Sharjah24: The Hamriyah Free Zone Authority (HFZA) received a high-level delegation from the Indian state Telangana led by Bhasker Reddy, President of the Federation of Telangana Chambers of Commerce and Industry (FTCCI).
The visiting delegation was received by HE Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority, in the presence of representatives of companies specialising in the iron and steel, mining and foodstuff.
The meeting discussed enhancing mutual cooperation and taking advantage of the benefits provided by the Emirate of Sharjah and HFZA to the companies wishing to invest in a stable environment equipped with integrated services and strong infrastructure for the prosperity of their businesses.
The meeting also reviewed HFZA's successful experience in attracting direct foreign investments, particularly the Indian investments which are headquartered in the Authority.
The Indian delegation was briefed on the services provided by the free zone from the ease of issuing various licenses to the distinctive administrative, technical and logistical services, down to the smart platforms and digital services that make HFZA one of the world's most flexible free zones.
They were also briefed on the competitive advantages and growth opportunities offered by the Emirate of Sharjah to investors, thanks to its strategic location connecting East and West and its interconnected land, sea and air transportation network.
Deep-rooted relations
While welcoming the visiting delegation, Saud Salim Al Mazrouei highlighted the strength of the UAE-India economic ties, which is reflected in the increased growth of investments.
India is the second-largest trading partner of the UAE, accounting for 9% of the UAE's total trade volume with the world. During the first half of this year, the value of bilateral trade amounted to $21 billion, an increase of 70% compared to the same period last year.
Al Mazrouei pointed out that the Hamriyah Free Zone has managed to attract a lot of Indian investors due to its advantages and facilities, which have had a paramount role in strengthening the Authority's position on the global investment map and attracting capital from various countries of the world.
Economic diversity
Hamriyah Free Zone sets its sights on attracting further Indian investments by offering more facilities that help businesses expand in the Middle East and GCC in various sectors, particularly the foodstuff and manufacturing sector, he noted.
Al Mazrouei reviewed the economic diversification policy adopted by the Government of Sharjah, which aims to take the emirate to new heights of industrial and commercial development by developing long-term strategies that enhance competitiveness and sustainability.
The Indian delegation members ended their visit with a tour of the Authority's facilities, lauding the strong infrastructure that makes it an ideal base for foreign companies wishing to set up their businesses in an economic and dynamic environment.
They also affirmed the willingness of the Federation of Telangana Chambers of Commerce and Industry to work together with HFZA to develop relations, especially in the sectors that Sharjah and the Telangana focus on at present.
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