…Businesses Operating in Sharjah’s Free Zone Can Now Expand in the Mainland and Local Markets
…‘Dual trade license’ system launched by Sharjah Publishing City and Sharjah Economic Development Department
The Sharjah Publishing City (SPC), under the umbrella of the Sharjah Book Authority (SBA) and the world’s first publishing free zone, signed an agreement with the Sharjah Economic Development Department (SEDD), to launch a new dual trade license system for businesses operating in SPC. The new dual license is another investment advantage that the SPC provides.
The dual license will grant companies two different approvals; the first is issued by the SPC administration, and the second by SEDD, which will allow companies to take advantage of investment opportunities within the free zone as well as the UAE mainland’s markets.
SPC is a key international publishing destination. The launch of this new licensing service aligns with its dedication to boost incentives and advantages, which will foster the investment environment in Sharjah and attract more publishers, designers, authors, distributors and printing experts from around the world to set up their businesses there.
HE Ahmed Al Ameri, Chairman of SBA, said: “Within a few months since inception, SPC has strengthened its position in the publishing industry, not just at the regional level.”
“The new dual license allows all SPC-based companies to make the most of the many advantages of being based in a free zone, such as 100% foreign ownership, exemption of tax, as well as making the most of the state-of-the-art infrastructure and logistics services. They will also be able to market their products and services across Sharjah and the UAE. This flexibility will boost their sales in the local publishing market which is valued at more than USD 170 million (AED 625 million),” he added.
HE Sultan bin Hadda Al Suwaidi, Chairman of SEDD, said: “At the SEDD, we seek to boost Sharjah’s economy through the development of laws and regulations, and delivering world-class services to investors, in a way that ensures meeting their aspirations and furthers the rate of their satisfaction in their dealings with our department.”
“Our agreement with the SPC to activate the dual trade licenses aligns with our dedication to forging strategic relationships with state partners in Sharjah, contributing to the development of its knowledge-based economy which is based on innovation and benefiting all other sectors. The publishing sector is one of the most vibrant sectors of Sharjah’s economy and one of its fundamental objectives to ensuring the diversification of resources.
“Sharjah provides an ideal business-friendly environment, and this is the one of the key reasons that makes it a very attractive destination for some of the best companies from around the world, and the new agreement is anticipated to further the development process in the Emirate of Sharjah,” he added.
For his part, Salim Omar Salim, Director of SPC, said: “The SPC is an exceptional destination and the world’s first publishing free zone, and the dual license is a first-of-its-kind initiative which enhances SPC’s efforts that seek to attract some of the best international publishers, and this will nurture Sharjah’s uniqueness in the world of culture and literature.”
“The on-going cooperation with Sharjah’s entities had a positive impact on SPC and furthered the positive results and advantages, such as attractive investment incentives. The SEDD is our strategic partner because it plays a pivotal role in accelerating the process of issuing trade licenses, as well as delivering a set of fully integrated premium services, the most recent being the dual license,” he added.
The SPC’s objectives align with its comprehensive vision and mission that seek to foster its position and become the world’s leading Publishing hub that ensures the prosperity of the publishing and printing businesses, as well as a platform that boosts the creativity of all those involved in this field, through a series of privileges, advantages and high-end services with cost-effective incentives in an attractive environment for publishers.
The SPC was established under the directives of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah. Covering an area of 42,000 square metres, it accommodates many institutions and entities related to the publishing sector, including translation, linguistic and literary editing offices, as well as graphic design companies. Apart from its array of advantages such as completing the process trade licenses and issuing them in 24 hours, SPC provides cutting-edge technologies in the printing and publishing field, as well as a data centre that features 16 million books in many languages that publishers can reprint, modify and update easily.