Sharjah: The Sharjah Investment and Development Authority (Shurooq) in collaboration with the Sharjah Chamber of Commerce and Industry (SCCI) and Sharjah FDI Office (Invest in Sharjah) are organising the seventh edition of the Sharjah Economic Ramadan Majlis on Wednesday, April 21, at Sharjah Research Technology and Innovation Park (SRTIP).

Held under the title, ‘The role of the New Industrial Strategy and Commercial Companies Law in developing the national economy and enhancing its competitiveness,’ the Majlis will bring together a host of government representatives, diplomats, investors and prominent business leaders to discuss the impact of the new economic legislations that have come into effect recently in response to mitigate the impact of Covid-19, stimulate the local economy and bolster its competitiveness.

The discussion will focus on The UAE Industrial Strategy “Operation 300bn”  - a 10-year comprehensive strategy that aims to empower and expand the industrial sector to become the driving force of a sustainable national economy, increasing its contribution to the GDP from the current AED133 billion to AED300 billion by 2031.

Speakers will also shed light on the Unified Industrial Brand Identity, launched under the slogan, 'Make it in the Emirates', that seeks to promote the diversification of the national industrial base and position the country as an incubator of innovation and creativity by enabling local and global investors and innovators to benefit from the facilities and incentives offered by the UAE’s industrial sector. 

The agenda includes a discussion on the amended legislation granting Emirati passports to investors, entrepreneurs, creative talents and researchers, and its impact on investments. Speakers will analyse the intended impact of the golden visa and the multiple-entry tourist visa for all nationalities in bolstering the tourism sector’s competitiveness to support the economy.

The discussions will also centre on the newly amended law that allows foreign investors 100 per cent ownership of businesses without the need for an Emirati sponsor.

Emphasising the significance of the 7th edition of the Sharjah Economic Ramadan Majlis, HE Marwan Bin Jassim Al Sarkal, Executive Chairman of Shurooq, affirmed that the UAE is keeping pace with economic, investment and technological developments at regional and international levels through an agile legislative system that is steering forward the economy's competitiveness level. He pointed out that the Majlis would discuss the immediate and long-term impacts of the newly announced economic policies and legislations in the country and their role in fostering an environment that enables businesses to grow, and advance the development of locally made industrial products.

HE Mohammad Ahmed Amin Al Awadi, SCCI Director General, said the 2021 edition of the Majlis will highlight UAE's strategic initiatives designed to stimulate the economy and recover from the current global economic crisis which will see the country's resurgence as an industrial powerhouse over the coming decade and boost stability and increase its appeal for foreign direct investments.

Commenting on the event, Mohammad Juma Al Musharrkh, CEO of Invest in Sharjah, said: “Together with representatives from the public and private sectors, we are keen on discussing the impact of the UAE’s economic regulations unveiled in recent months that are advancing the national economic system and enhancing its competitiveness. The newly amended legislations are attracting increased foreign direct investments, especially since the country has made significant strides in recovery following its broad-scale pandemic response, furthering its robustness and expansion in vital sectors.”

The sixth edition of the Sharjah Economic Ramadan Majlis was held virtually via Zoom platform in May 2020 under the theme, 'Impact of the UAE Stimulus Plan on Economic Stability and Growth'. It convened a leading state representatives, prominent business professionals, investors and the media.

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About the Sharjah Investment and Development Authority (Shurooq):

The Sharjah Investment and Development Authority (Shurooq) is currently leading a diversified portfolio of infrastructure projects, with a total value of more than AED 10 billion (USD 2 billion) and covering a total land space of more than 12.4 million sqm across Sharjah’s western, central and eastern regions.

Shurooq’s portfolio of projects reflects its mission to enhance long-term investment prospects offered by Sharjah to businesses, SMEs and startups across a wide range of sectors. Furthering this goal, the authority has been driving Sharjah’s Public Private Partnerships (PPPs) through joint ventures with key local and global brands. 

Through each of its focus sectors, Shurooq takes the responsibility of driving investments and creating new partnerships that effectively boost Sharjah’s economy and FDI growth, working closely in partnership with numerous state and federal entities contributing Sharjah and UAE’s economic standing and development.

About the Sharjah FDI Office (Invest in Sharjah):

Established in 2016, the Sharjah FDI Office (Invest in Sharjah) is the investment promotions agency of the Emirate of Sharjah, launched by the Sharjah Investment and Development Authority (Shurooq). It also functions as a key facilitator to investors, servicing them with a 360-degree informative and physical support, allowing them to fully understand processes, investment advantages and insights on key sectors that fit their business profiles in Sharjah.

As one of the emirate’s key economic growth drivers, Invest in Sharjah is dedicated to the continued transformation and economic diversification of the emirate, and is committed to guiding foreign investors to the unique opportunities and potentials that Sharjah offers to global markets. Its mission is to work collectively with the emirate’s public and private sectors, to guide investors towards strategic and personalised opportunities, promoting collaborations for bilateral growth and update investors on Sharjah’s unique business culture, modern facilities, latest regulations and policies as well as business platforms and free zones that incentivise new prospects.

Invest in Sharjah also works in close partnerships with numerous state entities in the emirate, and has hosted numerous business roundtables and seminars in Sharjah and across the world, attracting unique investments and future ventures with business leaders from The Americas, Europe, Middle East, Gulf Region, Asia and the wider Asia-Pacific Region. 

Invest in Sharjah has organised and participated in numerous leading business and investment conferences and seminar in Sharjah and the rest of the world. It is responsible for organising / hosting the Euromoney Conference Sharjah, the Sharjah FDI Forum, the Sharjah Ramadan Majlis and a number of high-level businesses conferences. 

For any press inquiries please contact:
Mousa Nimer
National Network Communications (NNCPR)
m.nimer@nncpr.com 

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© Press Release 2021

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