Second FDI Forum to Spotlight Attractive Economic...

Sharjah has secured a distinct economic and investment reputation, emerging as a key engine of growth and an attractive economic destination not only in the UAE, but in the region as a whole. The Emirate today hosts more than 16 per cent of the total small and medium enterprises in the country, exceeding 45,000 in number, said HE Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority (Shurooq).

This came in her remarks ahead of the second Sharjah FDI Forum, titled Sharjah FDI: The Gateway to the Middle East, North Africa and South Asia, being held from September 28-29, 2016 at Al Jawaher Reception and Convention Centre in Sharjah.

The Sharjah FDI Forum 2016 is taking place with the support of His Highness Sheikh Dr Sultan bin Mohamed Al Qasimi, Supreme Council Member and Ruler of Sharjah, in association with the Financial Times newspaper and fDi Magazine. The forum is the largest global foreign direct investment (FDI) event in the Middle East and North Africa.

HE Sheikha Bodour bint Sultan Al Qasimi said that the second edition of the Sharjah FDI Forum is aimed at showcasing the unique economic advantage and strength of the Emirate, highlighting the attractive investment opportunities offered by Sharjah in various vital sectors, including tourism, leisure, environmental development, healthcare, transportation and logistics.

Economic Diversity is Sharjah's Strength

Sharjah's economy is based on diversity and balance. No sector in the Emirate contributes to more than 20 per cent of the GDP, which ensures greater economic stability and dramatically lowers risk factors, HE Sheikha Bodour bint Sultan Al Qasimi stressed.

Sharjah has not only developed its existing traditional sectors, but has also launched new sectors that never existed before in the region, such as environmental development, in which it has proven its excellence in no time. Moreover, the Emirate has launched new, specialised sectors within traditional ones, including eco-tourism, which is another sector that was first introduced in the region by Sharjah, she added.

Strength of the UAE Economy

Underlining the importance of the Sharjah FDI forum for the UAE and Sharjah, HE Sheikha Bodour bint Sultan Al Qasimi said: Today, the UAE enjoys a prominent place on the map of international investment and has come to top other Arab countries in attracting foreign direct investment within a relatively short period of time. During the last year alone, the country attracted nearly $11 billion (about AED40 billion) worth of foreign direct investments, which accounted for 46 per cent of the total attracted by all GCC countries combined.

This shows the success of our wise leadership's vision to diversify the economy away from oil, as well as the success of the investment incentives offered by the country to attract international investors, she added.

Why Sharjah FDI Forum?

Underscoring the strategic relevance of the second Sharjah FDI Forum, the Chairperson of Shurooq said that the event comes at a critical point in the country's and the region's history. She said that the second Sharjah FDI Forum will see the participation of more than 300 top experts, economists and policy makers who would confront and debate the key opportunities and challenges offered by Sharjah, the UAE and the region at large.

This edition has acquired increased importance due to the rapid economic changes experienced by the world today, including the decline in growth forecasts for many countries, low prices of oil and basic food commodities, fluctuations in interest rates and falling bond yields, not to mention the exit of UK from the European Union. These changes need to be considered by investors who are looking to discover global economic trends to make sound investment decisions, said HE Sheikha Bodour bint Sultan Al Qasimi.

LINK:	http://www.sharjahmedia.ae/en/media-centre/news/27/9/2016/second-fdi-f...
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