ADIO Incentivises Global AgTech Companies To Establish Presence In Abu Dhabi

The Abu Dhabi Investment Office, ADIO, has identified a clear set of cash and non-cash incentives which will be made available to Agriculture Technology companies locally to aid growth and international companies to accelerate their establishment in Abu Dhabi. The incentives could reach up to 75 percent rebate on R&D expenses, subject to eligibility and commercialisation conditions.

The move follows the announcement made today by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to allocate series of incentive packages totaling up to AED1 billion for local and international Agriculture Technology, AgTech.

Saif Mohammed Al Hajeri, Chairman of the Department of Economic Development, commented, "The incentive packages will enable the creation of advanced AgTech knowledge in Abu Dhabi and help to solve traditional farming challenges. This will not only benefit the UAE, but also other nations across the world with arid conditions. Our aim is to position Abu Dhabi as a beacon for innovation in agriculture technologies applied to desert environments."

Incentive packages will be awarded to local and international companies focused on delivering solutions within three key sub-sectors: Precision Farming and Agriculture Robotics; Bioenergy (algae); and Indoor Farming. Each of the sub-sectors leverage Abu Dhabi’s climate and environment including plentiful land availability, natural heat and sunlight conditions.

In turn, Elham Al Qasim, Acting CEO of ADIO, said, "ADIO’s objective is to create clear and specific investment opportunities for domestic and foreign investors aligned with Abu Dhabi’s economic priorities. These opportunities can be in the form of public-private partnership projects or sector incentives such as the AgTech package we have launched today. The AgTech incentive packages will not only create a vibrant AgTech ecosystem, but also stimulate the agriculture industry in Abu Dhabi."

In addition to the generous AgTech packages on offer, she said, Abu Dhabi also offers numerous benefits to businesses and innovators including globally competitive tax rates, world-class infrastructure, the ability to handle high-volume commodities, inexpensive energy sources and favourable tariff structures.

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