Sharjah Publishing City Free Zone (SPCFZ), the world’s first publishing and printing free zone, and the Sharjah FDI Office (Invest in Sharjah), an affiliate of the Sharjah Investment and Development Authority (Shurooq), have signed a Memorandum of Understanding (MoU) to encourage investments, collaborate on industry information and help expand business networks mutually.
In the presence of HE Ahmed Al Ameri, Chairman of Sharjah Book Authority, and HE Marwan bin Jassim Al Sarkal, Executive Chairman of the Sharjah Investment and Development Authority (Shurooq), the agreement was signed by Salim Omar Salim, Director, Sharjah Publishing City Free Zone and Mohamed Juma Al Musharrkh, Chief Executive Officer, Invest in Sharjah on November 11, 2019.
The agreement states that both entities will facilitate and develop cooperation among their business communities and establish and maintain a business relationship of mutual benefit based on goodwill and cooperation. The agreement will play a strategic role in widening business options for investors and valuable start-up opportunities at SPCFZ, which is currently home to businesses from more than 20 countries worldwide.
As part of this agreement, both entities will exchange commercial and technical information related to their businesses.
Speaking about the MoU, Salim Omar Salim, Director, SPC Free Zone, said: “Today is a milestone in the relationship between the Sharjah Publishing City Free Zone and Invest in Sharjah. It speaks to our commitment to promote Sharjah as a leading investment destination, as well as our shared desire to make Sharjah the ideal investment option for publishing, printing and allied businesses from around the world. At SPC Free Zone, we are very focused on expanding the offerings to publishers worldwide and help them capitalise on the enormous business potential of the UAE and the region. We believe this new relationship with Invest in Sharjah will help us strengthen and grow our offerings to the mutual benefit of both entities."
For his part, Mohamed Juma Al Musharrkh, Chief Executive Officer, Invest in Sharjah said: “The relationship between Invest in Sharjah and SPC Free Zone is mutually beneficial, and as economic, cultural, and artistic investments in Sharjah continue to grow, so does our eagerness to join hands with likeminded entities to better facilitate businesses to enter Sharjah. We have been working strategically to drive more long-term and qualitative investments into Sharjah and the UAE to drive national and regional FDI performance and growth. Sharjah’s potential for promoting the regional interests of foreign publishing businesses looking to find a home base in the Middle East is endless. Our aim with this agreement is to work with SPCFZ to create awareness about its world-class offerings, strategic advantages, and investor-friendly environment amongst the global publishing community.”
SPC Free Zone was established in 2017 as the world’s very first publishing and printing free zone offering the book industry the opportunity to capitalise on an array of benefits emerging from operating within a free zone environment, including the ideal location at the epicentre of the globe with all the advantages of being able to serve the MENA, African and Asian region’s markets.
Invest in Sharjah works dedicatedly as a key facilitator to investors around the world in key sectors of education and research, healthcare, SMEs, innovation and technology. The entity serves as a nexus for public and private sector entities to meet and formulate ‘one integrated voice’ for investors. Invest In Sharjah’s efforts has intensified Sharjah’s appeal as an investment haven and strengthened investor confidence – especially in the past few years. It works in collaboration with six leading local investment and business entities to offer investors a complete picture of what’s in the offering for them.