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His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has approved a series of incentive packages totaling up to Dh1 billion for local and international Agriculture Technology, AgTech, companies to build and grow a presence in Abu Dhabi.
The announcement aims to drive the development of the AgTech ecosystem and to establish Abu Dhabi as a global centre for desert environment agriculture innovation.
Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Chairman of the Executive Committee and Member of the Abu Dhabi Executive Council, said, "This initiative has been launched to accelerate the growth of local AgTech companies and encourage other leading international companies in the field to invest in Abu Dhabi. Helping to transform the sector and in turn, create new opportunities that will positively impact the economy in the mid and long-term future."
Incentives and benefitsAbu Dhabi offers a wide range of benefits to AgTech businesses and entrepreneurs- Globally competitive tax rates - World-class infrastructure - The ability to handle high-volume commodities - Inexpensive energy sources - Favourable tariff structures |
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