Masdar, an Abu Dhabi-based clean energy company, signed a framework agreement with the Khalifa Fund for Enterprise Development in Abu Dhabi, UAE, to explore areas of collaboration in the growing clean technology sector in the emirate and work towards fostering greater business development expertise.

The agreement was signed by Dr Ahmad Belhoul, CEO of Masdar, and Abdullah Al Darmaki, CEO of the Khalifa Fund for Enterprise Development, at Masdar headquarters.

With a clear focus on enabling Emirati entrepreneurs, the agreement capitalises on the synergies to be realised through closer collaboration, innovation and business development. It spans all relevant areas of clean tech enterprise activity encompassing different projects across Masdar, Masdar Institute and the Khalifa Fund.

The agreement also makes provision for Khalifa Fund-related enterprises to enjoy significant benefits when choosing to locate in Masdar City. Qualifying companies will be exempt from registration fees and first year licensing fees. This builds on an already compelling business case for choosing Masdar City, where entrepreneurs enjoy exemptions from custom duty and corporate tax, and full repatriation of both capital and profits. This comes atop quick and easy business set-up with a ‘One-Stop Shop’ for registration, government relations, and visa processing.

“The clean tech sector holds significant opportunities for the UAE and for Emirati entrepreneurs. Our partnership with the Khalifa Fund will help further develop talent and add to a growing list of UAE clean tech success stories, many of which have started at Masdar,” Belhoul said. – TradeArabia News Service