UAE’s leading economic zone Hamriyah Free Zone Authority (HFZA) in Sharjah has attracted nine international companies from the US, African countries, India, and others parts of the world in the year 2021.

These investments, spread out over an area of 850,000 sq ft, have brought in a total investment value of about AED 271 million ($73.79 million) for the zone.

"Such figures clearly reflect the outstanding facilities, incentives, and advantages provided by HFZA to further strengthen its attraction to investors," the authority said.

According to the authority, the year 2021 was a very successful year for HFZA in Sharjah, where it has continued to consolidate its position as a favoured investment destination for various businesses, besides its role in supporting the economic growth in the Emirate of Sharjah.

"Since its establishment, Hamriyah Free Zone has played a significant role in strengthening the position of the Emirate of Sharjah as a destination for global investments and a business centre in the Middle East. This is attributed to the continued success of the Authority in attracting investors and international companies operating in various economic sectors," said Saud Salim Al Mazrouei, director of the Hamriyah Free Zone Authority.

Last January, HFZA has inked an investment deal with two giant African petrochemicals companies (Global Vision Specialty Chemicals & Proud Lubricants and Grease IND).

The first company is specialised in Blending, Packaging & Drumming of Drilling Upstream & Downstream Petrochemicals and Chemical Additives, while the activity of latter is the manufacturing of Lubricants, Grease, Plastic Products & Tins.