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‘Free zone doing well’
Staff Reporter
KOCHI: The free zone concept was working well in Sharjah, said Rashid Al Leem, Director General of Hamriyah Free Zone Authority, Sharjah.
He was addressing a meeting organised by the Kerala Chamber of Commerce and Industry here on Wednesday. The total investment in Hamriyah Free Zone is to the tune of $1.3 billion.
More than 2,000 companies belonging to over 100 companies are functioning there.
He said about 30 per cent of the representation in the zone was from India.
Mr. Al Leem said the zone would be a good base for business enterprises in the global market.
Land was available at the zone for lease for periods ranging from 5 to 20 years.
The lease period could be renewed.
Single window clearance within 24 hours could be arranged.
A deep water port, 100 per cent ownership and full repatriation were among the benefits available to the entrepreneurs, he said.
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