SHARJAH, UAE – India is among the UAE’s most significant investment partners, with substantial mutual investments. Iron and steel rank among the top commodities exported from the UAE to India, the director of Hamriyah Free Zone Authority (HFZA) said.
HFZA director made the remarks after the team successfully participated in the International Exhibition and Conference (India Steel 2023), one of the largest and most important steel industry events in the world.
HFZA showcased its facilities and services, positioning Sharjah as an attractive investment destination, during the three-day gathering from April 19-21 at the Mumbai Exhibition Center in India.
The event brought together industry leaders, experts and stakeholders from around the globe, as well as major commercial and manufacturing companies.
The HFZA team engaged with major companies and brands operating in the global steel sector, as well as exhibition visitors interested in establishing their businesses in the free zone.
In addition to highlighting Sharjah’s strategic location and the ease of setting up a business at HFZA, the team provided insights into the current trends and dynamics of the global steel industry for prospective investors.
The free zone also showcased several benefits of setting up a business in its industrial manufacturing park, which houses the largest number of steel manufacturers in the MENA region and offers competitive advantages and services that attract investors from both within and outside the country.
The park boasts over 180 companies operating in welding and mining, using HFZA as a gateway to the global market.
Saud Salim Al Mazrouei, Director of HFZA, said, “The biennial India Steel Show 2023 serves as an exceptional platform to engage with industry leaders, acquire insights on future growth potential, and discover collaboration opportunities in the rapidly evolving Indian market.”
He said, “This comes in line with the Comprehensive Economic Partnership Agreement between the UAE and India, which the two nations recently signed.”
He added, “HFZA team introduced our platform’s visitors to a wide range of solutions that were designed to help industry stakeholders reach new markets and expand their businesses.”
The HFZA director said, “The logistical capabilities, state-of-the-art infrastructure, and support services not only attract investments but also catapult investors’ businesses to the next level.”