Sharjah FDI Office showcases new, emerging investment opportunities

A key highlight of the UAE government’s inaugural Investopia global investment summit, which was organised at the world Government Summit (WGS 2022) taking place in the Dubai Exhibition centre at Expo 2020 Dubai recently.

A dialogue led by the Sharjah FDI Office (Invest in Sharjah) to inform the global business and investment communities about future opportunities in the emirate, especially since Covid-19 has been transforming economies and paving the way for new sectors.

Titled ‘Investment Opportunities In Sharjah’, the panel discussion was led by senior representatives of the emirate’s government departments, including Sheikh Fahim Al Qasimi, Chairman of the Department of Government Relations (DGR), Sharjah; Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah; Dr Abdulaziz Al Muhairi, Director General, Sharjah Health Authority; Hussain Al Mahmoudi, CEO of the Sharjah Research, Technology and Innovation (SRTI) Park; and Shihab Alhammadi, Director of the Sharjah Media City (Shams).

Moderated by Matthew Stephenson, Policy and Community Lead, International Trade and Investment at the World Economic Forum (WEF), the discussion focused on the key pillars of digitisation, resiliency and sustainability that are supporting Sharjah’s future growth across sectors.

The speakers also turned the spotlight on the emirate’s competitive advantages and investor-friendly environment, and opined that healthcare, transport & logistics, agritech and fintech are among key sectors that will drive next generation of foreign direct investments in Sharjah.

Explaining the role of cultural diplomacy in forging business partnerships with likeminded nations and cities, Sheikh Fahim Al Qasimi, Chairman of the Department of Government Relations (DGR), Sharjah, noted: “In the world we live in, megatrends of digitisation, sustainability, etc., are just abstracts, and when you start drilling down into what that means for a government, you realise that there is a lot of hard work that needs to follow. We need to understand economically, environmentally and socially, how every bit of policy we issue will be received by both the nationals and residents of Sharjah, and how it will be seen by partners – whether investors or countries we work with. At DGR, we look at forming partnerships through projects that help us promote cultural and human values important for Sharjah. For instance, when we worked on a project with the Vatican Museum, a key priority for us was to promote interfaith tolerance. So, we developed the first big cross-faith exhibition that was ever unveiled in a third country – in Australia in 2018.”

“At DGR, we go out and find cities in which we know our investments into building relations we know will give us economic, social and environmental returns,” he added.

 Mohamed Juma Al Musharrkh told the summit’s attendees: “This special session on Sharjah within the Investopia Summit confirms the emirate’s position as an attractive destination for foreign and local investments. For 50 years now, the emirate has played a leading role in amplifying the UAE’s global competitiveness as one of the most preferred investment destinations in the world for FDI. Sharjah is one of the most diversified emirates in the UAE and the region. Approximately 96 per cent of economic activity in the emirate now comes from non-oil sectors. This strong and diversified economy with six specialised free zones, flexible investment options and a world-class infrastructure and services is today propelling Sharjah’s readiness for future growth”.

“The world has witnessed unprecedented changes in the last two years, and in order to continue building Sharjah’s resiliency by offering new, relevant opportunities to businesses and investors, healthcare, tourism, agriculture, technology, and entrepreneurship have been identified by Invest in Sharjah as key sectors for attracting future FDI.