HFZA to showcase incentives offered to investors in energy & oil sector
Abu Dhabi, November 1, 2022: The Hamriyah Free Zone Authority (HFZA) announced it is participating in the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), the world’s most influential gathering for energy industry professionals, which kicked off yesterday (Monday), bringing together an elite group of energy leaders, decision makers, and CEOs.
Over the course of the four-day event, the free zone will highlight its integrated services and incentives provided to businesses in the energy, oil, and gas sectors as well as its strategy developed to draw in businesses from all over the world, taking advantage of its easy access to global markets and 360-degree connectivity with a strong land, sea, and air network.
HFZA will also shed light on its sophisticated infrastructure, outstanding services, and business incentives, including a single-window operation that boosts the efficiency of performance and simplifies procedures of doing business; along with multiple tax exemptions; repatriation of capital and profits; full foreign ownership of the business; and quick access to regional and global markets.
Market Trends
HE Saud Salim Al Mazrouei, HFZA Director, stressed that ADIPEC has become one of the top global events that HFZA is eagerly waiting to participate in as it brings together energy experts from around the world to discuss market trends.
The conference will provide us a great opportunity to learn about the demands of the business community in this critical sector while demonstrating the UAE’s leadership in the world of energy. “During the event, we will not only showcase the unparalleled incentives offered by HFZA to international businesses seeking to base their operations in the UAE and MENA, but will also promote Sharjah’s developmental approach to becoming a global business hub,” Al Mazrouei said.
Integrated Strategy
Al Mazrouei affirmed that HFZA has expanded its global presence in the oil, gas, and petrochemical sectors by leveraging its growing customer base, which now includes over 1,500 companies, comprising major players in the industry. ” This can be attributed to the free zone’s adoption of an integrated strategy aimed at attracting large international oil and gas companies that will be backed by an excellent business environment and exceptional services and benefits system. This is in addition to HFZA’s strategic location near Al Hamriya Port, which has turned it into a major contributor to the national economy and a favoured industrial hub for renowned international corporations,” he added.
HFZA’s pavilion number 129 is expected to receive a sizable number of visitors and companies wishing to learn about its worthwhile and feasible offers tailored to help investors achieve their business objectives at the UAE’s second largest free zone, spanning 30 million square metres and housing over 6,700 companies from 160 countries.
