Sharjah: As many as nine international companies from the US, India, African countries and other parts of the world set up base at the Hamriyah Free Zone Authority (HFZA) in Sharjah last year.
These investments, spread out over an area of 850,000 sq. ft. ranging from warehouses and plots of land, have a total investment value of about Dh271 million.
“Such figures clearly reflect the outstanding facilities, incentives, and advantages provided by HFZA to further strengthen its attraction to investors,” the authority said Sunday.
“Since its establishment, Hamriyah Free Zone has played a significant role in strengthening the position of the emirate of Sharjah as a destination for global investments and a business centre in the Middle East. This is attributed to the continued success of the authority in attracting investors and international companies operating in various economic sectors,” said Saud Salim Al Mazrouei, director, HFZA. “The previous year’s figures demonstrate HFZA’s solid presence its pivotal role as a gateway to the markets of various countries, regions in the world.”
Al Mazrouei pointed out that HFZA has a specific strategy with two key pillars in order to attract foreign investments to the emirate. The first pillar is attracting quality investments that support the national strategies of Sharjah, especially with regard to economic diversification, noting that the companies operating in the authority are covering various businesses and industries, such as trade and petrochemical industries, and the manufacture of medical and health equipment and products.
The second pillar is launching marketing and promotional campaigns at the home countries of the investing companies to identify the nature of their work, their needs, and their willingness to enter and enhance their presence in regional markets, through direct visits, organising seminars, participating in official delegations as well as various exhibitions and events.