Significance of SME
The significance of SMEs in driving innovation and competition is well recognized. It has a pivotal role in the overall industrial economy of any country. Globally SMEs account for 99% of business numbers and up to 50% of GDP. A great feat, indeed!
Because of the small investment amount, SMEs are generally labor intensive, creating more employment opportunities and social value also. They support and supply to large industries raw materials, components and service. SMEs are essential for large businesses and integrate well into the industrial concept of co-ordination, integration and multi-disciplinary approach in the deployment of total solutions.
SME Zone in Hamriyah
Small is beautiful, but more often than not, weaker as well. SMEs have to be nestled and nurtured until they are ready to fly. To support this important sector of the economy Hamriyah Free Zone has cobbled together a common sense solution for SMEs. An area of approximate 10 million m² in HFZ phase II is leveled at Free Zone expense, base line data studies are undertaken and the whole area is made ready to use with efficiency and agility. The result is a Magnificent Zone of 7 beautiful industrial which is supported by the excellent deep and inner harbor facilities in Phase I.
In addition to the key support tools aforesaid Hamriyah Free Zone provides preferential economic treatment for the SMEs in terms of discounted lease rents. The land rate is AED 30 (approximately USD 8.22) per m2 per year, fixed for first 5 years. Throughout these good 5 year they are given rent holidays of 2 months every year.
Hamriyah SME Zone- A Success Story
The vision and support of Hamriyah Free Zone For this vital business sector has been recognised by the investor community. The plots are being leased and developed by early birds even during the continuing tough times of recessionary trends. The Free Zone offers further assistance to tenants by helping support any cash flow issues thanks to the flexibility of payment by installment. The SME Zone Fast tracks for its SME investors various engineering approvals in order for investors to commence business and take full advantage of any early opportunities of market revival. It is a paradox that while businesses in other areas are in distress HFZ SMEs are on a non- stoppable march to the glory of success