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Lalu Samuel, Chairman & Managing Director, Kingston Holdings has commended the leadership of Sharjah for the swift approval of the emirate’s largest-ever general budget by H.H. Dr. Sheikh Sultan bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah.
“The 2021 general budget is a real investment in the emirate’s achievements and gains as it will definitely create a competitive business environment that attracts more local and foreign businesses and investments. It is also a true embodiment of the emirate’s plans tailored to establish and develop a comprehensive economy, and achieve an optimal balance among the emirate’s main sectors,” Samuel said.
He added that the 33.6 billion budget, which increased 12 per cent compared to the final 2020 budget, provides all economic sectors with a solid ground to continue their march of growth and prosperity, and also boosts investors’ confidence in the emirate's markets thanks to the strength of the economy and flexibility of its development plans and programs.
Samuel lauded the wise distribution of the budgets, which takes into account supporting the economic climate in the Emirate of Sharjah by allocating 29 per cent of it for developing the economic sector while 43 per cent of the budget is allocated for developing and improving infrastructure in the emirate, which means that the opportunities made available to Sharjah investors will undoubtedly be greater, more massive and diversified.
© Press Release 2020
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