Sharjah International Airport Free Zone (SAIF Zone) has intensified its efforts to attract more investors from Indian IT sector.

Saud Al-Mazrouei, director of Sharjah International Airport Free Zone (SAIF Zone) and Hamriyah Free Zone Authority (HFZA), who led a delegation to India’s IT city Bangalore last week to attend the two-day India Innovation Summit, told Arab News that they received an overwhelming response from investors.

“Karnataka Chief Minister K. Siddaramaiah and other senior officials visited the zone’s pavilion during the two-day India Innovation Summit that concluded in Bangalore on Saturday,” he added.

The event, organized by the Confederation of Indian Industry (CII), attracted over 550 CEOs, CXOs, R&D heads, IT heads, heads of innovation, innovation consultants, international delegates, academia and trade officials. SAIF Zone was the international partner for the event.

“SAIF Zone conducted two meetings with the Federation of Karnataka Chambers of Commerce and Industry and Confederation of Indian Industry during the summit. The response was very good and we hope that some Indian companies will move to our zone. We have strategic plans for the Indian IT sector as we are going to focus more on it,” stated Al-Mazrouei.

Currently, the zone has nearly 6,500 companies. Many well-known Indian firms, including Godrej and Wipro, already have their presence in the zone.

“India is set to introduce mobile governance, making all the major services available to users on their fingertips and many companies are interested in the SAIF Zone as it has excellent sea, land and air transport links with access to over two billion consumers across the GCC, the CIS, the subcontinent, parts of Africa, the Mediterranean region and Europe,” he said.

Renewing the zone’s commitment to further developing the IT sector, Al-Mazrouei said: “We will make the SAIF Zone the most preferred destination for global investment. We have a business savvy setup with state-of-the-art facilities, including pre-built warehouses in a choice of sizes, land on lease for unrestricted development and a host of other features.”

At SAIF Zone, an investor can set up a company within 24 hours. The company allows 100 percent foreign ownership and repatriation of funds, exemption from corporate and personal income taxes, and tax exemption for all imports and exports. There is also no restriction on hiring of 100 percent expatriate workers.

Mohammed Salem Al-Mahmoud, commercial director of the SAIF Zone, Ali Mohammed Al-Mutawa, sales officer, were the other senior members of the delegation.