‘In­vest in Sharjah’ show­cases in KSA to boost econ­omy

The Gulf Today - Business - - UAE -

SHARJAH: At a time when the King­dom of Saudi Ara­bia’s Na­tional Trans­for­ma­tion Plan is well un­der­way to re­duce the na­tion’s pub­lic-sec­tor de­pen­dence by 2030, a high-proile del­e­ga­tion from Sharjah vis­ited two ma­jor cities of the King­dom - Jed­dah and Mecca, on Nov.26 and 27, 2018, to ex­plore prospects for new part­ner­ships in non-oil sec­tors, which will drive re­gional growth.

The Sharjah FDI Ofice (In­vest in Sharjah) led this del­e­ga­tion, tak­ing them on a “Sharjah Road­show in The King­dom of Saudi Ara­bia” through the two cities, and fa­cil­i­tated a se­ries net­work­ing meet­ings with lead­ing Saudi busi­ness­men, govern­ment rep­re­sen­ta­tives, and in­dus­try ex­perts.

Through the two-day road­show, Saudi Ara­bian play­ers took a closer look at Sharjah’s rapidly di­ver­si­fy­ing and in­vestor-friendly econ­omy in ma­jor non-oil sec­tors in­clud­ing tourism, hos­pi­tal­ity, real es­tate, trade, me­dia, health, ed­u­ca­tion, re­new­able en­ergy and SMES. They ex­plored ways to lever­age th­ese op­por­tu­ni­ties and pro­mote and strengthen KSA’S pri­vate sec­tor.

The Sharjah del­e­ga­tion com­prised Aref Ali Al Tabour Al Nuaimi, Con­sul-gen­eral of the UAE in Jed­dah; Mar­wan bin Jas­sim Al Sarkal, Ex­ec­u­tive Chair­man of Sharjah In­vest­ment and De­vel­op­ment Au­thor­ity (Shurooq); Sheikh Saud bin Mo­hammed Al Qasimi, Deputy Head of the In­dus­trial In­vest­ment at the Sharjah Eco­nomic De­vel­op­ment De­part­ment, and Mo­hammed Juma Al Mushar­rkh, CEO of In­vest in Sharjah.

The del­e­ga­tion also in­cluded Ibrahim Al Hashimi, Di­rec­tor of Govern­ment Re­la­tions at Sharjah Me­dia City (Shams), Samer Bukamel, Vice Pres­i­dent of Sales at ARADA, and a num­ber of ofi­cials and rep­re­sen­ta­tives of govern­ment and pri­vate bod­ies in Sharjah.

On the irst day of the road­show, In­vest in Sharjah or­gan­ised a busi­ness meet­ing with the Jed­dah Cham­ber of Com­merce and In­dus­try, and on the sec­ond day, they met with ofi­cials from the Makkah Cham­ber of Com­merce and In­dus­try.

Al Sarkal high­lighted the strong bi­lat­eral re­la­tions the UAE and KSA share, es­pe­cially in the eco­nomic sec­tors. The UAE is the king­dom’s big­gest trade part­ner in the Gulf and greater Arab re­gion and in 2017, the value of trade was ap­prox­i­mately US$23 bil­lion.

He noted, “Our visit to the King­dom sup­ports our in­vest­ment ap­proach, which aims to demon­strate Sharjah’s abil­ity to sup­port the growth of di­versi- ied and long-term for­eign direct in­vest­ments. One of the rea­sons for Sharjah’s sus­tained busi­ness suc­cess is the con­tin­u­ous de­vel­op­ment of new part­ner­ships and ex­pan­sion of the al­ready ex­ist­ing ones based on such ex­changes that help global busi­ness com­mu­ni­ties beneit from lat­est up­dates com­ing out of Sharjah and the UAE. We look for­ward to steadily build­ing on Shurooq’s port­fo­lio of in­fras­truc­tural real es­tate, com­mer­cial, re­tail and tourism projects.”

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