Industry leaders discuss path to an equitable, sustainable future

The Sharjah Investment Forum 2023 (SIF) hosted a panel session titled “Redefining Economies, Making Significant Strides For a Better Future” to engage in a thought-provoking discussion on the steps necessary to create a more equitable and sustainable future. The discussion explored the importance of investment in advanced technology and innovation, the role of research and development, financing liquidity, empowering the workforce through education, and the five key sectors for a self-resilient economy.

The panel included a distinguished lineup of industry leaders and experts comprised of Omar Suwaina, Undersecretary of the Ministry of Industry and Advanced Technology (UAE), Hussein Al Mahmoudi, CEO of Sharjah Research Technology and Innovation Park, Ahmed Al Naqbi, CEO of Emirates Development Bank, Ms. Ranju Anand, Vice President of GEMS Education, and was moderated by May Ben Khadra, Business Anchor and Economic Analyst.

The panellists engaged in a lively discussion on the subject of redefining economies and the steps necessary to create a more equitable and sustainable future. Omar Suwaina stressed the importance of investment in advanced technology and innovation in driving economic growth, along with the “UAE Industry 4.0” initiative, the 4th Industrial Revolution Readiness Index that assesses the digital maturity of processes, technologies and organisation of a manufacturing. He also highlighted their partnership with Emirates Development Bank and the Dhs700 million investment into SMEs, large caps operating in Industrial, Tech, Healthcare, Food Security, and Infrastructure Sectors.  

Hussein Al Mahmoudi emphasised the role of research and development in shaping the future of economies and although the nation is regarded as number one in the world when it comes to innovation he noted that there is still not enough investment from the private sector and although there is progress, he urged that the mindset must change within Multinational entities.

Ahmed Al Naqbi noted that financing liquidity is the life-blood of the economy and discussed the five key sectors that have been derived from the government’s target to become self-resilient in light of recent challenges around the globe. These sectors of focus are Manufacturing; Advanced Technology & Industrialisation; Healthcare, through locally producing pharmaceuticals, hospital supplies and equipment; Food Security & Agro-tech, which they are very bullish on even though many other countries and institutions shy away from the industry; and Infrastructure, specifically focusing on the economic output of the country and incentivised economic zones.

Ms. Ranju Anand also brought her valuable experience and insights to the conversation, highlighting the critical significance of empowering the workforce through education to improve efficiency as well as the importance of educators keeping up with the rapid advancement of the youth and how education is a continuing journey that has a scope beyond the classroom.

Over 40 exhibitors: More than 40 entities are showcasing their investment opportunities at the 6th edition of the Sharjah Investment Forum (SIF) 2023 taking place at Al Jawaher Convention Centre on 8th and 9th February.

SIF 2023 has garnered global attention with participants from various countries including Mauritius, Senegal and Ghana exhibiting potential investment opportunities.

The UAE Ministry of Industry and Advanced Technology drew interest on day one of SIF 2023 with its innovative digital platform aimed to revolutionise companies and businesses set-ups both locally and internationally. The Sharjah Chamber of Commerce and Industry put its services on display, highlighting its role in supporting small and medium enterprises. With offices spread throughout Sharjah, the Chamber serves as a mediator between businesses and the relevant authorities, while working closely with the Ministry of Industry and Advanced Technology to provide innovative solutions and support the establishment of industrial companies. The Chamber also aims to create a communication platform between companies seeking investment in the UAE and potential financing partners, thereby boosting the business sector and attracting more investment opportunities.

The Sharjah Digital Office exhibited its most prominent services to enrich the experience of investors and help them complete their transactions in the fastest time and with the least possible effort, while the Real Estate Registration Department introduces the forum audience to its most prominent newly developed laws, including the private property law, the movement of the real estate market, and the most active regions in terms of investment and the most investing nationalities.

The Beeah Group exhibited environmental consultancy services and partnering possibilities, along with details on other services provided by the leading eco-friendly activities in Sharjah. The Sharjah Sustainability City also drew the spotlight with their miniature infrastructure model which is expected to be one of the key projects in harnessing the green economy of the emirate.