Meeting Fujairah Free Zone
A delegation from the Fujairah Free Zone Authority, in a campaign to promote the benefits of the Emirates to attract foreign businesses to its territory, came to Greece to make road shows. In this context, detailed presentations on the economy and business environment in Fujairah, the incentives and facilities offered to foreign companies, local production opportunities, logistics services, or transit trade to many Arabian Gulf markets and other countries were made.
The high-level delegation contacted Greek businessmen and executives and discussed plans of Greek companies seeking to strengthen their networking in dynamic markets through appropriate synergies and alliances. A mission to Fujairah has already been planned with Greek companies that want to further explore and engage in contacts with Government officials and local companies, for which the Fujairah Government is going to partially cover the costs of hosting (stay, local travel, etc.) of those who participate.
The Emirate of Fujairah is one of the seven emirates that make up the United Arab Emirates and the only one in the Gulf of Oman in the east of the country. The Emirate of Fujairah covers about 1.5% of its area of the United Arab Emirates, and is the 5th largest emirate in the United Arab Emirates. Its population is about 170,000 inhabitants.
The administrative powers are held by the governor of Fujairah, HH Sheikh
Hamad Bin Mohammed Al Sharqi.
Fujairah's economic policy is based on the protection and respect for individual freedom of ownership of the means of production and the exercise of all kinds of business activity, providing all the comforts. There are no restrictions on imports and exports, except for some small customs and administrative duties. The government plays a supervisory role in legislation, which organizes the operation of various economic sectors and does not hinder business activity.
As the Free Zone Governor and Sharief Habib Al Awadhi, the main speaker of the workshop, the launch of a business action in Fujairah's Free Zone is characterized by simple and quick procedures, absolutely law-abiding and safe.
Among the advantages of Fujairah's investment activity are the strategic position of the Emirate, its modern port (the second largest refueling port in the world), opportunities for investment in land and mining programs (rocks, ores and oil), opportunities for investment in tourism, friendly government investment policy, full return of profits and capital, zero income tax or corporation tax, gateway to major economic destinations, eftherou trade, stable currency and a modern, sophisticated communication system, an international airport.
Panamesitica through the warm relationships and close cooperation it has developed with the Fujairah Emirate is able to support and guide your every investment and business activity.
An invitation to Greek entrepreneurs to invest in the Fujiyra emirate, which will be the gateway to the United Arab Emirates Federation, is being prepared by Sharif Hamid Al-Aywadi, a member of the royal family and general manager of the Free Zone Authority AEZ) to that emirate.
In this context, S. Al-Wadi will visit Greece in the coming days, having already included on his agenda meetings with heads of Greek businesses from the shipping, logistics, building materials and other developing sectors. Its aim is to highlight the tax incentives and facilities offered by the emirate of 170,000 residents to foreign companies interested in doing business either in the production sector or in the transit trade by setting up commercial enterprises in Fujayrah.
The Free Zone Authority was established in 1987 in a governmental direction to support the national economy through the strategy of attracting foreign investment. Headquartered in Fujairah, the Organization exploits the geographical proximity of the region on major shipping routes to attract international businessmen and businesses seeking to penetrate the Middle East market. S. Al-Wadi has been head of the Fujairah Free Zone Authority since 1996, but his relationship with the Organization began five years earlier. His duty to pursue his professional duties consistently and to make Emirates a pole of attraction for foreign investors, which in turn will support the national economy, makes him travel to every corner of the world from India and China, and Europe. For the first time in 2014, Panos Gounaris (resident in Dubai and business in the United Arab Emirates) first visited the country to participate in the Pakias Group, in cooperation with the Business Council for BSE International Actions.
During his visit, S. Al. Wadi, had signed, on behalf of the Free Zone Authority, a cooperation protocol with the Piraeus Chamber of Commerce. In the first invitation addressed to Greek companies to visit Fujairah, in order to discover the benefits of the emirate, he had undertaken to cover part of their expenses. This time, Fujairah eminent agent, sets an even higher bar and seeks to attract even more Greek companies, so that as a possible date of his visit is considered one of the days when Posidonia will be held in early June.
In order to successfully fulfill his goal and attract Greek companies to Fujairah, S. Al-Wadi likes to invest with a bouquet saying that "like the variety of flowers that can make a bouquet, the investor can combine to invest in Fujairah, cheap labor, qualified accountants, higher cost and senior engineers, demanding even higher salaries. "
The Emirate of Fujairah was founded in 1761 and named "The Deerland" by a Sheikh of the Banii Yas tribe. It is one of the seven emirates that make up the United Arab Emirates and the only one with access to the Indian Ocean. Its key position is a comparative advantage for the Emirate, where a pipeline was constructed to directly transport Abu Dhabi oil, bypassing the Straits of Hormuz and thus avoiding interruption of exports by external factors.
Apart from the prospects for business, Fujairah is a growing tourist destination, offering luxurious hotel units. It is the fifth largest emirate of the UAE headed by Sheikh Hamat bin Muhammad Al Sharki, with whom SAE holds regular meetings. Stream.
The close relationship he has developed with Emiratet Seich, coupled with his intense and extrovert personality, was a determining factor for S. Al. Wadi, to undertake extensive activities in the Emirate. Thus, in addition to the Director of the Free Zone Authority, he is also a member of the Petroleum Management Board and is also the head of sport of the Fujairah Emirate, serving as Minister of Sport. The weight given by the Emirate to the Al Fujayera football team is evidenced by the fact that her coach for 2017/2018 is Ntiego Maradona, world-renowned, as one of the best players in the history of football.
Through his expanded tasks, S. Al. Wandi is committed to dedicating its efforts to supporting the country's economic vitality and competitive strength and aims to make the Emirate a major force in the global economy.
