emirates7 - Sharjah’s free zones celebrated significant milestones and achievements in 2024, solidifying the emirate’s reputation as a premier destination for local, regional, and international businesses.
Over the past year, the Hamriyah Free Zone Authority (HFZA) and the Sharjah Airport International Free Zone Authority (SAIF Zone) welcomed more than 1,600 companies from countries including the US, India, Japan, the UK, Spain, Belgium, and across Africa.
The Hamriyah Free Zone Authority attracted 900 companies in 2024, particularly strengthening its role as a hub for the iron and steel manufacturing industry in the Middle East and Africa. This success was globally recognized, with HFZA receiving prestigious accolades at the 2024 'Global Free Zones of the Year Awards by fDi Intelligence', a Financial Times Group publication, for the second consecutive year.
The Sharjah Airport International Free Zone Authority also experienced robust growth, drawing over 700 companies from various sectors. SAIF Zone enhanced its prominence as a regional investment destination for the gold, jewellery, and gemstone industries. Its Gold, Diamond, and Commodities Park, home to more than 55 gold refineries and over 250 companies specializing in precious metals and trade, is now recognized as one of the largest gold refinery hubs in the GCC.
Saud Salim Al Mazrouei, Director of HFZA and SAIF Zone, highlighted that these achievements demonstrate Sharjah’s economic resilience and the visionary leadership of His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah. He emphasized the strategic focus on economic diversification and enhancing the competitiveness of Sharjah’s free zones, which continue to attract foreign direct investment and foster growth in advanced industries and commercial activities.
Collectively, HFZA and SAIF Zone host over 15,000 companies from 160 countries, cementing their status as leading global investment hubs. Their ongoing contributions to Sharjah’s economy are reflected in the emirate’s 2025 general budget, which allocates 27% to economic development and 41% to infrastructure, demonstrating a commitment to sustainable growth and strategic ambitions.
In 2024, both free zones adopted innovative strategies and cutting-edge digital technologies to enhance operational efficiency and more inclusive work environments. They now offer 600 smart services aimed at streamlining business operations and delivering a seamless investor experience marked by efficiency and excellence.
Environmental sustainability also remained a priority. Both zones partnered with Bee’ah Group to integrate eco-friendly practices and organized initiatives to promote energy efficiency, natural resource conservation, and emission reduction. These efforts underscore their commitment to fostering sustainable development and driving Sharjah’s economy forward into 2025 and beyond.
Over the past year, the Hamriyah Free Zone Authority (HFZA) and the Sharjah Airport International Free Zone Authority (SAIF Zone) welcomed more than 1,600 companies from countries including the US, India, Japan, the UK, Spain, Belgium, and across Africa.
The Hamriyah Free Zone Authority attracted 900 companies in 2024, particularly strengthening its role as a hub for the iron and steel manufacturing industry in the Middle East and Africa. This success was globally recognized, with HFZA receiving prestigious accolades at the 2024 'Global Free Zones of the Year Awards by fDi Intelligence', a Financial Times Group publication, for the second consecutive year.
The Sharjah Airport International Free Zone Authority also experienced robust growth, drawing over 700 companies from various sectors. SAIF Zone enhanced its prominence as a regional investment destination for the gold, jewellery, and gemstone industries. Its Gold, Diamond, and Commodities Park, home to more than 55 gold refineries and over 250 companies specializing in precious metals and trade, is now recognized as one of the largest gold refinery hubs in the GCC.
Saud Salim Al Mazrouei, Director of HFZA and SAIF Zone, highlighted that these achievements demonstrate Sharjah’s economic resilience and the visionary leadership of His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah. He emphasized the strategic focus on economic diversification and enhancing the competitiveness of Sharjah’s free zones, which continue to attract foreign direct investment and foster growth in advanced industries and commercial activities.
Collectively, HFZA and SAIF Zone host over 15,000 companies from 160 countries, cementing their status as leading global investment hubs. Their ongoing contributions to Sharjah’s economy are reflected in the emirate’s 2025 general budget, which allocates 27% to economic development and 41% to infrastructure, demonstrating a commitment to sustainable growth and strategic ambitions.
In 2024, both free zones adopted innovative strategies and cutting-edge digital technologies to enhance operational efficiency and more inclusive work environments. They now offer 600 smart services aimed at streamlining business operations and delivering a seamless investor experience marked by efficiency and excellence.
Environmental sustainability also remained a priority. Both zones partnered with Bee’ah Group to integrate eco-friendly practices and organized initiatives to promote energy efficiency, natural resource conservation, and emission reduction. These efforts underscore their commitment to fostering sustainable development and driving Sharjah’s economy forward into 2025 and beyond.