Sharjah Publishing City Free Zone (SPC Free Zone), the first-of-its-kind hub for publishing, printing, and allied businesses in the creative industries, has signed a Memorandum of Understanding (MoU) with Mashreq Bank, to offer priority access to banking services to its investors, startups, and business owners, and further drive the growth of the free zone.

Salim Omar Salim, Director, SPC Free Zone, signed the MoU with Vikas Thapar, Head of Business Banking and NEOBiz, Mashreq Bank.

Under the terms of the MoU, SPC Free Zone and Mashreq bank will collaborate to assist the free zone’s customers to open and operate bank accounts and gain easy access to an array of financial services offered by Mashreq. The bank will give preference to SPC Free Zone customers and expedite their account opening process.

Salim Omar Salim, Director, SPC Free Zone, said: “This MoU reinforces our mission to encourage and support our investors in all aspects of their journey with us. We are constantly looking at new ways of supporting our investors and partners, and joining forces with Mashreq bank testifies to our commitment to provide them with one-stop solutions that combine value and service to facilitate their growth and expansion, in the UAE and beyond.”

“We are dedicated to aiding the ambitions of businesses, entrepreneurs and investors who set up base in our world-class free zone. From business licensing to fully-equipped office spaces, printing and packaging facilities, tax free income, and more, we serve the interests of global businesses, and this new feature will help us serve our customers better,” he added.

Vikas Thapar, Head of Business Banking and NEOBiz, Mashreq Bank said: “Mashreq has always been at the forefront of supporting SMEs and start-ups in the UAE. The partnership with SPC Free Zone reinforces our commitment to create a favorable environment for businesses to flourish and drive social and economic development in the emirate. Our digital banking proposition will enable SPC Free Zone to further support and empower entrepreneurs and SME owners to meet all their banking requirements digitally.”

Leveraging Sharjah’s strategic location between east and west, SPC Free Zone has been playing a key role in bringing publishers from either sides of the world closer, propelling the entry and expansion of industry players into the Gulf, Middle East and North Africa regions. It offers businesses an advantageous free-zone business environment with numerous benefits including 100 per cent foreign ownership, best-in-class infrastructure replete with fully-equipped office spaces, and comprehensive allied services like printing, licensing and distribution.

A total of 38 publishing companies with offices registered in the Sharjah Publishing City Free Zone (SPC Free Zone), the world’s first specialist book printing and publishing free zone that also supports businesses from other sectors, participated in the 40th Sharjah International Book Fair (SIBF 2021), which was held recently at the Expo Centre Sharjah.

In line with its aim to develop the publishing sector in the region and its commitment to forging strategic partnerships with a community of publishing experts, the SPC Free Zone has facilitated the participation of the publishers at SIBF 2021, by prioritising their registration and helping them transport their books to the venue and participate in related cultural events.

The SPC Free Zone is also offering an array of attractive business set-up packages and incentives to publishers from around the world participating in SIBF 2021.

Salim Omar Salim, Director of the SPC Free Zone, said, “With more than 1,632 publishers from 83 countries and over a thousand cultural activities, this milestone edition of SIBF celebrates the return to a fully-physical format, to further its stature as one of the most prominent global book events.”

“This year, 38 publishers operating in the SPC Free Zone are at SIBF to showcase their titles and network and share expertise with their colleagues from the UAE and abroad. I urge them to make use of this historic opportunity to promote their publications, reach out to a larger number of readers across age groups and cultures, and connect with regional and international industry professionals,” he added.

Sharjah Publishing City was established in 2017 as the world’s first publishing free zone offering the book industry the opportunity to capitalise on an array of benefits by operating within a free zone environment. Further benefits also include its central international location with access to Middle Eastern, African and Asian markets.