Hamriyah Free Zone inks investment deal with Medtra
February 27, 2021 / 1:56 PM
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Sharjah24: The Hamriyah Free Zone Authority (HFZA) has signed an investment agreement with Medtra, one of the world’s major companies in the production and manufacturing of healthcare equipment and products, to expand the latter’s operations in the MENA markets.
Under this agreement, Medtra, which operates in 40 countries worldwide, is set to invest about AED 100 million in HFZA through the construction of state-of-the-art manufacturing facilities in accordance with the latest technologies and innovations. Headquartered in Saudi Arabia since 2004, Medtra is serving the MENA’s health care sectors, food, agriculture, farming, poultry, hospitality, oil and gas as well as industrial sectors with more than 3000 high-quality products, while the company has been serving the UAE market since 2013.
The opening ceremony of the company’s new headquarters was held in the presence of HE Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority and Saj Sulaiman, Chairman of Medtra who toured Medtra’s new manufacturing facilities and was briefed on the latest innovations the company counts on in the production of healthcare products and supplies. Outstanding position Commenting on the new deal, HE Saud Salim Al Mazrouei said: “Our agreement with Medtra to start investing in HFZA is yet another testament to Sharjah’s outstanding position as a global business destination. Meanwhile, choosing Sharjah as a new headquarters for the company amid rising demand for healthcare and hygiene products due to the Covid-19 pandemic clearly reflects the robustness and reputation of the emirate’s business environment at the global level in these challenging times.”
Fantastic benefits and facilities
“In today’s fast-paced environment, we see a lot of global and multidisciplinary companies opt for Sharjah to kick-start their operations in the region. At HFZA, we support the companies by offering fantastic benefits and facilities that help them achieve their economic aspirations,” added Al Mazrouei. He stressed that the new agreement reflects the diversity of foreign investments in the country and the region, in line with the wise directives of HH Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the UAE Supreme Council and Ruler of Sharjah, to support the business sector, provide top-notch services for investors, and strengthen the economic performance of the emirate through the implementation of economic diversification plans and reinforcement of Sharjah’s status as a major industrial hub. Lucrative investment opportunities Saj Sulaiman, Chairman of Medtra, said: “As we understand and experience the vision of UAE and the comfort and opportunities they provide to investors and encouraging new innovations, we decided to move our production units specifically to Hamriya Free Zone due to the ease of operations as well as its 360-degree connectivity and being a key gateway to international trade.” In addition to offering industrial and commercial plots of land, HFZA, the second-largest industrial-free zone in the UAE, provides advanced infrastructure and modern facilities that strengthen external expansion plans for investors, especially with importing and re-exporting to the world’s markets. It also provides countless competitive advantages, most notably a single-window operation that boosts the efficiency of performance and eases procedures of doing business, along with multiple tax exemptions, repatriation of capital and profits, full foreign ownership of the business, and quick access to regional and global markets.
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