Not content with being the world’s first and only publishing city and free zone, Gulf News reports that Sharjah, one of the United Arab Emirates, has negotiated a “Dual Trade Licence” between the Sharjah Publishing City and the Sharjah Economic Development Department, that will allow publishers and related companies setting up in the publishing city to take advantage of investment opportunities not only within the free zone but also in the wider UAE marketplace.
The idea is that the new licence will attract more publishers, designers, authors, distributors and printing experts from around the world to set up their businesses in Sharjah, explained Sharjah Book Authority Chairman Ahmed Al Ameri.
Within a few months since inception, Sharjah Publishing City has strengthened its position in the publishing industry, not just at the regional level. The new dual license allows all Sharjah Publishing City based companies to make the most of the many advantages of being based in a free zone, such as 100% foreign ownership, exemption of tax, as well as making the most of the state-of-the-art infrastructure and logistics services. They will also be able to market their products and services across Sharjah and the UAE. This flexibility will boost their sales in the local publishing market which is valued at more than $170 million.