SHARJAH - The Hamriyah Free Zone Authority (HFZA) has signed an investment agreement with Medtra, one of the world’s major companies in the production and manufacturing of healthcare equipment and products, to expand Medtra’s operations in the MENA markets.

Under this agreement, Medtra, which operates in 40 countries, is set to invest some AED 100 million in HFZA through the construction of state-of-the-art manufacturing facilities, using the latest technologies and innovations.

Headquartered in Saudi Arabia since 2004, Medtra is serving MENA’s health care sectors, along with food, agriculture, farming, poultry, hospitality, oil and gas, as well as industrial sectors with more than 3,000 high-quality products, while the company has been serving the UAE market since 2013.

The opening ceremony for the company’s new headquarters was held in the presence of Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority, and Saj Sulaiman, Chairman of Medtra, who toured Medtra’s new manufacturing facilities and was briefed on the latest innovations the company counts on in the production of healthcare products and supplies.

Commenting on the new agreement, Al Mazrouei said, "Our agreement with Medtra to start investing in HFZA is yet another testament to Sharjah’s outstanding position as a global business destination. Meanwhile, choosing Sharjah as a new headquarters for the company, amid rising demand for healthcare and hygiene products due to the Covid-19 pandemic, clearly reflects the robustness and reputation of the emirate’s business environment at the global level in these challenging times."

"In today’s fast-paced environment, we see a lot of global and multidisciplinary companies opt for Sharjah to kick-start their operations in the region. At HFZA, we support the companies by offering fantastic benefits and facilities that help them achieve their economic aspirations," noted Al Mazrouei.

In addition to offering industrial and commercial plots of land, HFZA, the second-largest industrial-free zone in the UAE, provides advanced infrastructure and modern facilities that strengthen external expansion plans for investors, especially with importing and re-exporting to the world’s markets.

It also provides countless competitive advantages, most notably a single-window operation that boosts the efficiency of performance and eases procedures for doing business, along with multiple tax exemptions, repatriation of capital and profits, full foreign ownership of businesses, and quick access to regional and global markets

© Copyright Emirates News Agency (WAM) 2021.