The ruler of Sharjah has issued a decree to establish a media city free zone in the emirate.
Sharjah Media City (SMC) Free Zone will aim to attract businesses from the media and creative industries and – like free zones elsewhere in the UAE – will have its own financial, administrative and legal powers.
The exact location of the free zone has yet to be announced, according to a report in state news agency WAM. Its “geographical resolution and borders” will be determined in a separate decree to be issued by Sheikh Sultan bin Mohammed Al Qasimi, supreme council member and Ruler of Sharjah, at a later date.
The decree issued this week lists the free zone’s aims and objectives: “to develop and embrace talent and manpower working in media and creative fields, and regional leadership in the field of creative media training, support the development of creative, high-quality media, and provide a favourable environment for the media and creativity by creating an attractive and sustainable city with infrastructure and world-class services at reasonable cost.”
According to the decree, the free zone will be managed by an executive body – headed by a president appointed by another decree – responsible for setting a strategy for the city’s programmes and projects and supervising their implementation. The body will also oversee the implementation of administrative and financial regulations and approve the budget, said WAM.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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