UAE 'Free Zones' in Turin to attract Italian companies

(AGI) Turin, June 11 - The UAE "Free Zones" have arrived inTurin to stock up on Italian companies. A high-level delegationfrom Sharjah Airport International Free Zone (SAIF) andHamriyah Free Zone Authority (HFZA), business tax-free areas ofthe Emirate of Sharjah, are taking part in the ninth WorldChambers Congress that opened on Thursday in Lingotto. "TheEmirates are one of the most interesting countries for Italianexports in the Arab world and the Italian Industry & CommerceOffice, IICUAE, opened its doors in the state of Sharjah backin 1999," HFZA director Saud Al Mazrouei told AGI

(AGI) Turin, June 11 - The UAE "Free Zones" have arrived inTurin to stock up on Italian companies. A high-level delegationfrom Sharjah Airport International Free Zone (SAIF) andHamriyah Free Zone Authority (HFZA), business tax-free areas ofthe Emirate of Sharjah, are taking part in the ninth WorldChambers Congress that opened on Thursday in Lingotto. "TheEmirates are one of the most interesting countries for Italianexports in the Arab world and the Italian Industry & CommerceOffice, IICUAE, opened its doors in the state of Sharjah backin 1999," HFZA director Saud Al Mazrouei told AGI in Turinwhile receiving Mayor Piero Fassino and President of theChamber of Commerce Vincenzo Ilotte at its stand. HFZA, heexplained, is close to the port and currently hosts over 6200industrial activities, 56 of which are Italian, while the Saifzone, near the airport, is better for SMEs, hosting 6700companies of which 86 are Italian. "We hope that the growth ofinterest in the UAE will soon translate into an increase ofItalian companies investing in us, especially in the machineryand food and agriculture industries" he said. Sharjah is thethird largest state in the Emirates after Abu Dhabi and Dubai,and is the cultural and industrial capital of the UAE. "We have33 percent of the large industrial firms in the Emirates andalso many SMEs. Here a company can establish its business andhave it up and running in two hours, leaving the rest to us,"said Al Mazrouei. This turnkey service comes at a minimal costof around 7,000 dollars a year, "a figure also within the reachof small and medium-sized businesses". "We want to encouragethose businessmen who wish to expand - and are - looking atother markets such as the Middle East, but also Asia andAfrica." At the moment German, French and British companies arethe most active but "we are very interested in small andmedium-sized firms from Italy. We are focusing on them inparticular," he concluded. (AGI). .