranking officials to Khaleej Times.
Wu Bin, the deputy general manager of Jiangsu Overseas Cooperation and Investment Company (JOCIC), a state-owned Chinese enterprise, highlighted that JOCIC is drawing Chinese companies to establish businesses, produce goods, and tap into both local and regional markets. Bin stated, "We have invested in and constructed this park, providing a platform for Chinese companies. Around 20 companies have committed to investing here, and we anticipate they will begin production this year. Their investments will focus on manufacturing products for the UAE and international markets." These remarks were made during a press conference announcing the Chinese Industrial Products Exhibition 2024 and a collaboration agreement with Dubai-based MIE Event.
Last year, China's investments in the UAE surged by 16 percent to reach $1.3 billion, representing 60 percent of China's total investments in Arab countries. Bin observed that several Chinese companies have already initiated production of items such as pipelines and gas containers. Additionally, some industrial firms plan to establish their regional headquarters at the park and set up research and development, IT, and biotechnology institutes.
JOCIC, founded in 2017, is responsible for managing, operating, and developing JOCIC Park, initially known as the China-UAE Industrial Capacity Cooperation Demonstration Zone. The park, spanning 12.2 square kilometers, concentrates on sectors including equipment manufacturing, oil and gas, new energy, environmental protection, chemicals, metal processing, storage and logistics, and construction materials. Phase 1, covering 2.2 square kilometers, has been completed and includes a business service center and industrial zones. Bin announced, "We will commence construction of Phase 2 by the end of this year," referring to the 10 square kilometer project that will include accommodation for 5,000 workers.
Furthermore, the Chinese Industrial Products Exhibition 2024 is set to take place from November 18 to 19 at JOCIC Park, according to Zou Yonggang, the general manager of JOCIC. Approximately 100 leading companies are expected to exhibit their innovative products, showcasing China's manufacturing prowess. Yonggang emphasized that the JOCIC Park is a significant 'Belt and Road' initiative project. "Currently, the construction of supporting infrastructure in the JOCIC Park is largely complete. Over 30 projects have been signed, and the first batch of enterprises has started production, making it a top choice for Chinese enterprises investing in the Middle East and a crucial platform for China-UAE capacity cooperation," Yonggang noted, adding that the exhibition will further strengthen economic cooperation and trade between the two countries.
