A delegation from Sharjah Airport International Free Zone Authority, SAIF Zone, successfully highlighted Sharjah as an appealing investment destination in eight Indian cities with road shows and business forums.
The road show, which was conducted in Kochi, Chennai, Coimbatore and Bangalore, was in association with the Confederation of Indian Industry, CII, and the Federation of Indian Export Organization, FIEO. In Mumbai, Ahmedabad, Baroda and Surat, the team participated in an international business forum entitled "Taking Business Globally".
"The overall response was overwhelming and positive. We expect a good number of entrepreneurs and investors to turn to SAIF Zone in the near future, especially for warehouses and plots of land", said Saud Salim Al Mazrouei, Director of SAIF Zone. "Nearly 50 percent of our investors in SAIF Zone are from India", Al Mazrouei added.
"Sharjah is the industrial backbone of the UAE and establishments in SAIF Zone enjoy exemptions from import and export duties, income and corporate taxes in addition to the free repatriation of capital", Al Mazrouei noted while addressing the business forum in Mumbai.
"In addition, the Sharjah government subsidises 70 percent of the utility costs, including any water and electricity consumed in the free zones. SAIF Zone's manufacturing sector also offers good collaboration opportunities for Indian traders and service providers seeking opportunities in the Middle East market", Al Mazrouei continued.
Established in 1995, the Free Zone now houses about 7,000 businesses from 149 countries. These include some of the world's leading logistics and light manufacturing companies.
"The 20-year old SAIF Zone has emerged as an ideal business hub. Even a small investor can set up business units here with an investment as cost effective as US$7,070 per year," Al Mazrouei said.
In 2014, two leading credit rating agencies, Moody's and Standard & Poor's, accorded Sharjah sovereign credit ratings of A-3 and A with stable outlook. Those ratings compare favourably with many other emerging markets with strong economic fundamentals, underlining Sharjah's position as an appealing destination for foreign investment.
SAIF Zone has a wide range of state-of-the-art business solutions for companies in the fields of light manufacturing, consumer durables, medium manufacturing, media and IT services. These include fully furnished executive offices which cover utility fees and parking space, pre-built warehouses, storage areas, plots of land, temporary warehouses and parking areas for containers and bunkers. SAIF Zone has recently built 127 units of ware houses of different sizes .
Sharjah has three deep-water ports situated on either side of the Straits of Hormuz, the Khalid Port and the Hamriyah Port along the Arabian Gulf, and the Khorfakkan Port along the Gulf of Oman. In addition to the sea freight services available in the three ports, traders and manufacturers can also benefit from Sharjah's unique location which facilitates inter-modal transport flexibility, combining air links with sea freight handling, thereby cutting freight cost and saving on shipping time.
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