Strategies for ease of doing business in Sharjah highlighted in FDI forum

Business Bureau, Gulf Today

After the first day of discussions at the Sharjah FDI Forum 2019 offered the UAE outlook on future strategies for boosting the nation’s foreign investment environment, the second day zoomed in on Sharjah’s capabilities to attract FDI in sectors like industry, media, publishing, among others.

The first panel discussion titled ‘Sharjah Government – Investing in Sharjah’, led by Hussain Mohammed Al Mahmoudi, CEO Sharjah Research, Technology and Innovation Park (SRTIP); Mohammed Juma Al Musharrkh, CEO, Sharjah FDI Office (Invest In Sharjah); Salim Omar Salim, Director, Sharjah Publishing City Free Zone (SPCFZ); Shihab Ahmed Alhammadi, Director, Sharjah Media City Free Zone Authority (Shams); Abdul Aziz Mohammed Al Shattaf, Assistant Director General of Sharjah Chamber of Commerce and Industry (SCCI); and, Colonel Abdullah Saleh Al Naqbi, Deputy Director of Entry and Residence Permits, updated the audience on the new direction and strategy across sectors to improve ease of doing business in Sharjah.

Al Mahmoudi said that SRTIP was a platform for active collaboration and dialogue between private, academic and government entities.“The Park has been attracting investments in education and information in digital, industrial design, water, etc. All these are innovation-based sectors and we believe that driving such investments into Sharjah will add value to our economy and drive sustainable development. Our strategy for SRTIP is not just to attract new businesses. One of our most important pillars is to empower community to be able to adopt and practice innovation.”

He talked about a strategic partnership SRTIP entered with the UK government, in addition to launching a report based on a benchmarking study of 12 ‘innovative cities’ to learn how Sharjah can be compared to them and improve its innovation practices. He also spoke of several new initiatives the Park has launched and partnerships it has struck, namely, an initiative to promote the role of women entrepreneurs in technology, joining forces with a 3D printing company, and the ongoing development of a regional virtual reality (VR) and augmented reality (AG) centre, which will be launched soon.

Al Musharrkh was up next and emphasised the important role the Sharjah FDI Forum has played over the past five years highlighting new investment opportunities in the emirate, putting it on the global map of investments. “Sharjah’s strategic location, pro-investor legislations and services, robust infrastructure are all key enablers of the thousands of overseas businesses who have a regional base here. Latest FDI statistics for Sharjah reveal a 40 percent growth.We wanted an event to take this message to the region’s and the world’s investors. We have really grown – something evidenced by the 1,500 participants attending the forum this year.”

Elaborating on his announcement of the Sharjah Investors Services Center ‘Saeed’ at the forum on Monday, Al Musharrkh said that the centre’s promise of churning out business licences within 60 minutes at this one-window service for investors is being made possible through several partnerships they continue to forge with various government departments.

“We signed an MoU with Shams under which a license will be issued for the free zone by us. You wouldn’t need to go to Shams to do it. This is happening in Sharjah for the first time. We also have a proposal for the Entry and Residence Permits to rope in their golden visa service at Saeed. We have signed an agreement with SCCI bringing their services under our roof. All this within 60 minutes; we hope this will really boost customer and investor happiness in Sharjah.”  

Reminiscing about a very successful Sharjah International Book Fair 2019, Salim Omar Salim noted that SPCFZ was an outcome of Sharjah’s cultural movement, just like the 38-year book fair.

Sharjah Publishing City has every service necessary to facilitate publishers and other businesses from around the world. We signed several deals at the book fair are expecting at least 17 new companies to be set up at SPCFZ by the end of the year. We are creating a foundation for publishers to grow and move globally, and they need an infrastructure too just like any other business”, he said.  

Mentioning the range of world-class services offered by the City, Salim highlighted the significant partnership they recently signed with the world’s top print-on-demand facility, Ingram. “

Describing Shams’ unique ‘hosting’ environment for media sector SMEs, Alhammadi highlighted that the free zone is equipped with a new business centre that has everything businesses need, “from lockers to high speed Internet, and everything in between”, to grow. “We are coming up with three new buildings at Shams and moving steadily towards digitising all our services. We are working on creating a digital platform in Sharjah that will be accessible to all. An individual can start a TV channel and broadcast their show just through this platform. There are restrictions, of course, which we are working out with NMC,” he said.

Mohammed Al Shattaf turned the spotlight on SCCI, saying:“Over two decades, we have been focusing on boosting the industry sector. Sharjah is home to over 2,500 factories, and 70 percent of our economy is supported by the industries sector. We would like to attract more technology- and knowledge-based businesses to the emirate to expand this sector.” Comparing the growth in Sharjah’s exports in the past two years, he noted they have gone up from Dhs60 to Dhs65 billion, with Saudi Arabia and Oman being top GCC buyers.