UAE’s SAIF Zone woos Lankan biz to set up operations to go global competitively

Wednesday, 9 February 2022 00:00 - - {{hitsCtrl.values.hits}}

From left: Eagle Eye International Founder and Chairperson Mallika Samaraweera, Shajah Airport International Free Zone Director Saud Salim Al Mazrouei, Nawaloka Group Chairman Upali Dharmadasa and FCCISL President Shirley Jayawardena –

Pic by Lasantha Kumara

By Sandesh Jayasinghe

The Sharjah Airport International Free zone (SAIF zone) yesterday invited Sri Lankan businesses to set up operations and grow their global reach competitively.

SAIF Zone made the pitch to woo Sri Lankan business at “International Business Forum Sri Lanka” organised by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) in partnership with Eagle Eye International.

SAIF Director General Saud Salim Al Mazrouei described Sharjah as the third largest emirate in the United Arab Emirates (UAE) and the most diverse economy in the region. The SAIF zone was established in 1995 and is currently one of the fastest growing free zones in the Middle East.

He said the SAIF zone has attracted upwards of 8,000 companies from 160 countries covering a variety of industries with facilities to accommodate a multitude of service sector and manufacturing sector industries.

To give a Sri Lankan perspective, Nawaloka Group of Companies Managing Director Upali Dharmadasa as the Guest of Honour at the forum shared glowing remarks regarding the SAIF zone noting that his company has been working with it for 21 years. He said the free trade zone was a valuable asset which helped him in his illustrious career. He assured prospective investors that it was a safe option for growth and expansion, going so far as to say it is a ‘one-stop-shop’. Free zones are geographically demarcated areas permitting 100% foreign ownership. They facilitate smooth operations with total ownership and tax and duty exemptions with world-class business facilities. The delegation presented the packages available for Sri Lankan firms to take advantage of. Of the notable features, there was an emphasis on an efficient and transparent administrative process including registration and visa applications.

SAIF presented itself as a hands-on body that ensures the success of businesses with the availability of readymade facilities to the 24/7 ground support that is provided. They presented a variety of options for firms to take in establishing a business in the free trade zone and the speed that it can be accomplished in.