Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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The Sharjah FDI Office (Invest in Sharjah) actively explored economic collaboration and investment synergies between Sharjah and prominent business communities in India during its participation in the 27th edition of the World Investment Conference. Organised by the World Association of Investment Promotion Agencies (WAIPA) from December 11-14 in New Delhi, India, the event served as a platform to highlight promising investment prospects catalysed by Sharjah’s economic journey.
The conference, themed ‘Empowering Investors: IPAs Pioneering Future Growth’, convened decision-makers, industry leaders, and investment promotion agencies from 120 countries. Invest in Sharjah underscored Sharjah’s commitment to fostering sustained growth and diversification across key sectors, emphasising the pivotal role of technology, innovation, and sustainability in shaping a modern and resilient economy.
Led by HE Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah, the delegation consisting of Hamad Al Shamsi and Rajesh Kadam, Regional Support Managers and Salim Al Musharrkh, Senior Executive, Investment Promotion, showcased Sharjah’s economic achievements at an exclusive booth within the conference. The booth witnessed a series of meetings with global decision-makers and entrepreneurs, highlighting Sharjah’s key milestones and promoting the Emirate’s investment opportunities across vital sectors, including as Culture & Tourism, Mobility & Logistics, Health & Wellbeing, GreenTech, Human Capital & Innovation, Advanced Manufacturing, and Agri-food Technology.
HE Mohamed Al Musharrkh, participated in a panel discussion titled “Towards a Coalition of IPAs for Climate” (CIPAC) organised by WAIPA and the World Economic Forum. During the session, the CEO highlighted the crucial role of investment promotion agencies in encouraging and facilitating sustainable FDI that supports the climate. He also discussed the approaches IPAs can adopt to create attractive environment for climate-friendly investments.
Diverse Engagements
On the conference sidelines, Invest in Sharjah in partnership with Federation of Indian Export Organisations (FIEO), organised the ‘Sharjah-India Business Roundtable,’ delving into the historical and future investment and economic relations between Sharjah and India. The roundtable addressed common interests in shaping a sustainable economic future and emphasised the pivotal role of investors in supporting modern business sectors.
The forum commenced with an opening speech by Dr. Ajay Sahai, Director General and CEO of the Federation of Indian Export Organisations (FIEO), emphasizing the strong ties between India and the emirate of Sharjah. HE Mohamed Juma Al Musharrkh delivered a keynote speech, recognizing the robust relationship between India and the UAE, highlighting Sharjah’s efforts in nurturing this bond.
The session also featured a presentation by Hamad Al Shamsi, Regional Support Manager at Invest in Sharjah, outlining the advantages of Sharjah and its key sectors. Following the presentation, Mr. Mohammed Bani Hammad, Director of Business Development and Marketing at Sharjah Research Technology, and Innovation Park (SRTIP), showcased the park’s services and initiatives. The roundtable concluded with an engaging Q&A session.
Since the 1970’s, India stands as one of the largest investors and economic partners of the UAE and Sharjah. Currently, there are 26,527 Indian companies operating in Sharjah and its free zones, with the trade volume between India and Sharjah reaching around AED 3.9 billion in 2022.
Sharjah’s role in shaping global investment trends
Commenting on the participation in the 27th World Investment Conference, Al Musharrkh stressed that Sharjah, mirroring the broader UAE, plays a pivotal role in shaping global investment trends. He highlighted Sharjah’s commitment to sustainable social development standards and its status as one of the world’s most important and fastest-growing economies.
The Invest in Sharjah CEO added: “Our participation introduced Sharjah’s vision and perspective on effective strategies embraced by global economies and investors. We aim to fortify the foundations for growth and resilience, explore opportunities for mutual investments between Sharjah and global business communities, and support the UAE’s strategy in advancing technology and smart solutions”.
“Through our meetings with global business sector leaders, we sensed significant interest in investing and establishing companies in Sharjah. We aspire to attract new investors who bring qualitative value to the overall economic landscape,” he further explained.
The ‘World Investment Conference’, organised by WAIPA since 1995, serves as a vital global platform for investment promotion agencies to discuss economic and social issues impacting global investment flows and strategic matters. The conference not only introduces local economies but also provides a platform to explore opportunities for investment exchange and forge international relationships between investors.
