Hamriyah Free Zone in Sharjah says it is progressing well towards becoming a growth engine of the local economy.

The second largest industrial free zone in the UAE, it showcased its key facilities at the Big 5 Show held recently in Dubai, UAE.

Today, it houses over 6,500 enterprises from across 157 nations, attracting foreign investment from more than 500 industry verticals in key sectors such as oil and gas, petrochemicals, maritime, steel, construction, and food.

“The show, which attracted over 3,000 exhibitors, was an outstanding venue to showcase our portfolio and enhance our access to the regional and international market,” remarked Saud Al Mazrouei, the director of HFZA and Sharjah Airport International Free Zone (SAIF Zone).

“The region is seeing nation-wide transformation in construction innovation. We interacted with exhibitors from Saudi Arabia, Iran, India, Oman, Qatar, Kuwait, Bahrain, Egypt, Italy, Germany, Spain, Greece and the UK. In addition, we held a series of meetings with potential investors from Europe, America, Asia and the Middle East,” he added.

Stressing the importance of free zones in promoting the growth of non-oil economies, Al Mazrouei said: “Since the number of large-scale developments in the GCC region has been increasing, free zones can play a big role in it, especially in construction and building.”

According to statistics, trade through UAE free zones increased seven per cent year-on-year in the first half of 2014 to $73 billion, while imports through free zones also expanded by 10 per cent to $41 billion.

In addition, direct exports and re-exports from free zones have increased by five per cent, to around $3 billion and $28.8 billion respectively, he added.