Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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Sharjah Investment and Development Authority (Shurooq) has announced that the Sharjah Pavilion at the Annual Investment Meeting (AIM) 2016 has successfully showcased Sharjah’s distinctive investment ventures to government officials, decision-makers and international investors at the leading global economic event, which is organised every year by the UAE Ministry of Economy.
Sharing the pavilion with Shurooq were the Sharjah Chamber of Commerce and Industry (SCCI), Sharjah Economic Development Department (SEDD) and Hamriya Free Zone Authority (HFZA). This year’s participation demonstrated Sharjah’s comprehensive economic vision to conference attendees, and attract significant interest from potential investors for its tailor-made investment and development opportunities, many of which have been designed to help diversify the emirate’s economy.
Tourism investments were among the key topics garnering attention at Sharjah’s pavilion during AIM 2016, which is silver-sponsored by Shurooq, with focus investment areas in Sharjah such as environment, healthcare, transport and logistics and travel and leisure. Investment prospects promoted during the event aligned with the strategic objectives of Sharjah to further the transformation of the emirate’s economy.
Investment Essentials
Visitors to the Sharjah pavilion received details on the exceptional returns they could enjoy as they assisted in the building of a sustainable economy for Sharjah through investing in its array of current and future projects.
Sharjah’s pavilion focused on the emirate’s achievements in establishing various economic ventures, encouraging investment by adopting best standards and developing investment-related infrastructure projects. Key topics highlighted the long term prospects for an economy where businesses grow and expand, the advantages of economic diversity that attract global holders of capital and the attraction and sustaining of responsible investments. Sharjah government entity representatives at the pavilion discussed the very best practices to increase investor confidence in the local business environment and the factors that have led to Sharjah’s transformation into a leading foreign investment destination in the region.
Saud Meqdad Al Suwaidi, Director of the Sharjah FDI office in Shurooq, said; “Our participation in AIM 2016 was by all measures extremely successful. Over the course of the conference’s three days, Sharjah’s pavilion welcomed a diverse genre of investors who were provided with information about Sharjah’s economic structure within the framework of sustainable development and environmental friendliness. They were briefed about the nature of investment in the emirate, its unique features and how it adheres to the highest international standards. The projects which were showcased during the event attracted the attention of numerous potential investors, many of whom expressed their intention to forge productive and mutually beneficial strategic partnerships.”
Mohamed Juma Al Musharrkh, Deputy Director of Sharjah FDI at Shurooq, gave a presentation on the advantages of investing in the emirate, highlighting the 4 key and profitable investment segments in Sharjah.
Official visits
One particular meeting of significance taking place at the Sharjah pavilion during the conference was between Shurooq and the Malaysian International Chamber of Commerce and Industry (MICCI). Attending the event, which was aimed at discussing areas of cooperation were Saud Meqdad Al Suwaidi, Director of Sharjah FDI office at Shurooq, Mohamed Juma Al Musharrkh, Deputy Director of Sharjah FDI at Shurooq, Datuk Wira Jalilah Baba, President of MICCI and members of the chamber.
Marco Arzilli, Minister for Industry, Crafts, Trade, Transport and Technological Research for the Republic of San Marino, also visited Sharjah’s pavilion at the conference and discussed with Mohammed Juma Musharrkh ways to strengthen economic, trade and investment ties between the two entities.
Sharjah’s pavilion at AIM 2016 also received Sudanese Minister of Investment His Excellency Mudesir Abdul-Rahman, who met His Excellency Abdullah Sultan Al Owais, Chairman of SCCI and His Excellency Khalid bin Butti Al Hajri, Director General of SCCI. They explored ways of augmenting joint cooperation between Sharjah and Sudan, the incentives that the emirate provide to investors, the huge investment opportunities for UAE investors in Sudan and the ways to expand the economic relations in progress and trade exchange between the two countries.
“We discussed investment opportunities in Sudan to UAE investors, especially those related to agricultural and livestock production. There is a great deal of promise in these areas because Sudan enjoys vast fertile land that is currently not being properly invested in. Sharjah is particularly interested in agricultural investment in Sudan in order to enhance food security in the UAE,” said H.E. Abdullah Sultan Al Owais, Chairman of SCCI.
Also commenting on SCCI’s participation at this year’s AIM, H.E. Khalid bin Butti Al Hajri said: “Our participation in this year’s AIM 2016 played a key role in developing trade relations with multiple international delegations and pavilions, as well as explore demands and requirements by investors to help align our goals and objectives and serve their commercial and business purposes. We’ve successfully established a solid ground for the take-off of multiple business opportunities in Sharjah.”
Investment Services
Among the Sharjah Pavilion participants, H.E. Saud Salem Al Mazroui, Director of Hamriyah Free Zone and SAIF Zone, commented on the significant role with Hamriya Free Zone played during AIM 2016: “What investors and economists look for when expanding businesses is strategic alliances and geographic locations. At AIM 2016, we’ve successfully reflected on our Hamriya Free Zone’s geographic location and strategic opportunities, seeing that it is commonly as the most interactive and practical free zone in the UAE and the region. The Hamriya Free Zone is strategically located close to multiple sea ports in the UAE, which enables feasible access for imports, exports and re-exports.”
For his part, Abdulaziz Omar Al Midfa, Deputy Director of Government Communication Department in the Sharjah Economic Development Department (SEDD), said; “We exhibited our services that we offer to local, regional and international investors and received strong interest from visitors. Many declared an interest in investing in Sharjah, with the emirate’s real estate sector receiving a particular strong focus.”
Al Midfa called for entrepreneurs and investors who wish to establish their businesses in Sharjah to visit SEDD and learn more about the advantages of each sector before launching their businesses. This step enables SEDD to give them insight into the most lucrative sectors that are commensurate with their aspirations and which are of most benefit to them.
“SEDD offers smart services that allow investors to complete their transactions remotely, whether in the office, at home or anywhere else. The most important smart services provided by SEDD are trade name issuance and licence renewal,” added Al Midfa.
AIM is considered to be one of the world’s most important Foreign Direct Investment (FDI) events. An elite group of government officials, global investors, project managers and decision-makers from 40 countries took part in the 6th edition of the conference. UAE.
AIM 2016 was held under the theme: ‘The New World of FDI, Key Features and Best Practices.’ The conference provided insights into global FDI and shed light on emerging markets which are expected to become leading investment destinations this year and the next.
Image gallery: Shurooq at AIM 2016
(Press Release)
