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UAE Freezones Biz News Updates
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Sharjah eyes IT investors from India
 Ali
Mohammed Al-Mutawa, sales officer, left, with Saud Al-Mazrouei, director of
Sharjah International Airport Free Zone (SAIF Zone) and Hamriyah Free Zone
Authority, and Salem Al-Mahmoud, commercial director of the SAIF Zone, receive
Karnataka Chief Minister K. Siddaramaiah at the SAIF Zone pavilion during the
summit in Bangalore.
Sharjah International Airport Free Zone (SAIF Zone) has intensified its
efforts to attract more investors from Indian IT sector.
Saud Al-Mazrouei, director of Sharjah International Airport Free Zone (SAIF
Zone) and Hamriyah Free Zone Authority (HFZA), who led a delegation to
India’s IT city Bangalore last week to attend the two-day India Innovation
Summit, told Arab News that they received an overwhelming response from
investors.
“Karnataka Chief Minister K. Siddaramaiah and other senior officials visited
the zone’s pavilion during the two-day India Innovation Summit that
concluded in Bangalore on Saturday,” he added.
The event, organized by the Confederation of Indian Industry (CII),
attracted over 550 CEOs, CXOs, R&D heads, IT heads, heads of innovation,
innovation consultants, international delegates, academia and trade
officials. SAIF Zone was the international partner for the event.
“SAIF Zone conducted two meetings with the Federation of Karnataka Chambers
of Commerce and Industry and Confederation of Indian Industry during the
summit. The response was very good and we hope that some Indian companies
will move to our zone. We have strategic plans for the Indian IT sector as
we are going to focus more on it,” stated Al-Mazrouei.
Currently, the zone has nearly 6,500 companies. Many well-known Indian
firms, including Godrej and Wipro, already have their presence in the zone.
“India is set to introduce mobile governance, making all the major services
available to users on their fingertips and many companies are interested in
the SAIF Zone as it has excellent sea, land and air transport links with
access to over two billion consumers across the GCC, the CIS, the
subcontinent, parts of Africa, the Mediterranean region and Europe,” he
said.
Renewing the zone’s commitment to further developing the IT sector, Al-Mazrouei
said: “We will make the SAIF Zone the most preferred destination for global
investment. We have a business savvy setup with state-of-the-art facilities,
including pre-built warehouses in a choice of sizes, land on lease for
unrestricted development and a host of other features.”
At SAIF Zone, an investor can set up a company within 24 hours. The company
allows 100 percent foreign ownership and repatriation of funds, exemption
from corporate and personal income taxes, and tax exemption for all imports
and exports. There is also no restriction on hiring of 100 percent
expatriate workers.
Mohammed Salem Al-Mahmoud, commercial director of the SAIF Zone, Ali
Mohammed Al-Mutawa, sales officer, were the other senior members of the
delegation.
Aug 14, 2014 |
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Courtesy Arab News
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