Economy

The UAE’s Comprehensive Economic Agreement with Cambodia has officially entered into force, promising to enhance trade flows, create opportunities for strategic investment, and accelerate economic diversification for both countries. The agreement will do so through the removal or reduction of tariffs on more than 92% of product lines, eliminating unnecessary barriers to trade, and improving market access for service exports. ...

The Sharjah Chamber of Commerce and Industry (SCCI) has announced a series of significant achievements made over the course of the past year (2023), underscoring its multifaceted endeavours in bolstering the business community. In 2023, the Chamber saw a notable increase in its total registered memberships, reaching 72,187, with 7,160 new members joining—a growth rate of 10 pertcent from the ...

As the Sharjah Real Estate Exhibition (ACRES 2024), one of the UAE’s premier gathering for the real estate industry, concluded closing deals that surpassed AED 1.4 billion, one of the exhibition’s participants – the Sharjah Investment and Development Authority (Shurooq) – came out as a top performer, contributing over AED 177 million to the total sales made on during the ...

Serving as a global hub and a one-stop business centre committed to creating an ecosystem to cater to the vibrant business landscape in Sharjah, the Sharjah Publishing City Free Zone (SPC Free Zone) has unveiled its latest offering — the “Instant License Service.” This unique and comprehensive instant business licence has been developed to redefine the process of establishing businesses ...

The United Arab Emirates (UAE) has secured its position as the world’s second-highest recipient of greenfield Foreign Direct Investment (FDI) announcements in 2023, following closely behind the United States. The revelation comes from the latest report by the United Nations Conference on Trade and Development (UNCTAD). The report sheds light on the UAE’s remarkable 28 percent increase in greenfield FDI announcements in ...

Foreign Direct Investment (FDI) serves as the lifeblood for the growth of numerous economies, playing a pivotal role in propelling the development of diverse sectors in the Middle East, particularly those extending beyond the confines of the oil industry. Sharjah in particular is rapidly establishing itself as a burgeoning hub for FDI, a testament to its strategic appeal in the ...

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 ...

Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center which will enhance delivery services for customers in the Northern Emirates. In line with HFZA’s vision to bolster economic growth and innovation in the region, the agreement supports Amazon UAE’s commitment to investing in its presence across the country. Once launched, the new ...

Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of the Executive Council, and Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of the Executive Council, attended the meeting. Over the course of the meeting, attendees heard updates on development initiatives spanning a wide range of industries ...

From surviving to thriving in the post-COVID-19 world, small and medium enterprises (SMEs) in the UAE are optimistic about the rest of 2023. These are the findings of the second edition of the Mastercard Eastern Europe, Middle East, and Africa (EEMEA) SME Confidence Index. The inaugural SME Confidence Index delved into the impact of the pandemic on SMEs across sectors, ...