Streamlined business model aims to accelerate the innovation and commercialization of renewable energy and clean technologies at Masdar City
The acceleration and commercialization of renewable energy and clean technologies are fundamental aspects to advancing the Abu Dhabi’s Economic Vision 2030. Backed by visionary leadership and through the innovative Masdar Initiative – Abu Dhabi is well positioned to emerge as a global leader in delivering the world with new sources of clean, sustainable power. Masdar City plays an integral role in transforming Abu Dhabi’s economy by serving as the centralized test bed attracting major global companies to set up operations and develop cutting-edge technologies to be implemented toward a sustainable future. A key reason Masdar City is attractive for leading international and local technology companies is the ‘One-Stop Shop’ service offerings.
Masdar’s ‘One-Stop Shop’ is a suite of business services designed to streamline the establishment of on-site business operations, which enhances Masdar City’s business-friendly environment and establishes a customer oriented culture, both critical drivers necessary to excel in a highly competitive economy. With one central location, the ‘One-Stop Shop’ handles all registration, licensing and leasing issues related to Masdar City, as well as all government services, such as visas and customs.
In short, ‘One-Stop Shop’ provides a single point of contact for companies with interest to setup business operations in Masdar City and acts as their interface with various Abu Dhabi government authorities and various service providers. To date, more than 70 companies are registered and licensed through ‘One-Stop Shop.’
Dr. Sultan Ahmed Al Jaber, CEO of Masdar, said: “Masdar is the catalyst for knowledge transfer in Abu Dhabi, and we value the critical role collaboration with multinational companies and governments will play to strengthen the regional sustainability industry.
“We are confident the ‘One-Stop Shop’ delivers the essential ingredients for any business to flourish and grow a valuable presence in the Middle East,” added Dr. Al Jaber. “The ‘One-Stop Shop’ offers a comprehensive platform for cleantech and renewable energy visionaries – big and small – to invest and commercialize the sustainability technologies of tomorrow.”
In addition to the valuable ‘One-Stop Shop’ services, Masdar City acts as a Special Economic Zone, providing business benefits such as 100 percent foreign ownership, zero income and corporate taxes, and no currency restrictions. These business-friendly features are complemented by Masdar City’s state-of-the-art technology infrastructure, world-class facilities, and liberal investment regulations creating a favourable environment for companies to freely conduct business.
Leading global technology and renewable energy companies that have already chosen Masdar City to base their Middle East operations include: GE, BASF, Mitsubishi, Schneider, Bayer, Sun Edison, and Sener.
Ahmed Baghoum, Director, Masdar City Zone, said: “Masdar City offers an attractive, technologically-advanced platform for companies to integrate into and commercialise innovations in renewable energy and clean technology. With the ‘One-Stop Shop’ approach, we’ve made doing business easy, and companies now have a viable option to build a sustainability portfolio and establish a long-term presence in the growing Middle East.”
To supplement the physical location of the Special Economic Zone, the ‘One-Stop Shop’ also offers the ‘Customer Lounge,’ an online portal enabling access to similar convenient business services. Already operational, the user-friendly portal currently features a robust service-offering and will eventually include the full range of ‘One-Stop Shop’ amenities.
In addition to the business facilitation incentives, new tenants can benefit from Masdar City’s pioneering sustainable design, encapsulated by efficient use of energy, water and waste, energy-intelligent buildings and competitive rental rates. Provisionally located at the Injazat Building in Mohammed Bin Zayed City, the ‘One-Stop Shop’ will be permanently shifted to Masdar headquarters at Masdar City, and will host major Abu Dhabi government departments, and other service providers.