Sharjah Ruler reorganises SRTIP

The Decree stipulates that the SRTIP shall have legal personality and full capacity to perform the necessary legal actions to achieve its objectives and exercise its functions. It shall have financial and administrative independence. It shall be owned by the Emirate’s government. Its location and geographical borders shall be determined by a decision of the Sharjah Ruler.

The name of the park in English shall be adopted as follows: Sharjah Research, Technology and Innovation Park “Free Zone.” It is shortened as "SRTIP."

According to the Decree, the SRTIP aims to achieve the following:

1. Provide an environment conducive to creativity and innovation by creating an attractive and sustainable park with infrastructure and services.
2. Support, encourage and develop the innovation system to raise the Emirate's position as a global destination in the fields of research and technology.
3. Support applied scientific and technological research to carry out investment activities to support the Emirate's directives towards a knowledge economy.
4. Develop and embrace talents and manpower working in areas related to the Emirate's economic and social priorities, and enhance the Emirate's competitiveness by attracting and encouraging institutions and companies specialised in the field of innovation.
5. Work on developing national scientific competencies and attract highly capable competencies to work in the park in developing modern technology to serve the Emirate.
6. Provide the appropriate environment to encourage technological and technical investment by providing logistic services of high quality and reasonable costs.
7. Support and develop technological and research content by activating national innovation and encouraging innovators and supporting them in establishing their own companies.
8. Support and promote innovation and encourage research ideas that can be transformed into tangible products that will be used to provide high-quality scientific analyses, research and insights, and market them.
9. Cooperate with the competent authorities to define national priorities and policies in the field of science and technology in order to build a scientific and technical base to serve development in the vital areas of the Emirate.
10. Lay down stimulating and encouraging regulations for business establishments and facilities for conducting their business.
11. Develop legislation that contributes to the involvement of the teaching staff and students in launching their own projects.

The Decree also stipulates that, taking into account relevant federal and local legislation, the SRTIP shall, in order to achieve its objectives, have the following competencies:

1. Construct the infrastructure and related equipment for the park and provide administrative support services and any other services necessary to achieve its objectives.
2. Establish joint or individual companies, institutions, and projects within the park in accordance with the free zones system and the provisions of this Decree.
3. Determine and organise the businesses and activities that are licensed to be practiced within the park, and prepare the rules, conditions, requirements and procedures for licensing such businesses and activities.
4. Register and license establishments or companies and collecting fees and charges imposed on such and other services provided by the park.
5. Sign lease contracts for lands and buildings for companies and institutions that wish to work in the park to enable them to carry out their activities in accordance with the conditions agreed upon.
6. Invest in start-up companies registered in the park.
7. Organise the work method between the companies and institutions of the park and any external parties in cooperation and coordination with the competent government entities.
8. Participate in events related to innovation inside and outside the country.
9. Purchase, rent and own movable and immovable assets necessary for the exercise of its duties, and invest in all its fields as permitted by the legislation and regulations in force.
10. Sign agreements with other free zones to enable the companies and institutions of the park to conduct business in those zones or vice versa.
11. Cooperate and coordinate with local, federal, regional and international bodies, including other free zones, in the field of innovation.
12. Consider and decide on complaints submitted by companies and institutions operating in the park.
13. Carry out any other work related to the field of work of the park and leading to the achievement of its objectives.
14. Any other functions entrusted to him by the Sharjah Ruler.

According to the Decree, the park is managed by a board of directors representing the supreme authority in it, and it is composed of a president and membership of a number of members who are named by an Emiri decree, provided that the board includes in its composition the chancellor of the University of Sharjah, the executive director of the Sharjah Research, Technology and Innovation Park and the chancellor of the American University of Sharjah.

The term of membership in the board shall be four years, starting from the date of its formation, and it may be extended for a similar period or periods, provided that the board shall continue to conduct its business at the end of its term until a new board is formed, and those whose membership term has expired may be re-appointed.

The board undertakes the conduct of the park’s business, the management of its affairs, and the achievement of its objectives. In particular, it has the right to exercise the following functions:

1. Approve the general policy of the park, its programmes and projects, and supervise their implementation.
2. Issue regulations and instructions for the park to ensure the achievement of its objectives.
3. Approve the draft budget and final account of the park.
4. Select the CEO and approve the appointment of senior executive positions in the park.
5. Approve contracts with expert houses and auditors based on the proposal of the Executive Director to carry out tasks of an investment nature for the park.
6. Approve agreements, memorandums of understanding and partnerships concluded by the park.
7. Approve draft organisational structure of the park.
8. Any other functions assigned by the Sharjah Ruler.

The Decree stipulates that the park shall have an executive director who shall be appointed by an Emiri decree and shall be responsible before the board in the performance of their duties, assisted by a sufficient number of employees and experts in accordance with its organisational structure. They shall have the powers and authorities necessary to manage the affairs of the park and take the necessary decisions to achieve its objectives. In particular, they shall have the following:

1. Propose the general policy and strategic plans necessary to achieve the objectives of the park and present them to the board for approval or take the necessary action in this regard.
2. Propose draft legislation and decisions related to the work of the park and present them to the board to decide what it deems appropriate in this regard.
3. Supervise the progress of work in the park in accordance with the legislation and regulations in force, issuing administrative decisions and following up their implementation.
4. Present the annual budget and the final account of the park to the board to take the necessary action in this regard, and supervise the mechanism of disbursement from the budget of the park.
5. Represent the park before the judiciary and in its relations with others, and he may authorise any person or any other entity to represent the park before the courts.
6. Sign contracts, agreements, memorandums of understanding and partnerships concluded by the park after the approval of the board.
7. Contract with expert houses and auditors to carry out tasks of an investment nature for the park.
8. Delegate some powers or competencies to senior employees in the park in accordance with the legislation in force in the Emirate.
9. Any other tasks assigned by the board.

The Decree also included a number of legal articles related to financial resources, the power of inspection, exemption from laws, fees, fines, transitional provisions and other regulatory materials.