Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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The Hamriyah Free Zone Authority (HFZA) in Sharjah has clinched three prestigious international awards at the 11th edition of Global Free Zones of the Year awards 2024 by fDi Intelligence, recognising the most promising free zones across the world. The accolades showcase HFZA’s growing reputation as a top investment destination and business hub in the Middle East.
HFZA was ranked as the second-best free zone globally in 2024, earning the Global Free Zone of the Year Award. In addition, HFZA received high commendations in two key categories: Highly Commended Industrial Free Zone—Middle East and Highly Commended Industrial Free Zone—Globally.
These recognitions highlight HFZA’s continued success in attracting major international investors and companies across various sectors, solidifying its position as a leading business hub in the Middle East and beyond.
These prestigious awards also reaffirm HFZ’s commitment to fostering a competitive investment environment, enhancing its regional and international standing, and driving economic growth. The free zone is home to around 7,000 local and international companies, further cementing its status as a leading industrial hub.
The 11th edition of Global Free Zones of the Year awards 2024 saw participation from over 65 free zones worldwide. Key evaluation criteria included logistics service quality, industrial sector support, growth in leased space, digital infrastructure, and an increasing number of investors and companies. The awards also took into account strategy, innovation, governance, and overall performance indicators.
Proven track record
His Excellency Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority, said: “”We are deeply proud to receive these three prestigious international awards from fDi Intelligence, which reflect HFZA’s commitment to excellence and innovation.
These accolades are a testament to our strenous efforts to build on our successes and remain at the forefront of global business hubs. Our achievements are guided by the wise vision and forward-thinking leadership of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah.
His Highness’s continuous support and directives to develop free zones play a fundamental role in promoting Sharjah’s sustainable economic growth and strengthening the UAE’s global competitiveness, in line with the UAE Centennial 2071 goals.”
Global hub
Al Mazrouei added: “The awards won by the Free Zone mirrors the growing global recognition of Sharjah and its free zones as key players in the industrial world and leading destinations for specialised heavy industries. As one of the largest industrial free zones in the country, Hamriyah Free Zone is home to more than 180 companies operating in this sector.
We offer a wide range of industrial lands equipped with modern facilities, alongside services and benefits that meet international standards, creating an attractive investment environment.
We will spare no effort to meet investors’ expectations with high efficiency, diversify the economy, and attract high-quality investments in line with Sharjah’s strategic visions and future industrial plans. At Hamriyah Free Zone Authority, we’re committed to keeping up with innovation and excellence, constantly improving our services to match the best international practices.” Al Mazrouei stated.
Hamriyah Free Zone is one of the largest free zones in the UAE, offering both industrial and commercial lands. It features a modern, advanced infrastructure that supports the international expansion plans of its investors, particularly in importing and re-exporting to global markets.
HFZA offers a wide range of competitive advantages, including a one-stop-shop for operations that streamlines efficiency and facilitates business activities, multiple tax exemptions, free repatriation of capital and profits, 100% foreign ownership of businesses, and quick access to regional and international markets.
