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SHARJAH / WAM
Sharjah Airport International Free Zone (SAIF Zone) continues its remarkable growth trajectory, solidifying its reputation as one of the fastest-growing free zones in the Middle East with Tokai Optical Co, a prestigious Japanese company renowned for its expertise in prescription lens manufacturing, basing its operation in the free zone under a partnership agreement signed between both sides.
Under the terms of the memorandum of understanding (MoU), Tokai Optical will lease a warehouse covering approximately 4,300 square feet within the Free Zone. This marks the first phase of Tokai Optical’s expansion in SAIF Zone, representing an investment of around AED8 million. The MoU signing ceremony took place at SAIF Zone’s headquarters where
it was attended by key figures, including Saud Salim Al Mazrouei, Director of SAIF Zone, and Kurt Leuridan, CEO of Tokai Optics and a shareholder of Tokai Optical in Japan. The event was also attended by senior officials and managers from both sides.
Tokai Optical ranks among the top 5 lens manufacturers worldwide and is positioned among the top 3 companies for research and development in its sector. Distinguishing itself, the company produces all its products in-house and holds the world record for the thinnest lens, exemplified by the Tokai 1.76 lens. The new partnership with Tokai Optical underscores the growing prominence of SAIF Zone as a preferred destination for international companies seeking to extend their reach into global markets.
It also solidifies its status as a strategic hub for businesses aiming to swiftly penetrate the Middle East and African markets. Furthermore, this achievement highlights the free zone’s relentless efforts to attract foreign direct investment across various economic sectors. Saud Salim Al Mazrouei, Director of SAIF Zone, stressed that the successful attraction of a well-established company with an impressive 85-year history underscores the significant value that the free zone offers to international businesses. He highlighted the secure environment it provides for their investments while emphasising that the Emirate of Sharjah, guided by the wise directives of H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, is committed to enhancing its competitiveness and fostering foreign direct investment.
Al Mazrouei further underlined that the comprehensive suite of services offered by the free zone to international companies forms the bedrock of its competitive edge, drawing firms from diverse industries and sectors. The addition of “Tokai Optical” to the fold is expected to catalyse growth and development in both the industrial and medical sectors across the UAE and, more specifically, in Sharjah, fortifying the emirate’s standing as a prime destination for high-quality investments. For his part, Kurt Leuridan, CEO of Tokai Optics, underscored the conducive business environment that encourages investment in SAIF Zone as a key factor driving the company’s decision to establish a presence in the region. He noted that Tokai Optical’s overarching objective is to expand into global markets and reach diverse consumer segments, and SAIF Zone perfectly aligns with this vision.