The Emirate of Sharjah has taken a bold step towards establishing itself as a global leader in communication technologies with the launch of the Communication Free Zone in Sharjah. This initiative, announced by His Highness Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, signifies the emirate's commitment to fostering a vibrant ecosystem for innovation and technological advancement.
Comtech is positioned as a fundamental element in Sharjah's economic diversification and technological advancement. The free zone has established a number of goals to steer its growth.
Empowering Sharjah's Communication Technology Sector: Comtech aims to propel Sharjah to the forefront of communication technologies, not just within the UAE but on a global scale. This will involve attracting leading companies and fostering an environment that drives innovation and research.
Investment and Collaboration: The communication free zone in Sharjah aspires to become a magnet for investment, partnerships, and skilled professionals in the communication technologies field. By offering a tax-exempt environment and streamlined processes, Comtech seeks to attract businesses and individuals who will contribute to its success.
Promoting Technologies: Comtech is designed to cultivate a fertile ground for cutting-edge technologies. This includes a focus on artificial intelligence, data centres, and other technologies shaping the future.
For companies in search of a vibrant and supportive setting to thrive, Communication Free Zone in Sharjah, provides numerous advantages such as
Tax Benefits: Businesses based in Comtech will benefit from a significant advantage – a 50-year exemption from corporate and income taxes. This exemption is renewable, making Comtech an appealing choice for companies seeking long-term financial security.
Reduced Fees and Charges: Alongside tax benefits, Comtech provides relief from most local fees, creating a cost-efficient operational environment.
Efficient Processes: The communication free zone in Sharjah e is dedicated to delivering a streamlined business setup process, enabling companies to commence operations promptly and effectively.
Connectivity: Positioned in Sharjah's strategic location with advanced infrastructure, Comtech offers exceptional connectivity, a critical element for communication technology enterprises.
The oversight of the Communication Free Zone will be carried out by a specialized governing body. A Chairman will be responsible for providing strategic direction, and a Director, appointed by the Ruler or Council, will be in charge of the daily operations. The Director will have the authority to set policies, manage budgets, and make critical decisions to guarantee the success of the free zone.
The governance of the Communication Free Zone in Sharjah, will be supervised by a dedicated governing body. A Chairman will offer strategic guidance, while a Director, appointed by the Ruler or Council, will be responsible for the day-to-day operations. The Director will have the power to establish policies, oversee budgets, and make crucial decisions to ensure the success of the free zone.
The launch of Communication Free Zone in Sharjah is a watershed moment for Sharjah and the UAE as a whole. With its focus on innovation, collaboration, and cutting-edge technologies, Comtech has the potential to:
Attract Leading Tech Companies: The free zone's exceptional offerings are likely to attract leading communication technology companies from around the world, creating a dynamic and diverse business ecosystem.
Stimulate Innovation and Research: By fostering an environment that encourages research and development, Comtech can become a hub for ground-breaking advancements in communication technologies.
Sharjah's Position on the Global Stage: The success of Comtech will solidify Sharjah's position as a global leader in communication technologies, attracting investments and partnerships that will further propel its economic development.
The Communication Free Zone in Sharjah is at the beginning of its journey. Equipped with clear goals, appealing advantages, and a robust governance framework, Comtech is ready to revolutionize the realm of communication technologies and drive Sharjah towards a more innovative and advanced future.