Sharjah's publishing free zone invites Indian investors

Indian publishers and printers keen to expand their businesses to global markets are being offered the chance to set shop in the world’s first-of-its-kind publishing free zone which will open in Sharjah this year, offering top class built-up infrastructure, a slew of tax incentives and hassle-free relocation.

18 Jan 2017 | By Dibyajyoti Sarma

Mohamed Noor Hersi, consultant, Sharjah Publishing City, during a meeting with the Indian publishing fraternity in New Delhi recently

A flagship project of the government-owned Sharjah Book Authority (SBA), the Sharjah Publishing City is a free-zone covering 400,000 sq/m of land with office and warehousing space for companies to set up regional, as well as international sales and marketing presence. The zone is expected to open in the first quarter of 2017.

Sharjah, one of the seven Emirates of the UAE, has the advantage of a strategic geographical location with access to the vast Middle East, African and Asian markets.

The UAE’s publishing market is estimated to be USD 233 million and expected to triple in size by 2030. The Arab world collectively imports USD 1 billion worth of books annually, with the EU currently having a 29% market share.

India exports about USD 26 million worth of books and other printed materials to the Arab world, with the UAE claiming a 37% share of this.

“The Sharjah Publishing City is a very significant project for us, both culturally and economically. We will pull out all stops to make sure it becomes a global hub for publishing in the future,” said Ahmed Al Ameri of SBA. “We are particularly keen to have Indian investors on board with us, especially because we already have such strong trade and bilateral linkages.”

Sharjah Publishing City is currently inviting initial expressions of interest for commercial registration and leasing. The Sharjah Book Authority team met members of the Indian publishing fraternity at a dinner meeting recently. It also took part in the New Delhi World Book Fair held from 7 to 15 January.

Mohamed Noor Hersi, consultant to the Sharjah Publishing City, and an advisor to the SBA chairman, said the government of Sharjah has lined up a string of financial incentives to attract Indian publishers. These include foreign ownership, fund repatriation, zero currency restrictions and exemption of corporate and personal income tax; and exemption on import and export tax.

The free zone has a choice of furnished or unfurnished offices with long-term and short-term storage facilities, licences issued in 24 hours, sponsorship and visas for all staff and zero restrictions on hiring 100% expatriate workers.

The Publishing City will have pre-built warehouses implemented as part of phase II scheduled for 2017. They will be available for an affordable annual rent. Investors and their employees will be sponsored under the Sharjah Publishing City Authority.

“The Sharjah Publishing City will be tailored for the publishing industry, which is undergoing sweeping changes in an era of digitisation. We understand the needs of the industry and the markets, and have custom-built the space for them,” said Hersi. “The UAE has a reputation as a highly investor-friendly destination, and we are sure to maintain this with the Sharjah Publishing City.”