The three accolades include the Free Zone of the Year (4th position globally), Highly Commended Free Zone of the Year (Middle East) and Excellence Award for Key Performance Indicator (Global Winner). The virtual award ceremony was attended by several representatives of free zones from around the world.
The awards, which are the most prestigious credit a free zone can receive, attest to HFZA's exceptional performance as well as the efforts it made to support and enable the success of its business community.
The 9th edition of the Global Free Zone of the Year 2022 was judged by both the Financial Times Specialist editorial team and a panel of independent judges for each region.
More than 67 free zones from around the world took part in this year’s edition, most of which were from the Middle East. The new milestone proves the effectiveness of HFZA’s ongoing efforts to develop a business environment capable of perfectly meeting the growing demands of its customers.
The award evaluated the key performance of the free zones over the past 12 months, especially with regard to the growth in the number of investors and small and medium-sized companies as well as the increase in rented spaces within these zones, in addition to strategy criteria, performance indicators, infrastructure development, and promotion of projects that take into account the environment, sustainability, and governance.
The panel of judges, consisting of subject-matter experts and specialists, was briefed on the major initiatives launched and implemented by the free zones participating in the award.
The new achievement, once again, reaffirms the excellence of HFZA’s services and the effectiveness of its initiatives. It will further enhance the free zone’s reputation as a leading destination for doing business thanks to its world-class services.
With a cutting-edge technological infrastructure, remarkable regulations, and unrivaled benefits and incentives, HFZA has emerged as one of the most prestigious and vibrant free zones in the Middle East.
His Excelency Saud Salim Al Mazrouei, Director of HFZA, stressed that the new milestone would not have been possible had it not been for the wise vision and directives of H.H. Dr. Sheikh Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah.
"His Highness has always been keen to develop the emirate’s free zones in order for them to keep pace with Sharjah's journey towards comprehensive and sustainable economic development," Al Mazrouei said.
"Being recognized by a major international organization with expertise in business, finance, and free zones shows the high degree of worldwide recognition that HFZA has attained over the years. While concentrating on innovation and excellence in our service, we will continue to be dedicated to providing our investors with the finest possible service "he added.
"Despite the many global challenges, we have managed to stand out, draw in additional investors, enhance our services, and build an integrated infrastructure. We will stop at nothing to make Sharjah and its free zones the world's best destination and the most distinguished business center in the world. This accolade will only motivate us to work harder to deliver the greatest services possible," Al Mazrouei underscored.
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 in 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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