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Sharjah FDI Forum 2018 unveils key details on the UAE’s competitiveness and efforts to attract investors from abroad

• FDI inflows into Sharjah in 2017 created 2,815 jobs
• Moody’s “A3” credit rating for the Sharjah Government highlights the economy’s stability and endurance

What is the purpose of the Sharjah FDI Forum? What can we expect to hear from guests and speakers at its fourth edition next week?

Thecore objective of the Sharjah FDI Forum is to support the UAE’s strategy to launch initiatives that will maintain and increase the inflow of foreign direct investmentsinto our economy.The forum brings together FDI experts and leaders of local, regional and international businesses in an open dialogue,who look into ways of tackling existing and emerging industry challenges.

This year, the forum is held under the theme, ‘Shaping the Future of Economies’,and focuses on current changing FDI trends amidfinancial turbulence being felt globally. The event identifies FDIas a key enabler of sustainable development in countries. Additionally, we will delve into discussing ways to harness new and emerging technologies in shaping future economies. Furthermore, the forum highlightsthe UAE’srole in developingthe FDI sector.

This event,organised bythe Sharjah FDI Office (Invest in Sharjah) serves as a platform to inform foreign investors about the plethora of investment opportunities in Sharjah’s and the UAE’s rapidly diversifying economy.

To this end, the forum’s speaker list has been put together to represent the leading expertise and foresight of business leaders and decision makers from public and private entities. Through several discussions and debates, they will be sharing a wealth of information and offer new insights into local and global markets.

How much did Sharjah attract in FDIs last year?

Last year, Sharjah attracted US$ 1.63 billion, recording a staggering 102% annual growth, compared to US$ 8.3 billion (AED 2.95 billion) in 2016. This massive feat helped create 2,815 new jobs in 2017, compared to 1,025 in 2016. These figures are a clear indication of the unwavering commitment of the local government to diversify and support sources of economic growth.

Last year, real-estate, manufacturing, and construction sectors recorded the bulk of growth, and in the next phase of diversification and economic development, we will be focusing on attracting investments in ICT and media sectors. We are estimating FDI growth to bump up another 20% this year.

Moody’s Investor Service issued the Sharjah Government and A3 rating, affirming the emirate’s economic outlook as ‘stable’ less than a year ago. How does Sharjah continue to maintain an investment-friendly climate?

This rating, backed by the UAE sovereign credit rating of “Aa2”, is a strong indicator of the sound and growing investment market of Sharjah, that has a relatively high GDP, low debt levels and government budget deficit – all projecting a resilient and profitable local economy.

The strongest reason for this is Sharjah’s leading economic diversity profile. It is one of the richest in the UAE and the region.

To put this in numbers, the oil sector contributed only3%to Sharjah’s GDP in 2017, while the industrial sector reached 17%, realestate and retail stood at 10%. This diversity and minimal oil dependence means that foreign investors have business opportunities in a wide array sectors to tap into.

Sharjah has always stressed on the ‘development’ aspect of investment. How can investors achieve harmony between profitability and development?

Foreign investmentswon’tbe successful in generating RoI consistently unless they were aligned with the sustainable development goalsof the economy they are investing in. To achieve this, we push investors, especially large corporations to take into consideration the environmental and social development and sustainability goals of the country when taking investment decisions.

In Sharjah, we continue our work to update our infrastructure as well aslegislations to be as receptive to FDI inflows as possible, and have our goals aligned with the UAE’s vision of turning FDI sector into a catalyst for achieving the UN Sustainable Development Goals set for 2030.

Strengthening Public-Private Partnerships can have a massiveimpact on the local community. It is key to integrating development and profitability goals.

Organised in 2015, under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah, the Sharjah Foreign Direct Investment (FDI) Forum is one of the world-leading economic and financial forums, and the largest FDI and investment forum of its kind across MENA.

The Fourth edition, organised by the Sharjah FDI Office (Invest in Sharjah), under the support of the Ministry of Economy, will take place on 10 – 11 December 2018, at Al Jawaher Reception and Convention Centre in Sharjah with the theme “Shaping the Future of Economies.”

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About Invest in Sharjah:
Established in 2016, the Sharjah FDI Office (Invest in Sharjah) is the investment promotion agency of the Emirate of Sharjah, launched by the Sharjah Investment and Development Authority (Shurooq). It also functions as a key facilitator to investors, servicing them with a 360-degree informative and physical support, allowing them to fully understand processes, investment advantages and insights on key sectors that fit their business profiles in Sharjah.

As one of the emirate’s key economic growth drivers, Invest in Sharjah is dedicated to the continued transformation and economic diversification of the emirate, and is committed to guiding foreign investors to the unique opportunities and potentials that Sharjah offers to global markets. Its mission is to work collectively with the emirate’s public and private sectors, to guide investors towards strategic and personalised opportunities, promoting collaborations for bilateral growth and update investors on Sharjah’s unique business culture, modern facilities, latest regulations and policies as well as business platforms and free zones that incentivise new prospects.

Invest in Sharjah also works in close partnerships with numerous state entities in the emirate, and has hosted numerous business roundtables and seminars in Sharjah and across the world, attracting unique investments and future ventures with business leaders from The Americas, Europe, Middle East, Gulf Region, Asia and the wider Asia-Pacific Region.

Invest in Sharjah has organised and participated in numerous leading business and investment conferences and seminar in Sharjah and the rest of the world. It is responsible for organising / hosting the Euromoney Conference Sharjah, the Sharjah FDI Forum, the Sharjah Ramadan Majlis and a number of high-level businesses conferences.

For more information, please visit www.investinsharjah.ae or you can contact +971 6 556 0444. For the latest news on Invest in Sharjah on social media, follow @investinsharjah on Twitter and Instagram.