Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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Sharjah Investment and Development Authority (Shurooq) has concluded its participation in the 8th Arab-German Business Forum, held from June 8-10 2015, in Berlin.
The Forum addressed current and prospective Arab-German cooperation in the fields of infrastructure, security technologies, industrialization, free zones, financial services, EPC projects, construction and housing, and the role of women in business. Organized by the Arab-German Chamber of Commerce and Industry, it brought together more than 600 leading experts and decision-makers from the fields of business, politics and science.
HE Marwan bin Jassim Al Sarkal, CEO of Shurooq delivered a presentation at the forum highlighting construction and housing developments under the topic of Sustainable Urban Solutions in Sharjah. Key talking points included the regions recent progress towards the goal of sustainable living, the success of sustainable policy developments, and the need for greater sustainable urban planning in-line with future goals. Examples were highlighted including the Kalba Eco-Tourism Project, an environmentally friendly, mixed-use development on the east coast of Sharjah, and the Mleiha Eco-Tourism Project, a joint venture between the Sharjah Investment and Development Authority (Shurooq) and Sharjah Environment and Protected Areas Authority to help protect the area’s ecological and archaeological areas and share them with tourists and future generations.
On the occasion of the Forum, Shurooq concluded a Memorandum of Understanding to strengthen commercial ties and develop reciprocal cooperation with Berlin Partner for Business and Technology, the economic development corporation and technology transfer agency of the government of Berlin.
The MoU, signed on June 9th, 2015, in front of an audience of 400 dignitaries, encompasses 11 articles laying out the ways in which the two parties will work together. It specifies that they shall endeavor to encourage and promote investment and commercial cooperation among their business communities, the exchange of business delegations, and the flow of reciprocal economic information, statistics and trade data to encourage bilateral trade and joint projects.
It also encourages exchanges of publications related to the two countries’ respective business communities, mutual participation in trade fairs and conferences, the elimination of obstacles that could hinder the growth of investment and commercial activity, and the exchange of technical expertise. It will remain in effect until both or either party requests its termination.
Dignataries at the signing included UAE ambassador to the federal republic of Germany HE Juma Mubarak al Junaibi, Arab-German Chamber of Commerce and Industry (Ghorfa) secretary general Abdulaziz Al-Mikhlafi, Ghorfa president Peter Ramsauer and UAE under-secretary of the ministry of foreign trade HE Juma Al Kait.
Speaking in response to the agreement of the MoU, HE Marwan bin Jassim Al Sarkal, CEO of Shurooq, said: “The Arab-German Business Forum was a distinctive opportunity for Shurooq to build new relationships and strengthen our ties with Europe’s largest economy. We are very pleased to have established a strong partnership going forward with Berlin Partner for Business and Technology. Germany’s technology industry is renowned throughout the world, and can have a prominent impact on Sharjah’s burgeoning sector. We will work closely together to bolster our commercial ties and develop reciprocal cooperation for the mutual benefit of the business communities in Sharjah and Germany”.
Berlin Partner for Business and Technology managing director Stefan Franzke said: “We look forward to working closely with Shurooq over the coming months and years to explore a wide range of projects in Sharjah across a variety of sectors. Berlin and Sharjah are both centres of excellence for business and we believe together we can unlock new, mutually advantageous investment and commercial opportunities.”
The UAE and Germany enjoy a strong and prosperous relationship going back almost 45 years. Today Germany is the UAE’s seventh largest trade provider. More than 1,000 German companies operate in the UAE, alongside 12,000 residents who live in the country.
Shurooq’s key mission is to provide facilities and incentives to help overcome obstacles facing investment activities in Sharjah, evaluate investment-related infrastructure projects, and lay down the necessary plans to complete such projects.
In recognition of its overall accomplishments, Shurooq was named The Banking Awards 2013 – and 2014 FDI Agency of the Year in the MENA region at the European’s Global Banking and Finance Awards. Sharjah Investment and Development Authority (Shurooq) was named as Top Investment Promotion Agency at the 2015 Best to Invest Award by Site Selection Magazine
(Press Release)
