Sharjah24: Hamriyah Free Zone Authority (HFZA) has reiterated its commitment to providing all the necessary means to boost the confidence of over 1,400 Indian companies operating at HFZA in various industrial and commercial sectors.
The Authority added: “We spare no effort to provide all the facilities, the administrative, technical, and logistical services that ensure ease of doing business in Sharjah. This is in keeping with the UAE-India strenuous efforts to strengthen the solid economic, trade, and investment ties between the two friendly countries.”
This was stated during a speech delivered by HE Saud Salem Al Mazrouei, Director of the Hamriyah Free Zone Authority, during the Tamil Entrepreneurs Forum, organized by the Tamil Entrepreneurs & Professionals Associates. U.A.E, at Holiday Inn Hotel, Dubai.
The forum aims to encourage and facilitate business development for the Tamil language speaking community.
Well-established relations
In his speech, Al Mazrouei said that the UAE and India have enjoyed a strong trade relationship for many years, and as these relations continue to grow, the trade markets grow and diversify.
"On February 18, India and the UAE inked a Comprehensive Economic Partnership Agreement (CEPA) that is being billed as a historic one in many ways. This agreement will usher in a new era in our bilateral economic relations and it is estimated that the bilateral trade volume will increase from $60 billion to $100 billion in 5 years," added Al Mazrouei.
He pointed out that HFZA provides all means of support, as well as the highest standards of excellence and innovation to the Indian business community and Indian companies seeking to take advantage of the promising opportunities available in the Emirate of Sharjah.
Al Mazrouei added that Indian companies at HFZA take advantage of the so many benefit on offer. This includes the strategic location connecting the East and West, sophisticated infrastructure, unrivaled global connectivity, and proximity to the port, which facilitates the import and export operations and raises trade exchange.
He continued to say that HFZA also sets its sights on the companies wishing to expand and grow, through the availability of industrial and commercial plots of land and free spaces for future expansions.
Stimulating trade
"Incorporating the principles and best practices of free trade, UAE free zones help stimulate trade and investment, and facilitate the transfer of skills, knowledge and technology. UAE free zones offer 100% foreign ownership, with no requirements of local sponsors or service agents. Business owners can also enjoy 100% repatriation of revenues and profits, and 100% transfer of funds. More importantly, there is a time-bound waiver of all corporate taxes as well as import and export taxes, and an exemption from all personal taxes," Al Mazrouei concluded.
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