Heads of government departments and authorities are to meet in Sharjah on Sunday to discuss how the emirate can best meet the needs of business investors. Organised by Sharjah Investment and Development Authority (Shurooq) under the patronage of His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, the Sharjah Forum will focus on future investment opportunities and challenges.
“We are pleased to organise this forum which brings together an elite group of decision makers in the emirate of Sharjah, whose organisations have contributed to boosting the development process in the Emirate,” explained Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Shurooq. Shurooq hopes that the Sharjah Forum will help identify opportunities, obstacles and solutions to develop the emirate’s investment environment and leverage government resources to grow the economy.
Sharjah currently has the second fastest growing economy in the region, after Dubai, with 8 percent gross domestic product growth during 2013. It economy is also unique in the GCC, with no single sector contributing more than 20% of its total GDP. The emirate’s GDP surpassed AED 70 billion (US$ 19b) in 2012 and is expected to exceed AED 80 billion (US$ 21.8b) in 2014.
Shurooq was established in 2009 with the aim of achieving social, cultural, environmental and economic development consistent with Sharjah’s distinctive Arab and Islamic identity. Since then, the authority has identified transport and logistics, healthcare, environment, and tourism and leisure as strategic growth areas for the economy and opportunities for inward foreign direct investment (FDI).
The Sharjah Forum will review ways to develop Sharjah’s investment climate, offer competitive incentives and facilities to corporate and individual investors, and explore how to leverage the emirate’s geographical location, investment offerings and its competitiveness to attract more FDI.
‘Sharjah Forum: Future Opportunities and Challenges’, which takes place in Al Jawaher Reception and Convention Centre in Sharjah, will have three consecutive sessions: ‘Investment Opportunities in Sharjah’; ‘Correlating with Decision Makers’ and ‘Building an Attractive Investment Environment Together’.
Shurooq drives a year-round calendar of trade and investment initiatives for Sharjah globally and was recently named FDI Agency of the Year in the MENA region by The European Magazine’s Global Banking and Finance Awards. Shurooq is also hosting the 2015 World Forum for Foreign Direct Investment, from 8-10 February.