Director General of the Department of Ports and Customs and the Hamriyah Free Zone Authority Rashid Alleem announced today that the number of companies operating in the region rose to more than four thousand and 800 companies from 150 countries and the value of investments amounted to about eight billion dirhams.
This meant that the emirate of Sharjah has become the headquarters for the best free zones offering advanced infrastructure for the establishment of various types of industries and operating as a hub for the distribution of goods and products from the various countries in the markets of UAE and the Gulf region as well as the Middle East, Asia, Africa and Europe, Alleem added.
Speaking at a ceremony held in Sharjah to honour the strategic partners of the HFZA for their support to complete the infrastructure projects at the Free Zone, Alleem also said that the Free Zones in Sharjah are characterized by the atmosphere of a secure investment and infrastructure and modern management away from the bureaucracy. The free movement of capital and full exemption from taxes on products and customs duties on materials imported for these areas also provide great opportunities for industries and businesses and service to success and sustainability, he added.
He shed light on the five key projects of infrastructure and major development projects that were completed this year and those that are still currently under implementation at a cost of about one billion dirhams, including AED 800 million cost of completed projects and 200 million dirhams for the projects under implementation.
He stressed that the Hamriyah Free Zone Sharjah is committed to implementing the directives of H.H Dr Sheikh Sultan bin Mohammed Al Qasimi, UAE Supreme Council member and ruler of Sharjah, and upholding the best and the latest technical and scientific achievement of this vital projects at all levels.
Hamriyah Free Zone Authority was established by an Emiri decree issued in November 12, 1995. It is located in Sharjah, United Arab Emirates, which gives the free zone a unique geographic and time zone advantage backed by a secure and fully convertible currency and a multi-access to neighboring and global countries through land, sea and air.
Hamriyah Free Zone is fast becoming one of the cornerstones of the United Arab Emirates industrial development. As the Next Generation Free Zone, Hamriyah Free Zone is ensuring that its management is flexible and dynamic besides being an investor oriented free zone.
Being quality conscious and ISO certified, Hamriyah Free Zone procedures for setting up a company are easy and well streamlined.