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Entrepreneurs show interest in doing business in UAE

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High-ranking UAE delegation hits town, attracting companies from Mysore to Hamriyah free zone

Mysore / Mysore: Mysore Chamber of Commerce and Industry (MCCI) in association with Federation of Indian Chambers of Commerce and Industry (ASSOCHAM) and Government of Sharjah, united arab emirates (UAE), organized a one-on-one meeting in the city this morning with senior officials from the UAE’s Hamria Free Zone – “Scaling Your Business Globally with the UAE”.

The meetings, held at Fortune JP Palace on Abba Road, will run until tomorrow, when industrialists, exporters and entrepreneurs from the Mysore region will gather information from representatives of the Sharjah government about setting up and expanding businesses in Sharjah and subsequently entering Information on foreign markets.

The Government of Sharjah delegation consisted of Ali Al Jarwan, Deputy Executive Director for Commercial Affairs, Muhamed Basheer, Head of Overseas Outreach, Geomon George, Head of Business Development, Irfan Alam, Deputy Director, and senior officials from the Hamriyah Free Zone. More than 50 industrialists, exporters and entrepreneurs from the Mysore region attended the meeting.

The main agenda of the meeting is to publicize how Mysore companies can expand their business to foreign markets by establishing branches and subsidiaries based in the UAE, thereby entering and occupying other Gulf countries, Africa, Europe and other markets.

Established in 1995 under the Emiri Decree, Hamriyah Free Zone Authority provides investors with economically viable company registration services including modern infrastructure, logistics, investor connectivity and key operational support.

The delegation showcased facilities and services to position Sharjah as an attractive investment destination. The team also provides potential investors with insights into the current trends and dynamics of the global industry.

Irfan Alam told local industrialists that the UAE has always been an attractive destination for entrepreneurs from around the world due to its developed and diversified economy, good infrastructure and transport network, and unique low tax regime.

“Also, we provide free trade zones, like the special economic zones in India and the UAE, they are economic zones where goods and services can be traded. Free trade zones have 0% taxation, 100% ownership, preferential tariff rates and 100% duty-free import and export,” he added.

He assured Mysore-based industrialists that they will provide leasehold land in the UAE to start their businesses with facilities such as infrastructure, supply chain, subsidies, marketing, port and airport exports, and maximum connectivity globally and within the UAE. “Already 30 to 35 percent of Indians are doing business in the UAE and working in various fields,” said Irfan Alam.

Businesses setting up shop in the Hamriyah Free Zone can obtain a trading permit within 24 hours and the office space costs less than Rs. 300,000 per year, including company registration fee and business license fee.

MCCI Chairman KB Lingaraju, Hon. Secretary AK Shivaji Rao, Vice President R. Anand, Hon. Treasurer SJ Ashok, Hon. Joint Secretary Vinod Jain and others attended.



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