Sharjah Airport International Free (SAIF) Zone has called upon industrialists and traders from southern districts to make use of the facilities offered at the zone to take their business to the global level.
Its Deputy Commercial Director Raed A. Bukhatir said that out of the 7,600 companies functioning in the SAIF zone, 50 per cent were that of Indians. Industrial, commercial and service sectors are bound to grow faster.
He was here to take part in a seminar on “taking business globally” organised by Federation of Indian Export Organisation (FIEO) in which scores of representatives from industrial and commercial sectors took part. Mr. Bukhatir said that the free zone set up in 1995 was wholly owned by the Government. It offered 100 per cent foreign ownership, repatriation of funds with no currency restrictions. Besides, the members of the zone would be eligible for exemption for corporate and personal income taxes. FIEO joint deputy director K. Unnikrishnan said against the backdrop of an economic slowdown in the US and the Europe, Indian exporters could tap the export potential of the UAE. Its currency was more stable.
“At present UAE is the third biggest importer from India. Through the free zone, industrialists here can export their products globally with a minimum duty of 5 per cent,” said its sales manager Thomas Joseph.
