Sharjah Publishing City Free Zone (SPC Free Zone) has announced that in 2021, it witnessed impressive growth in the number of new company registrations with a total of 2,000 new companies from across 106 countries, mainly from the UK, India, Pakistan, the Philippines, and Lebanon, Emirates News Agency (WAM) reported.
Stakeholders in the education and publishing sectors, and creative sector players such as translation agencies and linguistic editing offices, have leveraged SPC Free Zone’s nurturing and supportive environment and advanced infrastructure to conduct business and expand operations in the region in 2021, it said.
According to WAM, the number of newly registered publishing companies and allied businesses have risen over the previous year. This reflects the emirate’s ongoing efforts to attract investments in diverse economic sectors, including creative industries, through the free zone’s portfolio of advanced services and state-of-the-art facilities that cater to investors’ needs.
The launch of several initiatives to attract investors and cultural and academic entities to set base in the emirate has seen SPC Free Zone successfully strengthen its leading position as a driver of economic growth and diversification and become a haven for entrepreneurs across a spectrum of creative industries.
Covering an area of 40,000 square meters, SPC provides 600 furnished offices for publishing entrepreneurs and 6,000 square meters of space for investors planning to create their own spaces. It also houses more than 20 conference rooms, stores, service facilities, and a public administration branch of the Federal Authority for Identity and Citizenship to speed up investor visa processing.
Open 24/7, SPC Free Zone offers investors a wide range of benefits, including 100 percent foreign ownership for all nationalities, 100 percent repatriation of capital, 100 percent exemption from personal income tax, corporate tax, import and export tax, as well as access to all other services at cost-effective rates, including manpower, energy, living, printing, and logistics.
Sharjah Publishing City Free Zone was awarded the Quality Management System Certificate (ISO 9001:2015) in 2021 to recognize its excellence as a business incubator and for providing a supportive environment for investors and start-ups in the publishing and allied sectors.
In 2021, SPC Free Zone signed a Memorandum of Understanding (MoU) with Mashreq Bank to offer priority access to various financial and banking services to investors and entrepreneurs in different market sectors.
Ahmed bin Rakkad Al Ameri, Chairman of the Sharjah Book Authority (SBA), said that under the directives of Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, the emirate has emerged as a leading and pioneering city that supports investments in the creative sector and provides world-class infrastructure for entrepreneurs.
He added, "The achievements of Sharjah in the publishing sector are paving the way for the promotion of creativity and innovation and enhancing the emirate’s position as a nurturing economic ecosystem that invests in knowledge and culture and attracts publishers and bookmakers to the emirate to set up a business and expand to international markets."
Director of Sharjah Publishing City Free Zone (SPC Free Zone) Salim Omar Salim noted that the increasing number of investors wanting to start their business in the free zone is a testament to Sharjah’s status as a leading knowledge capital of the world and its successful efforts in creating an inclusive ecosystem for regional and international publishers.