Kizad is a subsidiary of Abu Dhabi ports, the latter unveiled its own stimulus for businesses within its freezones earlier in response to COVID-19
A package offering up to 36% of savings for businesses has been launched by Khalifa Industrial Zone Abu Dhabi (Kizad). The package aims to support small and medium enterprises (SMEs) challenged that have come under pressure by the global economic slowdown due to COVID-19.
According to a statement, the relief package offers both existing and prospective Kizad Freezone customers savings of up to 25% on new registrations and renewals, a waiver on the security deposit and two months free on renewals for all packages registered before June 30, 2020.
The launch of the package is said to align with Abu Dhabi Ports and the Government of Abu Dhabi’s efforts to support and safeguard businesses.
“Small and medium enterprises are the backbone of any economy, and are a vital component of Abu Dhabi’s business landscape. As engines for growth and employment, SMEs are one of the main pillars of Kizad’s business strategy. As one of the leading enablers of industry, it is our responsibility to provide businesses with the opportunities to be competitive in their respective markets. The SME relief packages we announced today are aligned with the UAE’s efforts to protect SMEs in the country from the economic impact of the coronavirus pandemic,” said Khalid Al r, ncommercial director at Kizad.
SMEs are a crucial component of Abu Dhabi’s business landscape and one of the main pillars of the Ghadan 21 programme, which Kizad adheres to. Approximately 98% of all companies in Abu Dhabi are SMEs, which contribute 29% of its GDP and 44% of its non-oil economy, the statement noted.
Kizad’s relief package is said to be available in three tiers, the first providing 25% savings on renewal or new registrations of three-years, 20% savings for two-year registrations and renewals, and 15% savings for one-year registrations. Across all packages, new and existing customers will also benefit from having their security deposit waived, Kizad explained.