UAE- SAIF Zone roadshow stirs Indian investors' interest
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 7000 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 US7070 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.
