Welcoming
Indian businesses to invest in Hamriyah Free Zone, Sharjah, Mr Hamad Al Shamsi, Head of Sales, Hamriyah Free Zone Authority
(HFZA), shared the advantages offered by the Free Zone at the Interactive
Session on “Investment opportunities in Hamriyah Free Zone” organised by
the Confederation of Indian Industry (CII) at Chandigarh.
“Sharjah, in the United Arab Emirates, is playing an
important role as the pre-eminent industrial base of the UAE, with its unique
strategic location between three continents, serving a growing market of 1.5
billion people. Sharjah is the only one of the seven Emirates with ports on the
Arabian Gulf’s west coast and east coast with direct access to the Indian
Ocean, and an international airport which connects to 230 cities. It also has a
well-developed infrastructure, geared to industry at all levels to serve Gulf,
regional and international markets”, observed Mr Hamas Al Shamsi.
Reminding
the audience about the longstanding cultural and historical relations between
India and the West Asia region, Mr Amarbir Singh, Vice Chairman, CII
Chandigarh Council, added “Over the years the key focus area of CII
has been globalization of Indian Industry and its integration into the world
economy”. The set-up of Australia, China, Egypt, France, Singapore, UK, and
USA, as well as institutional partnerships with 312 counterpart organizations
in 106 countries, CII serves as a reference point for Indian industry and the
international business community. This network also helps CII to disseminate
vital information related to markets and joint venture possibilities to both
Indian and foreign companies. International events, exhibitions, seminars and
meetings with visiting Heads of States are organized as a part of our global
business networking initiatives and help keep Industry, abreast of developments
globally.
Mr
Muhamed Basheer,
Head of Overseas Promotions, HFZA, said that licences are issued
at the Zone in less than two hours. The types of licences are industrial (for
manufacturing and assembling), service (consultancy), and commercial (general
trading, import/ export).
“Founded in 1995, The UAE’s Hamriyah Free Zone Authority (HFZA) is
currently on the threshold of developing new horizons in industrial growth, and
The United Arab Emirates (UAE)
is India’s top export market in the Middle East and North Africa (MENA) region,
and also a prime gateway to other markets”, observed Mr Basheer.
“Hamriyah Free Zone opened the first phase of Food Plastic
& Packaging zone with total leasable area of 380,000 square
meters and will shortly launch the first phase of the 140,000 sq m Logistics
Park. HFZA offers a range of services and facilities for both
multinational firms looking to expand operations and budding entrepreneurs with
big dreams – 100% tax free, 100% ownership, 100% freedom to repatriate profit
and capital”, he added.
Participants enquired about
financial support in terms of loan by the UAE Banks, labour laws, minimum
wages, facilities available for transportation and cold storage especially for
perishable products and the formalities required to establish the firm in
HFZA.