Emirates News Agency – SAIF area ends 2021 with significant achievements securing its position as a major investment hub in the region
SHARJAH, 30th January, 2022 (WAM) — The Sharjah Airport International Free Zone Authority (SAIF Zone) has achieved a series of considerable successes in 2021, cementing its position as a major hub for trade, industry and logistics services in the region. . The guidance and vision of His Highness Sheikh Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, the main catalyst for the Authority to achieve such important milestones.
The total area of leased and invested land in the free zone was 263,000 square feet, ranging from land to warehouses for global companies from India, Britain, Spain, Belgium and others.
The Authority’s promotional campaigns in the Middle East, America, Europe, Asia and Africa have been instrumental in establishing strategic partnerships with major investors who, in turn, have expressed interest in settle in Sharjah and take advantage of the promising opportunities offered by the emirate.
Over the past year, SAIF Zone has boosted and enriched its digital services with 36 new features, bringing its total of electronic services to 284 services. In the projects section, the authority has launched the beneficial ownership registration and compliance service, while the building permit application and new business establishment service has been added to the rental and licensing. These services are part of a complete and integrated system to manage the experience of customers in the SAIF area with great speed and efficiency.
This is part of the Authority’s painstaking efforts to attract foreign direct investment to Sharjah to maintain its position as one of the most innovative free zones in the Middle East, through a host of diverse and integrated digital services to enhance ease of doing business. .
“Last year’s figures and achievements clearly reflect the strength of the national economy of the Emirate of Sharjah, thanks to the visions and guidance of His Highness Dr. Sheikh Sultan and his ability to adapt to changes in global economy and create new and promising investment opportunities,” said Saud Salim Al Mazrouei, Director of the Sharjah Airport International Free Zone Authority.
Al Mazrouei explained that the Authority has translated these visions by granting exclusive privileges and advantages to companies and investors wishing to settle in the SAIF zone.
He pointed out that the industrial, commercial and logistical infrastructure provided by the Authority, as well as its integrated business solutions, have consolidated its position as a perfect and global destination for businesses, in a way that supports economic diversification plans and the sustainable growth of the emirate.
Al Mazrouei added: “Over the past year, we have strengthened our digital system by adding new features and services, which has enhanced investor confidence in the Authority and improved the ease of doing business. . This is in line with the aspirations of wise leadership. of Sharjah and government guidelines to adopt best practices and build an advanced digital system, in which the Authority works around the clock to serve investors and provides integrated and seamless services to save time and effort for clients.
Advanced Armor Engineering (AAE), a British-owned and operated steel manufacturing company, has leased additional land in the area with an investment of more than 20 million UAE dirhams ($5 million) in as part of its expansion plans.
The British firm has rented an additional 19,500 square feet of land, bringing its total area to 67,500 square feet, in order to increase its production capacity.
Concord Enviro FZE, an Indian company operating in the treatment and recycling of industrial wastewater and the desalination of seawater, has leased additional plots of land of 130,000 square feet to set up new facilities to cope growing demand from local and regional markets for the latest industrial technologies. wastewater recycling products manufactured by the company in multiple sectors including pharmaceutical industries, textiles, distilling industries, tanneries, steel industries, yeast, paints, dyes, cement, food and beverages, paper, electrical and other industries.
Also in the same year, Sharjah Airport International Free Zone (SAIF Zone) signed an investment agreement with TORRECID, under which the Spanish group will lease three state-of-the-art warehouses covering an area of 20,000 square feet. , making it the first head office of the group not only in the United Arab Emirates but also in the GCC countries.
I The Indian Forpack Industries, a leading manufacturer of recycled kraft paperboard and paperboard, has leased four warehouses in U2 area of SAIF zone with a total area of 25,833 square feet, making it the first head office of the company in the UAE.
The initial capital of the company is estimated at AED 10 million, while the business plan will include the production of total packaging solutions, the production and marketing of industrial pallet stretch films and LLDPE stretch films, as well as the manufacture of cardboard boxes and tissue paper products.
Bano Puratos, the leading Belgian-Lebanese manufacturer and supplier of innovative products of raw materials, utensils and machinery used in the chocolate, bakery, pastry and ice cream industry, has announced plans to expansion to double its monthly production capacity from 300 to 600 tons and increase the product list from 45 to 150, in 2022.
Bano’s production capacity will also triple in 2023 to 900 tonnes, further proof of Sharjah’s position as one of the best investment centers in the world. Early last year, Pano Puratos established the largest production facility in the region at the Sharjah Airport International Free Zone (SAIF Zone) with investments estimated at AED 20 million.
This reflects the quality of the facilities provided by the Authority and its position as an ideal environment for companies wishing to develop in regional markets, as well as its advanced logistics infrastructure and services, in addition to its strategic location and proximity. with airports and international markets. .
In addition to investment deals, SAIF Zone participated in The Big 5, the largest and most influential building and construction trade fair in the Middle East, Africa and South Asia.
The Authority took advantage of this major event to highlight its various services to investors, which made it one of the most important free zones in the region. This includes offering exclusive advantages in order to attract foreign investment and provide the added value sought by investors.
The Sharjah Airport International Free Zone offers many competitive advantages to investors, especially in the commercial, industrial and service sectors.
This includes customs clearance, sophisticated infrastructure, state-of-the-art facilities with air-conditioned and furnished executive suites, pre-built warehouses of various sizes with adjacent offices and land to lease for unrestricted private development.
Other incentives include 100% foreign ownership of businesses, 100% repatriation of capital and profits, and 100% corporate or personal income tax exemptions, 100% tax exemptions on import and export. This is in addition to 24-hour services, all licenses issued within the hour and a hotline that guarantees immediate availability of labour, equipment, shipping and customs clearance, 24/7 security and emergency services and labor accommodation in the area.