Miners among diverse groups drawn to Sharjah hub
- 28 November 2024
The Sharjah Airport International Free Zone (SAIF) continues to flourish as an integral part of the United Arab Emirates economy and is positioned to offer “a distinctive value proposition for investors in mining and metal technology”, according to SAIF Authority director, HE Saud Salim Al Mazrouei.
The major industrial centre established in 1995 has become a hub for more than 8000 companies from more than 160 countries, including some of the world’s largest corporations.
“With its strategic location, cutting-edge infrastructure, attractive incentives and comprehensive logistical support, the zone remains steadfast in ensuring a conducive environment that enables companies to thrive and grow across regional markets,” Al Mazrouei says.
“SAIF Zone has positioned itself as a key regional hub for mining and metal-related investments.
“I’d point here to the zone’s Gold, Diamond and Commodities Park, which offers tailored services and an ideal business environment for industry players.
“For mining and metals companies, the Gold, Diamond and Commodities Park offers advanced facilities, essential logistics services, a streamlined licensing system, state-of-the-art infrastructure, round-the-clock security and proximity to major diamond and gold production centres globally.
Global coloured gemstone producer Fura Gems established a new facility at the park in 2022 and has its corporate headquarters in Dubai, which it says is located at a “strategic geographic crossroads, connecting East and West, North and South [and] providing a convenient access to gemstones cutting polishing centres in Southeast Asia and to Fura’s gemstones mines and end consumers in various parts of the world.”
Al Mazrouei says Sharjah's reputation among global investors is a major draw for mining and metals companies but also a diverse range of firms across many industry sectors.
“In 2023, SAIF Zone welcomed significant investments [from] businesses from India, the UK, Spain, Belgium and other nations establishing operations across 1.5 million square feet of land and warehouses,” he says.
This year has seen new arrivals such as Heesung PMTech Middle East, a Korean company specialising in recycling platinum group metals (PGMs), EMX, the logistics arm of 7X, and Vittorio International Fragrance Company from Azerbaijan.
The investments reflect the growing confidence of international companies in the favourable investment environment provided by the SAIF Zone, underpinned by its advanced infrastructure, cutting-edge facilities and strategic location, Al Mazrouei says.
“The Sharjah Airport International Free Zone is characterised by the variety of investments it attracts, which helps in keeping the engine of economic diversification rolling and strengthening Sharjah's position within the global economic system,” he says.
“By focusing on attracting quality investments across strategic and developmental sectors of the new economy, leveraging its advanced industrial, commercial and logistics infrastructure, strategic location and comprehensive business solutions, the Zone has solidified its position as a premier and favoured global investment destination for various types of businesses.
“The UAE’s economy continues its upward growth trajectory, fuelled by strong momentum over the last two years.
“The UAE boasts numerous strengths conducive to further growth and prosperity, particularly its strategic geographic location, state-of-the-art infrastructure, and pro-business policies, which appeal to investors and companies seeking stability and growth opportunities.
“As an integral part of the UAE’s economic framework the Sharjah Airport International Free Zone holds promising prospects, with expectations of continued investment inflow and a positive impact on the economic development of both the emirate and the country.”
