Sharjah Free Zones host over 15,000 companies

Sharjah’s free zones—Hamriyah Free Zone Authority (HFZA) and Sharjah Airport International Free Zone Authority (SAIF Zone)—celebrated significant achievements in 2024, reinforcing the emirate’s position as a premier destination for local, regional, and international businesses.

Over the past year, the two free zones collectively attracted more than 1,600 companies from across the globe, including the US, Africa, India, Japan, the UK, Spain, Belgium, and other nations. HFZA welcomed 900 companies, with notable contributions from the iron and steel manufacturing sector, which bolstered its role as a hub for industrial activity in the Middle East and Africa.

SAIF Zone drew over 700 companies, enhancing its reputation as a leader in sectors such as gold, jewellery, and gemstone industries. The zone’s Gold, Diamond, and Commodities Park, one of the largest refinery hubs in the GCC, now hosts 55 gold refineries and more than 250 companies involved in precious metals manufacturing and trade.

In a testament to their global influence, HFZA won prestigious international awards at the 2024 Global Free Zones of the Year Award, presented by fDi Intelligence, a publication of the Financial Times Group. This marks the second consecutive year HFZA has received this honour, highlighting its innovative approaches and contribution to the global free zone landscape.

Driving Economic Diversification

According to Saud Salim Al Mazrouei, Director of HFZA and SAIF Zone, these achievements reflect the resilience and strength of Sharjah’s economy. Guided by the directives of His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, the emirate has prioritised economic diversification and enhanced the competitiveness of its free zones.

Both HFZA and SAIF Zone now host over 15,000 companies from 160 countries, solidifying their status as leading investment destinations in the Middle East and beyond.

In 2024, the free zones made strides in digital transformation by introducing 600 smart services designed to improve operational efficiency, streamline business processes, and deliver an exceptional investor experience. These innovations have enhanced their ability to create inclusive and flexible work environments.

The zones also embraced environmental sustainability, adopting strategies that align with global green standards. In collaboration with Bee'ah Group, they organised initiatives to promote energy efficiency, resource conservation, and emission reduction. These efforts reflect Sharjah’s commitment to building an eco-friendly business ecosystem.

As Sharjah moves into 2025, its free zones are poised to play a pivotal role in the emirate’s development. The 2025 general budget allocates 27% to economic development and 41% to infrastructure, underscoring the emirate’s commitment to fostering growth and enhancing its economic landscape.

Al Mazrouei highlighted that the free zones’ progress aligns with Sharjah’s strategic ambitions and development plans, further positioning the emirate as a global hub for advanced industries and commercial activities.