Sharjah, UAE – Sharjah’s free zones marked a landmark year in 2024, cementing their reputation as top destinations for global businesses and investment hubs in the Middle East. The Hamriyah Free Zone Authority (HFZA) and Sharjah Airport International Free Zone Authority (SAIF Zone) achieved significant milestones, attracting over 1,600 companies from across the globe and receiving prestigious international accolades.
HFZA and SAIF Zone welcomed businesses from the US, India, Japan, the UK, Africa, and other regions, highlighting Sharjah’s growing appeal. HFZA alone attracted 900 companies in diverse sectors, particularly iron and steel manufacturing, reinforcing its role as a key player in the Middle East and Africa’s industrial landscape. Meanwhile, SAIF Zone drew more than 700 companies, bolstering its status as a regional hub for the gold, jewellery, and gemstone industries.
HFZA’s outstanding performance earned it three prestigious awards at the 2024 Global Free Zones of the Year by fDi Intelligence, a Financial Times Group publication. The free zone ranked as the second-best globally and received commendations for its excellence as an industrial hub both regionally and globally.
Under the visionary leadership of His Highness Sheikh Dr Sultan Bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, the emirate continues to prioritize economic diversification. This focus is reflected in the allocation of 27% of Sharjah’s 2025 general budget to economic development and 41% to infrastructure projects, enabling sustained growth across its free zones.
“These accomplishments underscore the resilience of Sharjah’s economy and its ability to attract foreign investment,” remarked Saud Salim Al Mazrouei, Director of HFZA and SAIF Zone.
Both free zones advanced their operational frameworks in 2024, integrating cutting-edge digital technologies to offer 600 smart services designed to optimize business efficiency. They also strengthened environmental sustainability efforts through a strategic partnership with Bee’ah Group, promoting energy conservation and eco-friendly practices.
The Gold, Diamond, and Commodities Park at SAIF Zone further enhanced its prominence, housing over 55 gold refineries and 250 companies specializing in the trade of precious metals such as gold, platinum, and titanium.
Looking ahead, HFZA and SAIF Zone aim to build on their successes by fostering innovation, sustainability, and growth. Their developmental strategies are set to further solidify Sharjah’s position as a global business hub, continuing to attract investments and driving economic progress into 2025 and beyond.
This latest chapter in Sharjah’s development highlights the emirate’s unwavering commitment to creating a thriving and sustainable business ecosystem for investors worldwide.
