Thu 16-07-2020 22:46 PM
ABU DHABI, 16th July, 2020 (WAM) — President His Highness Sheikh Khalifa bin Zayed Al Nahyan, in his capacity as Abu Dhabi Ruler, issued Law No. 16 for 2020 on ZonesCorp in Abu Dhabi.
The law stipulates that ZonesCorp will be dissolved and all its assets, rights and obligations will be transferred to Abu Dhabi Ports Company (PJSC). ZonesCorps employees and contractors will be transferred to the company.
Pursuant to the law, Abu Dhabi Ports, directly or through any of its companies, will establish, own, plan, manage and operate economic zones, as well as develop its infrastructure, and provide services required by facilities or companies to practice their activities in the economic zones, in cooperation with relevant authorities. It must also provide economic zones with technical, administrative, logistic and technological support.
The company will also identify and collect fees for its services, draft relevant regulation, manage and operate workers housing in the emirate according to enforceable laws, and issue licences for practising business and other activities in economic zones, as well as setting policies and regulatory procedures to grant and cancel licences, in coordination with relevant authorities, or any other tasks specified by the Executive Council or the holding company.
The current policies, regulations and resolutions will continue to be effective until new policies regulating the economic zones are issued.