HFZA to boost Indian firms’ trust in Sharjah’s investment landscape
Hamriyah Free Zone Authority (HFZA) has reiterated its commitment to providing all the necessary means to boost the confidence of more than 1,400 Indian companies operating in the free zone in various industrial and commercial sectors.
The authority added, “We spare no effort to provide all the facilities, the administrative, technical, and logistical services that ensure ease of doing business in Sharjah. This is in keeping with the strenuous UAE-India efforts to strengthen the solid economic, trade, and investment ties between the two friendly countries.”
This was stated during a speech by Saud Salem Al Mazrouei, Director of the Hamriyah Free Zone Authority, during the Tamil Entrepreneurs Forum, organised by the Tamil Entrepreneurs & Professionals Associates, UAE, at Holiday Inn Hotel, Dubai.
The forum aims to encourage and facilitate business development for the Tamil-speaking community.
In his speech, Al Mazrouei said that the UAE and India had enjoyed a strong trade relationship for many years, and as these relations continue to grow, the trade markets grow and diversify.
“On 18th February, India and the UAE inked a Comprehensive Economic Partnership Agreement (CEPA) that is being billed as a historic one in many ways. This agreement will usher in a new era in our bilateral economic relations and it is estimated that the bilateral trade volume will increase from $60 billion to $100 billion in five years,” he added.
Al Mazrouei added that Indian companies at HFZA take advantage of the many benefits on offer. This includes the strategic location connecting the East and West, sophisticated infrastructure, unrivalled global connectivity, and proximity to the port, which facilitates the import and export operations and raises trade exchanges.
He added that the free zone also sets its sights on the companies wishing to expand and grow through the availability of industrial and commercial plots of land and free spaces for future expansions.
“Incorporating the principles and best practices of free trade, UAE free zones help stimulate trade and investment, and facilitate the transfer of skills, knowledge and technology. UAE free zones offer 100 per cent foreign ownership, with no requirements of local sponsors or service agents. Business owners can also enjoy 100 per cent repatriation of revenues and profits, and 100 per cent transfer of funds. More importantly, there is a time-bound waiver of all corporate taxes and import and export taxes, and exemption from all personal taxes,” Al Mazrouei said in conclusion.
DAFZ welcomes european delegation: Dr Mohammed Al Zarooni, Executive Chairman of the Dubai Integrated Economic Zones Authority (DIEZ), welcomed a high-level delegation from the Senate of Economy Europe.
The delegation led by Dr Walter Doring, Chairman of the Senate of Economy, aims to explore future cooperation and investment opportunities offered by the Dubai Airport Free Zone (DAFZ).
The meeting was also attended by Amna Lootah, Director-General of DAFZ, and Dieter Hrthe, Honorary Consul General at the Senate of Economy Europe, as well as representatives of leading innovative European companies across various sectors.
Al Zarooni said, “Through its world-class fee-zones, including DAFZ, Dubai Silicon Oasis and Dubai CommerCity, DIEZ offers unique investment opportunities. The three free zones offer advanced infrastructure, supported by an integrated ecosystem, innovative solutions, and a global network of partners. They also offer tax incentives and competitive investment advantages that make them a preferred regional and global destination for all types of investments.”
“The three free zones constitute a strategic hub for business and investment, as they are home to more than 5,000 international multinational companies and SMEs across various sectors. DIEZ seeks to realize the vision of Dubai’s wise leadership, in creating a diverse economic market characterised by efficiency and ease of conducting business, in order to enhance Dubai’s competitiveness in various economic sectors. This visit highlights a high level of confidence in DIEZ economic zones, which is a result of their strong record in supporting business growth and sustainability for companies in multiple sectors. The visit has strengthened mutual economic and investment relations with our partners in the European markets,” he added.
For its part, the delegation expressed appreciation for the warm welcome they received. Dr. Walter D?ring praised the UAE and the emirate of Dubai for the advanced position in the global trade, as a highly attractive investment ecosystem for FDI. Dr. Doring expressed that the UAE’s wise leadership is renowned for their futuristic vision, which covers all aspects of life, particularly in the business sector.