Al Masaood Group, one of Abu Dhabi’s leading business conglomerates, has successfully completed Phase 1 and Phase 2 of its bonded warehouse system in collaboration with the General Administration of Customs in Abu Dhabi.
This collaboration is a result of a strategic partnership between the two entities announced in 2022 that aims to create better synergies between the government and private sectors, leading to improved work efficiencies and substantial cost savings.
The successful implementation will also see more seamless operations for imported and exported goods at Al Masaood Group’s premises in Abu Dhabi.
Ahmed Salmeen, Al Masaood Group’s Chief Executive, Government Affairs said: “The completion of both phases of the bonded warehouse system is a significant milestone that marks a new era of seamless operations for Al Masaood Group’s imported and exported goods in Abu Dhabi.
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“This was only realized with our steadfast partnership with the General Administration of Customs in Abu Dhabi and underscores our commitment to developing and nurturing alliances with private and government entities in the UAE.”
Certified as a gold supplier for bonded warehouses, Al Masaood is also the first private sector company to be accredited by the General Administration of Customs in Abu Dhabi in the field of importing and exporting general goods under the global ‘Authorized Economic Operator’ program.
With the successful implementation of the first two phases of the bonded warehouse system, Al Masaood will benefit from seamless Port-to-Warehouse operations covering all vehicles as well as all spare parts imported by the Group’s divisions, whether for vehicles or industrial engines.
The operational implementation, ultimately, will significantly ease the process of shipment clearances for all goods and vehicles.
“The bonded warehouse system has inherent operational and cost benefits for Al Masaood Group. These benefits will also prove advantageous to end-users of our products and customers,” concluded Salmeen.
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