Sharjah [UAE], February 3 (ANI/WAM): Sharjah Airport International Free Zone (SAIF Zone) has further solidified its position as an attractive hub for global businesses with the launch of operations by Tokai Optical, a leading Japanese prescription lens manufacturer.
The company has begun production at its newly established factory in the free zone, a significant step in its regional expansion strategy.
The 4,300-square-foot facility was set up earlier this year with an investment exceeding AED 8 million.
With a first stage production capacity reaching over 2000 ophthalmic lenses/day, the factory positions Tokai Optical to meet rising demand in the Middle East and Africa, where the contact lens market is projected to grow from USUSD 10.23 billion in 2024 to USUSD 12.24 billion by 2029, according to Mordor Intelligence.
The move is part of Tokai's plan to boost its investments in the UAE and expand its footprint in a region poised for steady growth, with the market expected to grow at a compound annual rate of 3.66 percent over the next five years (2024-2029).
Saud Salim Al Mazrouei, Director of SAIF Zone, Kurt Leuridan, CEO of Tokai Optics and his Japanese partner Hirokazu Furuzawa, officially visited the facility, before the start of its manufacturing operations.
Several officials were present during the visit, including Ken Okaniwa, Ambassador Extraordinary and Plenipotentiary of Japan to the UAE, Antoine Delcourt, Ambassador of Belgium to the UAE.
During the inauguration, Al Mazrouei, accompanied by several directors, was briefed on the state-of-the-art production lines, advanced facilities, and cutting-edge machinery, including precision measurement systems and advanced lasers. These technologies ensure the production of high-performance medical lenses tailored to the needs of both local and international markets.
He was also briefed on the specialised laboratories within the factory, which leverage advanced technologies and artificial intelligence applications to enhance efficiency and uphold the highest standards of quality and innovation in optical manufacturing.
"The opening of Tokai Optical's new factory is a testament to SAIF Zone's position as a premier hub for global companies and industries," said Al Mazrouei. "Investments like these enrich the emirate's economy by fostering industrial diversity and innovation."
He emphasised that the launch of Tokai Optical, one of the world's top five manufacturers of medical lenses, from Sharjah Airport International Free Zone will significantly contribute to the growth and development of the industrial and medical sectors in the UAE, particularly in Sharjah.
Al Mazrouei stressed that the free zone offers a dynamic business environment and world-class infrastructure, empowering companies across various industrial sectors to expand their operations and enhance their performance.
"We are committed to advancing the objectives of "Operation 300bn, the UAE's industrial strategy", as well as the "Make it in the Emirates" campaign, which are designed to provide an attractive and competitive business landscape for both local and international investors in the industrial sector."
Kurt Leuridan, for his part, highlighted that the company ranks among the top three globally in research and development within its field. He stressed that the commencement of manufacturing operations in SAIF Zone is a pivotal step in the company's expansion strategy. "Through our factory, we aspire to export our products to all GCC countries, as well as the Middle East and Africa," he said.
Leuridan added that the decision to establish operations in SAIF Zone was driven by several key factors, including the free zone's low operating costs, strategic location, advanced logistics infrastructure, and investment-friendly policies. "These incentives make SAIF Zone an ideal base for our regional growth and global ambitions," he stated. (ANI/WAM)
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