The Fujairah Chamber of Commerce and Industry, in collaboration with the Ministry of Foreign Affairs, hosted an informative workshop aimed at ambassadors and consuls of the country in friendly states. The session was led by Sultan Al Hindasi, the General Manager of the chamber, via video conferencing.
During the workshop, he highlighted Fujairah’s strategic location on the Gulf of Oman and the Indian Ocean, situated outside the Strait of Hormuz. This positioning facilitates the export of approximately 70% of the country’s crude oil, which arrives in Fujairah through a pipeline extending from Habshan.
Al Hindasi noted that the Port of Fujairah is the only multipurpose port on the eastern coast of the UAE. Its strategic location, just 70 nautical miles from the Strait of Hormuz, makes it a crucial link between Europe and Asia, enhancing local and international trade opportunities to the markets of the Indian subcontinent and East Africa.
He pointed out that Fujairah Port stands out as one of the largest international hubs for marine supply services and is among the leading centers for refueling vessels worldwide. The total number of ships visiting the port approached 4,900, with a handling capacity of nearly 120 million tons of various goods.
Additionally, he discussed the Fujairah Free Zone, which currently hosts around 2,000 manufacturing and service companies. The zone offers various incentives for investors, including 100% ownership of businesses and the freedom to transfer capital and profits.
Al Hindasi elaborated on the industrial sectors in Fujairah, including construction materials, cement, rock wool, and basalt rod production, utilizing the abundant non-metallic mineral resources available in the emirate. He mentioned that mining and manufacturing industries contribute about 35% to the emirate’s GDP.
He also mentioned industries related to oil storage and refining, plastic production, electrical cables, food products, and quarries, including gabbro stones which are exported to regional countries.
Moreover, he discussed the Fujairah Petroleum Industrial Area, which oversees the petroleum-related industries in the emirate, including the regulation of oil and hydrocarbon industries, refineries, and transportation and storage operations.
This area is also responsible for developing plans, policies, and measures to support and safeguard petroleum investments located in the region. Additionally, he highlighted the grain silos at Fujairah Port, which contribute to the country’s strategic grain stockpile of 300,000 metric tons.
He also reviewed the tourism landscape in the emirate, characterized by mountains and valleys interspersed with hotel resorts by the sea, as well as historical landmarks represented by castles and forts. Furthermore, he discussed the advantages granted for foreign direct investment under the federal law in this regard.