Invest in Sharjah opens new doors to Far East economies

BUSINESS UAE

SHARJAH, 24th May, 2017 (WAM) -- As part of its ever-increasing drive to attract more foreign business into the UAE, the Sharjah FDI Office, Invest in Sharjah, the promotional arm of the Sharjah Investment and Development Authority, Shurooq, has reinforced the emirates investment advantages at major global events in China.

Participating at the 2017 World Forum for Foreign Direct Investment on 23rd and 24th May in Shanghai, and concluding its participation on Thursday at the China Offshore Summit in Shenzhen, Invest in Sharjah showcased the benefits and incentives of investing in the UAE in general and Sharjah in particular, providing insights and investment opportunities through its "Invest in Sharjah" stand.

The delegation, which included Yonghui Ma and Saif Al Suwaidi, Investment Promotion Managers at Invest in Sharjah, described the events as ideal opportunities to continue investment momentum for the UAE, with estimates last years bilateral trade with China as high as US$60 billion. They pointed to the fact that there are approximately 4,200 Chinese companies operating in the country, including China State Construction, China National Petroleum, HUAWEI, Bank of China, ICBC, China COSCO Shipping and many more.

Sharooq CEO, Marwan Jassim Al Sarkal, said, "With such a dynamic local economy and a variety of investors looking for the best possible overseas options, our delegation enabled Sharjah an excellent impression. We offer perfect free zone, tax-free opportunities with a burgeoning economy of our own and a strategic location that has been a crucial part of commerce with the Far East for centuries."He added, "China had outbound investments totalling US$109 billion in the first quarter of this year, and we have maximised our opportunities to hold Sharjah up as a shining example of wise investment and a highly lucrative partner. This has been an extremely productive event for us."Al Sarkal concluded, "This has obviously been an opportunity for Chinese investors to see what we have to offer in terms of investment potential and also for us to gauge first-hand the confidence in the market. From what we have seen, the future looks extremely positive."