Sharjah govt keen to rope in Indian cos in expanded SAIF zone

PTI

Sharjah government of the UAE is hopeful of getting very good response from Indian companies in setting up their offices at the expanded free trade zone, SAIF.

"Indian companies account for 45 percent of total companies registered at SAIF. The existing 5 million sq feet facility of SAIF is completely exhausted. We are expanding the free zone by another three million sq feet," SAIF Zone Director Saud-Al Mazrouei said here today at a joint roadshow by FIEO and SAIF zone.

He said 35 percent of the space in the expanded three million sq. feet is already booked.

SAIF officials said India is very important market and they are confident of good response from Indian companies.

Currently, 8,000 companies are operating in Sharjah Airport International Free Zone (SAIF) employing about 45,000 people.

Despite the slowdown in gulf region due to subdued oil prices, Mazrouei said there is no impact as lower oil prices has helped some sectors like manufacturing and trading to expand.

FIEO officials said, "UAE is an important export destination for India with about 11 percent export basket and SAIF plays an important role. FIEO themselves had office there to support exporters with warehousing and other supports but the same had been closed down since last one year."