UMM AL QAIWAIN, 15th June, 2022 (WAM) — The Umm Al Qaiwain Industrial Authority is helping to strengthen the process of development of the emirate of Umm Al Qaiwain and is enhancing its local and international stature, by attracting capital and providing facilities at the 60,000 Square Kilometre Umm Al Thuoob Industrial Area.
The Authority has also highlighted its keenness to help support economic activities in the emirate and the UAE, as well as attract key industries and create a favourable environment for investors.
The Industrial Authority announced an increase in the percentage of lease contracts in the Umm Al Thuoob Industrial Area from 192 contracts in the 2019 fiscal year to 289 contracts at the end of the 2021 fiscal year, an increase of 98 contracts, or 50.21 percent.
It also completed infrastructure works in Umm Al Thuoob, as well as international road development projects in the city to create a modern road network and a comprehensive investment infrastructure for the industrial city.
The Authority then stressed that Umm Al Thuoob is attracting many investors, due to the facilities provided to them and the area’s competitive investment environment that attracts logistics and operations industries, along with the efforts to support industries in Umm Al Qaiwain.
The Umm Al Qaiwain Industrial Authority provides investors with a number of advantages and facilities, including leasing contracts for up to 20 years, competitive prices and creative products in line with the needs of investors, as well as a fee-free period of up to six months, advanced infrastructure and easy procedures for receiving funds from all banks operating in the emirate.