Meet on expanding business to Sharjah, UAE held in city

Mysore/Mysuru: Ali Sayeed Ali Jarwan, Deputy Executive Director (Commercial Affairs), Hamriyah Free Zone Authority, Government of Sharjah, UAE, said that Hamriyah Free Zone Authority has created a conducive atmosphere for investment opportunities for traders or businessmen with wide land, sea and air connectivity.

He was speaking during a two-day interaction on ‘Expanding Your Business Globally Through UAE, Hamriyah Free Zone Authority, Sharjah, UAE’ organised by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) in association with Mysore Chamber of Commerce and Industry (MCCI) at a private hotel in the city on Thursday.

Jarwan said “Over 6,500 companies have already set up their base in Sharjah and most of the companies have their roots in India, which is a matter of pride. Sharjah has a cordial relationship with India and we offer huge business opportunities with tax exemption benefit. The transaction of business is guaranteed within a few hours after obtaining licence from Hamriyah Free Zone Authority, with an assurance of cooperation to expand business to other countries too.”

Geomon George, Head-Business Development, Hamriyah Free Zone Authority said that Indian companies are attracted to Hamriyah Free Zone Authority to set up their business units. It can be also used for re-export to Africa and Europe. “Any company can open its office in the Authority paying less than Rs. 3.5 lakh Indian currency, with basic amenities like electricity and water provided and agreement for 25 years,” he noted.

Unlike India, the tax charged is less in Sharjah, with the opportunities to run a tax-free business. With the storage facility, connected by a better road transport system, airport and sea route nearby, business can be carried out connecting to various other countries, he said and added that business can be expanded on the ‘plug-and-play’ model, with ample opportunities to establish a free zone and free zone company.

Over 100 industrialists from Mysuru region took part in the interactive meet. MCCI President K.B. Lingaraju, Legal Advisor to Hamriyah Free Zone Authority Rohit Kumar, Deputy Director of ASSOCHAM Irfan Alam, B.R. Bharati and others were present at the meet.