Mangaluru : The Sharjah Airport International Free (SAIF) Zone has invited firms from Dakshina Kannada to set up business ventures at the zone.

At a meeting organised by the Federation of Indian Export Organisations here on Monday, Mohammed Al-Mahmoud, commercial director of the SAIF Zone, said that it had been one of the largest growing trade zones in the world. With a well-connected port and air network, firms at the SAIF Zone could do international business.

SAIF Zone’s sales manager Thomas Joseph said that firms operating there would get 100 per cent exemption from import and export duties. Unlike setting up units in the UAE, firms operating in the zone could own 100 per cent shares.

The firms are allowed to bring their own staff and personnel to run the units. Licences for starting units and business ventures would be issued within 24 hours of application.

With three ports and the Dubai International Airport located close by, there would be far more reduction in the handling charges for goods.

Creation of offshore hub would encourage exporters to set up value-added facilities like processing, finishing, assembling and packaging. Setting up manufacturing facilities would help re-export goods to Bahrain, Oman and other countries which are part of the Gulf Cooperation Council. It could be exported to the Middle East and North Africa.

This was apart from exposure to two billion customers in the United Arab Emirates.

Since starting its operations two decades ago, Mr. Joseph said that 7,600 companies from 149 countries were operating from the SAIF Zone. Nearly 50 per cent of the investors at the zone were from India.