Abu Dhabi Claims to be the Logistics Hub of the Middle East

Abu Dhabi is doing its all to claim the title of the logistics hub of the Middle East, fighting Dubai’s claim. It has already launched its own airline. Further it has announced that it will expand its airport and seaport both.This UAE capital has passed a legislation as per which foreign ownership is allowed to companies based in the Industrial City of Abu Dhabi (ICAD). This facility is also extended in a number of other planned free zones. The massive ICAD will also be expanded by launching the 10 km2 ICAD 2. Abu Dhabi has until recently been relying on its oil reserves. However, it is now attempting to spread its industrial base by allowing foreign direct investment (FDI). Itp.net reports:

As part of this drive, the government also established the Higher Corporation for Specialized Economic Zones (HCSEZ) in 2004, which is charged with creating a number of specialized free zones. The latest step in this plan is to allow 100% foreign ownership of companies based in ICAD.