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UAE Freezones Biz News Updates
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UAE’s SAIF Zone brims with lessons for Goan industry
With single-day licence issuance, lack of complex taxation, duty-free import
and export, plug-n-play facilities and well-oiled logistics, the Sharjah
Airport International Free Zone (SAIF) has a lot of lessons for Goa,
especially the department of industries, Goa industrial development
corporation and other regulatory authorities.
The Confederation of Indian Industry (CII) organized a special seminar in
collaboration with SAIF Zone in the capital city on Saturday. Titled
'International business forum - taking business globally' the event was
aimed at showcasing the benefits for Indian companies setting up operations
in Sharjah, United Arab Emirates.
SAIF Zone has a triple A rating from Moodys and ranks high in terms of ease
of doing business. "We offer permissions to register and commence operations
within 24 hours, irrespective of whether an entrepreneur wants to start a
manufacturing plant, service-sector company, trading firm or chemical
handling plant," deputy commercial director, SAIF Zone authority Raed
Bukhatir said.
While local entrepreneurs argued that it would be hard for Goa to emulate
the SAIF model, they did agree that the state could do a lot more to improve
the ease of doing business.
"SAIF Zone offers good time frames, no taxes, 24-hour clearances, available
premises. We need to learn from them and look forward," CII-Goa chairman
Parag Joshi said.
The state presently ranks 19th on the scale of ease of doing business in
India and has a lot of catching up to do. The plot allotment process itself
takes a minimum of a year. Entrepreneurs have to run from pillar to post to
get the requisite clearances and, unlike SAIF, they have to produce their
business plan, balance sheet for the last few years, educational
qualifications, resume and several other documents before their application
for an industrial plot is accepted.
The SAIF Zone was set up in 1995 and currently houses 7,225 companies within
its complex. About 48% of these companies are owned and managed by Indians.
Dec 13, 2015 |
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Courtesy Bennett, Coleman & Co. Ltd.
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