Wednesday, April 24, 2024

Emirates News Agency – “Sharjah Foreign Direct Investment”: The emirate has improved levels of investment attraction


ABU DHABI, 9th March, 2020 (WAM) — The Sharjah Foreign Direct Investment Office confirmed that “Invest in Sharjah” has reached advanced levels in terms of the emirate’s investment attractiveness, diversity in the choices of local and foreign investors. It includes major traditional fields and modern fields based on ideas, inventions, skills and advanced technologies.

He said the emirate’s sectors have seen convergence and harmony in performance, which boosts confidence between its markets and those from around the world who want to invest their money in a safe and flexible environment.

The office pointed out that seven different sectors achieved high investment results in health care, social welfare, mobility, logistics, culture, tourism, agriculture and food technology, green technology, human capital, innovation and supporting the UAE’s growth rates. Advanced Industries has made the emirate one of the most important incubators for long-term strategic investments in the region, pointing out that this diversity funded by Sharjah and participating in the achievements of all organizations, institutions and companies in the public and private sectors.

This came as the Emirate of Sharjah, represented by its elite economic institutions and organizations, participated in the proceedings of the 12th Session of the Annual Investment Forum 2023 under the patronage of His Highness Sheikh Khalid Bin Mohammed Bin Zayed Al. Nahyan, Crown Prince of Abu Dhabi and Chairman of the Governing Council of the Emirate of Abu Dhabi, will be speaking at the Abu Dhabi National Exhibition Center from 8 to 10 May, “Transformation in Investment: Opportunities for Future Investment Opportunities to Enhance Sustainable” Economic Growth, Diversification and Prosperity.”

Sharjah participated in the annual investment forum through the Sharjah Pavilion organized by the Sharjah Foreign Direct Investment Office “Invest in Sharjah”, within the framework of enhancing the growth and investment environment in the emirate and consolidating long-term partnerships with local and international investors. At the Abu Dhabi National Exhibition Centre, Sharjah Chamber of Commerce and Industry, Sharjah Media City “Shams” and Sharjah Investors Service Office “Sayed” will be among the participating venues.

The Sharjah Pavilion attracted a distinguished audience of senior officials and experts in the fields of trade and economics, including Minister of Foreign Trade His Excellency Dr. Thani bin Ahmad Al Zayoti, Head of the Department of Economics His Excellency Ahmad Jassim Al Zaabi. His Excellency Abdullah Ahmad Al Saleh, Deputy Secretary of the Ministry of Development and Economy, Abu Dhabi, was briefed on the various initiatives and opportunities offered by Sharjah to investors in various strategic sectors, and confirmed the compatibility of the vision. Sharjah Government with the UAE’s vision of integrating the knowledge economy as a strategic axis of comprehensive and sustainable development.

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The activities of the forum included a keynote session titled “Sustainable Investment Opportunities in Foreign Direct Investment” which was attended by the Sharjah Foreign Direct Investment Office “Invest in Sharjah” and a large number of officials, experts and investors from various sectors and countries. Protect the environment.

Participants in the session appreciated the Emirate of Sharjah’s role in adopting the concept of sustainable development within its strategies, policies and investment plans.

Sharjah’s Foreign Direct Investment Office pointed out that the continuous strategy to improve Sharjah’s investment environment is based on several axes, the first of which is diversification in sectors, which provides investors with a wide range of relationships based on the exchange of interests and benefits and facilitating logistics. Formulate regulations and laws in addition to the UAE’s policies and help establish businesses.Strengthen its infrastructure to act as a gateway for investors to regional and international markets.

and “Investment in Sharjah” is the results of strategic diversification policies in sectors and strengthening the structural framework of the economy, revealed in the report released by the Sharjah Foreign Direct Investment Office in 2022 and monitoring the contributions of sectors. The emirate’s GDP for 2020 has demonstrated Sharjah’s success in attracting foreign direct investments worth $220 million (808 million dirhams), while these investment projects have increased by 60 percent in the third and fourth quarters of the same year compared to 2019. And these projects have helped provide 1,117 jobs, reflecting the great confidence foreign investors have in Sharjah despite the pandemic and its economic consequences.

According to the report, the strong growth during the pandemic year was supported by 4 key sectors in the UAE, with the communications and information technology sector at 55.6 per cent, followed by food and agriculture industries at 49.7 per cent, followed by life sciences. 47 percent, followed by distribution and logistics services at 46.2 percent, which reinforces the importance of these sectors for survival in times of crisis.

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The Managing Director of Sharjah Foreign Direct Investment Office, “Invest in Sharjah”, His Excellency Mohammed Juma Al-Mushareq emphasized that today’s investment dialogue is not limited to dealing with challenges and solutions for short-term conditions, but focuses. The key contribution of investment in finding faster ways to build a modern economy with greater flexibility and ability to face rapid economic changes has shown significant growth in modern sectors over the last three years. Formed by the natural development of communities’ needs, this indicates that today’s investment options are based on modern scientific foundations based on data and analyzing data, monitoring trends, and then making appropriate plans.

He said, “In Sharjah, we have learned that entry into any investment is about building a person and empowering him with science and technology to meet the challenges of development. All the evidence confirms that the future economy depends on ideas, skills and people. Science-worthy resources, decline in development and economic The world will soon reach a point where progress is no longer an excuse.” Weak resources, rather the main and direct reason for the decline of science, is the lack of modern technologies. and keeping pace with rapid changes in all sectors.

Al-Mushreq added, “Sharjah therefore considers investing in education and science as a foundation for sustainable investment for future generations and enhancing the emirate’s attractiveness in a modern investment scene that deals with talents and skills in local markets. The emirate’s GDP through investment in education is expected to reach around 3.5 billion dirhams by 2021.” , which is a growth of 4.8 percent.

For his part, His Excellency Dr. Khalid Umar Al Mitfa, Chairman of Sharjah Media City “Shams”, said: “By participating in this forum that brings together regional and international investors and companies, we aim to review the best environment and investment. Offers adopted by the Emirate of Sharjah in various sectors, which is business It has become a leading hub for establishing and doing.It is a leading global investment destination, attracting the most prominent global investment projects and opportunities.

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Al Mitfa stressed that the participation of Sharjah Media City “Shams” in this forum is a valuable opportunity to meet various entrepreneurs, company owners, investors, government representatives and specialized organizations and institutions from different countries of the world to present investment. Expands its business network by reviewing the opportunities offered by “Shams” in the media sector and the services it provides. It is offered to entrepreneurs, thus contributing to the establishment of a new approach to entrepreneurs based on the adoption of innovative ideas that promote creative industries.

For his part, Sharjah Chamber of Commerce and Industry Director General, His Excellency Mohammed Ahmed Amin Al-Awadi, confirmed the Chamber’s participation inside the pavilion of the Sharjah Foreign Direct Investment Office. The annual Investment Forum 2023 in Abu Dhabi is an important participation in this global event, with more than 160 dialogue sessions and the presence of 44 ministers from 170 countries around the world and heads of 18 international organizations.

He added, “For the Chamber, the participation is a great opportunity to introduce the quality services it offers to the local business community, and we held extensive meetings with representatives of private companies looking to invest in the Emirate of Sharjah. Sharjah, Sharjah Center for Export Development, sectoral task forces, Sharjah Excellence Award and quality services it provides for the benefit of the private sector.

For his part, said “Sayed” Marwan Saleh Al-Ajla, director of the Sharjah Center for Investor Services. Through this strategy, it provides a comprehensive picture of the investment benefits it offers, including incentive laws.Management flexibility, advanced and integrated infrastructure and a unique geographic location that guarantees easy access to regional and international markets. and a culture of tolerance and a high standard of living.

He added, “At Sharjah Investor Services Center “Sayed”, we are keen to achieve the vision of the emirate, facilitating quality investments, increasing the attractiveness of the emirate and monitoring the ability of sectors to absorb in front of invested capitals. Building a solid economy means building strong relationships and sustainable partnerships with investors around the world.

Bill Dittman
Bill Dittman
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