Sharjah gets $1.62 billion FDI in 2017

Times News Service

MUSCAT: Sharjah FDI Office (Invest in Sharjah), the investment promotion arm of the Sharjah government has unveiled that the emirate’s performance in attracting foreign direct investment (FDI) in various economic sectors has seen a sharp increase of 102 per cent between 2016 and 2017, with FDI inflows worth $1.62 billion last year as compared to $808 million in 2016.

One of the key benefits of the process of these enlarged foreign investments has been felt by the job market in Sharjah, which has reported a 174 per cent growth in 2017 with the creation of 2,815 new jobs as compared to 1,025 in 2016. More than 5,000 jobs were created in 2017 from all investments that came into Sharjah, including local, regional and international businesses.

These announcements were made by the Invest in Sharjah CEO, Mohammed Juma’a Al Musharrkh, at a press conference organised on Tuesday, in cooperation with the Sharjah Economic Development Department and under the presence of Mary Hebert, Senior Vice President of Waveteq North America, as part of their participation at the Annual Investment Meeting (AIM 2018), which concludes on Wednesday at the Dubai World Trade Centre.

Invest in Sharjah, along with five other state-run entities in the emirate brought the forum’s exhibitors and global participants up to speed about their individual growth trajectories in 2017.