Sharjah’s free zones marked major achievements and milestones last year, reinforcing their pivotal role in establishing the emirate as some of the most attractive destinations for local, regional and international businesses.
The Hamriyah Free Zone Authority (HFZA) and the Sharjah Airport International Free Zone Authority (SAIF Zone) attracted more than 1,600 companies from various countries worldwide in 2024, including the U.S., Africa, India, Japan, the U.K., Spain, Belgium and others.
Saud Salim Al Mazrouei, director of HFZA and the SAIF Zone, emphasized that the significant accomplishments and milestones achieved by both zones in 2024 reflect the resilience and strength of Sharjah’s economy. These zones continue to attract foreign direct investment, fostering growth as hubs for advanced industries and commercial activities across various sectors.
SAIF Zone emerges as major gold refinery hubs
In 2024, the Hamriyah Free Zone Authority attracted 900 companies and corporations across diverse sectors, specifically for the iron and steel manufacturing industry in the Middle East and Africa. The authority also clinched prestigious international awards at the 2024 iteration of the Global Free Zones of the Year Award by fDi Intelligence, for the second consecutive time.
Meanwhile, the Sharjah Airport International Free Zone Authority experienced significant growth in the past year, attracting over 700 international and local companies from diverse sectors. In addition, it has further strengthened its position as a regional investment destination for the gold, jewelry and gemstone industries.
Its Gold, Diamond, and Commodities Park is recognized as one of GCC’s largest gold refinery hubs, accommodating over 55 gold refineries and hosting more than 250 regional and international companies specializing in gold, platinum, silver and titanium manufacturing and trade.
Sharjah free zones host over 15,000 companies
Sharjah’s two free zones have firmly established themselves as leading investment destinations in the Middle East and globally, hosting over 15,000 companies from 160 countries worldwide.
Al Mazrouei noted that these achievements create a strong impetus among Sharjah’s free zones to strengthen their developmental role and further their contributions to the emirate’s economy in 2025. This progress is underpinned by the steady growth of Sharjah’s economy, driven by the diversity and complementarity of its sectors and their alignment with the emirate’s strategic ambitions and development plans.
This growth is evident in Sharjah’s 2025 general budget, where the economic development sector accounts for 27 percent of the new budget, while the infrastructure sector ranks first, comprising 41 percent of the total general budget for 2025.
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Tech, sustainability initiatives drive growth
In line with their commitment to innovation and sustainability, Sharjah’s two free zones enhanced their operational frameworks in 2024 by leveraging cutting-edge digital technologies to create flexible and inclusive work environments. Together, they now offer a comprehensive portfolio of 600 smart services that seek to optimize operational efficiency, streamline business activities and deliver an investor experience that relies on efficiency, speed, and excellence.
The two free zones also strengthened their focus on environmental sustainability by adopting innovative strategies to build an integrated system of eco-friendly services. This included signing a strategic partnership agreement with “Bee’ah Group” and organizing initiatives, including events and workshops to encourage businesses and investors to embrace effective environmental solutions that focus on energy efficiency, natural resource preservation and emission minimization.
