Sharjah FDI Expected to Break AED 1 Billion Barrier by End Of 2017
The Sharjah FDI Office (Invest in Sharjah), the FDI office operating under the Government of Sharjah, has announced the emirate’s total foreign direct investment is expected to exceed a record AED 1 billion dirhams by the end of the year – an anticipated growth of 15% on 2016.
The figures are a massive testament to Sharjah’s focus on encouraging overseas businesses to establish and expand their assets in the emirate, and emphasise the overall attraction of its unique prospects. The news is particularly impressive to economists and entrepreneurs who also witnessed record FDI figures of AED 912 million last year.
The announcement came during Invest in Sharjah’s participation in the seventh edition of the Annual Investment Meeting (AIM 2017), which was inaugurated yesterday (Sunday) by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, at Dubai World Trade Centre.
Sharjah’s internationally recognised business-friendly environment indicates it is increasingly becoming a natural choice for investors looking to break into a Middle East market or increase their presence, and the trend from previous investments from major financial traders looks to be continuing.
Invest in Sharjah is participating in the three-day event along with four other leading government entities and departments – Sharjah Chamber of Commerce and Industry (SCCI), Sharjah Economic Development Department (SEDD), Hamriya Free Zone Authority (HFZA) and Sharjah Environment Company (Bee’ah).
Organised by the Ministry of Economy under the theme ‘International Investment, Path to Competitiveness & Development', Invest in Sharjah is spearheading the pavilion, which continues to welcome high-level attention from international CEO’s, investors and FDI officials across all industries, pointing to even more interest from abroad.
Speaking on the successful integration process displayed in the Sharjah pavilion during the AIM exhibition, HE Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), said: “The SCCI’s participation, among the elite government entities in Sharjah under one pavilion, played an integral role in reflecting our efforts and visions to integrate our services and goals in promoting Sharjah as a unique investment destination world-wide. This integration has successfully attracted investments from international establishments, and has enabled us to position Sharjah as a central trade hub for global FDI.”
Al Owais added: “The exhibition enabled us a strategic access to meeting and greeting high level officials, ministers and delegation leaders across various businesses and investment opportunities, as well as explored new horizons in creating partnerships between UAE-based business owners and investors with international leaders and businesses.”
Working hand-in-hand with the other entities to showcase the emirate’s economic landscape and the opportunities which have made it such a prominent force on the Middle East business stage, Invest in Sharjah also stressed the importance of moving towards the concept of sustainable development to ensure the future of the coming generations which will be achieved by attracting foreign investments.
Representatives from all the organisations at the Sharjah pavilion informed visitors to the stand of the chain of major incentives on offer and the feasibility of establishing businesses in the emirate. These are particularly relevant in sectors such as environment and sustainability, healthcare, transport and logistics and tourism and travel, where the demand exceeds supply of products and services in the local market.