Saturday, October 22, 2005

Got the free zone blues :: Gulf News

Quote:
Gulf News received many calls from companies in other free zones as well saying they are nervous about what they see as a precedent.

Similar customs memos were posted on the notice boards of their free zone offices, the companies said.

"We came here because of the free zone incentives offered. We are now unsure whether these incentives can be revoked at any time overriding the free zone charter," said an executive of a company in the Sharjah free zone, who did not wish to be named.

"We are not in the scrap trade but today it is an export tax on metal scrap tomorrow it may be on something else. This is worrying," he said.

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