VISAKHAPATNAM: The Government of Sharjah is offering 100 per cent foreign ownership and repatriation of funds with no currency restrictions besides exemption from corporate/personal income taxes and tax exemption for all import and exports. The SAIF Zone is also providing on-site workers’ accommodations and visas for all staff and there is no restriction on hiring of 100 per cent expatriate workers and economical wage structure, Sharjah Airport Free Zone Authority (SAIF-Zone) commercial director Mohammed Salem Al Mahmoud has said.
Addressing an interactive session on ‘Trade and Investment Opportunities in Sharjah Airport Free Zone Authority’ organised by Confederation of Indian Industries (CII)-Vizag Zone here Tuesday, Mahmoud said that the SAIF Zone was offering a single window solution to all investors requirements.
It was also issuing requisite licenses and permits within 24 hours of submitting the required documents aside from providing facilities for manufacturing, assembling, packaging, import, re-export, trade and value-added activities, he added.
The SAIF-Zone, is a major industrial base for global business and is only one of the seven Emirates with Ports on the Arabian Gulf’s West coast and East cost, with direct access to the Indian Ocean, an international airport connecting 230 cities and well-developed infrastructure to serve Gulf, regional and international markets.
Delivering the welcome address, CII-Vizag zone past chairman and RHI Clasil Limited president RVS Raju stressed the need for a ‘Look West Policy’ on the lines of the successful ‘Look East Policy’. “As India-West Asia relationship is on the upward trajectory and India’s interests are expanding with time, it is time for our country to adopt a formally articulated ‘Look West Policy’ in line with the successful ‘Look East Policy’ for the East and South East Asia region.”