Al Masaood Completes Phase 1 & 2 of Bonded Warehouses System
31 July 2023
Following our strategic collaboration with the General Administration of Customs in Abu Dhabi, I am happy to report that we have now completed the implementation Phase 1 and Phase 2 of our bonded warehouse system. This project aims to create better synergies between the government and private sectors, leading to improved work efficiencies and substantial cost savings.
This project will pave the way for seamless import and export operations for Al Masaood. The Group will benefit from smooth Port-to-Warehouse processes covering all vehicles as well as all automotive and industrial spare parts imported by Al Masaood businesses.
The operational implementation is expected to ease the process of shipment clearances for all goods and vehicles, and will present additional benefits to Al Masaood in terms of deferred taxes, long-term storage capabilities, as well as convenient international shipping.
This is a positive step forward in our quest to forge productive collaborations between the public and private sectors in the UAE. A big thank you goes to all teams involved.