SHARJAH: Azerbaijan’s Vittorio International Fragrance Company has announced an ambitious plan to establish a new regional hub at the Sharjah Airport International Free Zone (SAIF Zone) in an effort to bolster its expansion efforts across the Middle East markets, reflecting Sharjah’s growing stature as a global economic centre.
The Azerbaijani company signed a Memorandum of Understanding (MoU) with SAIF Zone at the free zone headquarters. The MoU was inked by Saud Salim Al Mazrouei, Director of SAIF Zone, and Mr. Ayaz Ibrahimov, Director of Vittorio, in the presence of distinguished officials and managers from both entities.
Under the MoU, Vittorio will lease 215,000 square feet of land within the free zone to be earmarked for the construction of a state-of-the-art perfume and cosmetics factory under the company’s own brand. Vittorio’s investment in the SAIF Zone is valued at approximately AED18.4 million.
The new facility is expected to achieve a production output of 5-6 million bottles annually, which wi
ll be exported from Sharjah to diverse markets including the Middle East, Africa, Europe, and the United States. Vittorio, founded in 2014, boasts over 800 stores globally and operates factories in Central Asia, exporting to several countries including Kuwait, Belarus, Moldova, Russia, Kyrgyzstan, and Kazakhstan.
Saud Salim Al Mazrouei stressed that the agreement with Vittorio, a global leader in perfume production, signifies increasing confidence in Sharjah’s comprehensive manufacturing ecosystem. This ecosystem plays a pivotal role in advancing the UAE’s industrial sector, in line with the National Strategy for Industry and Advanced Technology “Operation 300bn” and “Make it in the Emirates” initiative.
“Attracting international companies with distinctive capabilities to SAIF Zone is yet another testament to the exceptional facilities and services we offer. We are committed to supporting these companies in achieving their economic objectives and providing the best services to investors, while also harnessi
ng all capabilities to ensure an incubating environment for their investments. This enables them not only to expand and enhance their businesses but also effectively serve customers in both regional and global markets,’ Al Mazrouei added.
For his part, Emin Azizov, a representative of Vittorio, said that the decision to pick SAIF Zone as the company’s regional headquarters was influenced by various factors. Key among these were the conducive business environment that fosters growth, the zone’s modern infrastructure, its esteemed global reputation, top-notch services, and a commitment to supporting investors and safeguarding interests. These elements are expected to significantly boost Vittorio’s competitive edge in the market, improve its financial outcomes, and facilitate seamless access to its target markets.
Source: Emirates News Agency
