Al Mazrouei addressing in Mumbai, India
SAIF Zone roadshow stirs Indian investors’ interest
SHARJAH, September 22, 2015
A delegation from Sharjah Airport International Free Zone Authority (SAIF Zone) highlighted Sharjah as an appealing investment destination in eight Indian cities through 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), said a statement.
In Mumbai, Ahmedabad, Baroda and Surat, the team took part in an international business forum titled 'Taking Business Globally,' it said.
Saudi Salim Al Mazrouei, director of SAIF Zone, said: “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.
“Nearly 50 per cent of our investors in SAIF Zone are from India.”
“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% of the utility costs, including any water and electricity consumed in the free zones,” he said.
“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 $7,070 per year,” he said.
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, said the statement.
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," it said. - TradeArabia News Service
