Third Sharjah FDI Forum Slated in September

Press release

Published August 13th, 2017 - 07:17 GMT

Mohammed Juma Al Musharrakh, Director of Invest in Sharjah

The third edition of the Sharjah FDI Forum is scheduled to take place on Sept.19-20 under the patronage of Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah.

Organized by Sharjah Investment and Development Authority (Shurooq) and Sharjah FDI Office (Invest in Sharjah), the foreign investment promotion arm at the Authority, the two-day event will be held at Al Jawaher Reception & Convention Centre in Sharjah.

Themed “The 4th Industrial Revolution”, the Sharjah FDI Form 2017 - which is being conducted in a strategic partnership with CNBC Arabia - will bring together a galaxy of renowned decision makers, senior global businessmen and highly regarded experts from the public and private sectors, to review FDI prospects for the region.

Featuring a comprehensive program of keynote addresses, industry-led discussion panels and presentations from top officials, the forum program will facilitate the exchange of knowledge and expertise, examine the current and future economic situation in the region and assess the outlook for its investment prospects. It will highlight a range of topics concerned with the future of the global economy, including the FDI reality, the Fourth Industrial Revolution and the impact of new technology, such as ‘blockchain.’

According to the World Investment Report 2017 released by the UN Conference on Trade and Development (UNCTAD), FDI inflows into the UAE grew by 2.2% in 2016 to $9 billion from $8.8 billion in 2015. The UAE is ranked 12th on the list of top countries for FDI during the period from 2017 through 2019. The UAE has managed to achieve this growth in spite of a 1.6% decline in FDI inflows in 2016 on the global level and a 2% fall in Western Asia.

The report also shows that the cumulative FDIs to the UAE jumped to $117.9 billion by the end of 2016 from $109 billion at the end of 2015, a growth rate of 8.2%, with the UAE-bound FDI accounting for 26.5 percent of total FDI to GCC by the end of 2016.

Mohammed Juma Al Musharrakh, Director of Invest in Sharjah, said: “The Sharjah FDI Forum is consistent with the strategic goals of Shurooq that aim to attract investors to Sharjah and to draw attention to its advantages as being a key regional business destination. We look forward to using the platform to highlight the opportunities in the emirate and to promote its investment-friendly environment.”

“The forum will allow participants a great opportunity to exchange views and expertise about a number of important issues relating to today’s global economy. Among the topics that will be debated are the impact of modern technology on education and the role of small enterprises in changing economic models. Other topics include the introduction of Value Added Tax (VAT) in the UAE and Sharjah’s future approaches to diversification,” Al Musharrakh added.

Mohammed Burhan, CEO of CNBC Arabia, said: “Since its inception, CNBC Arabia has been a leading broadcast reporter on the economic events in the UAE and the wider region. It’s consistently high standard of reportage and analysis has ensured that it enjoys a reputed stature in the media arena.”

“Given the importance of the Sharjah FDI Forum, we have decided to enter into a strategic partnership with Shurooq and Invest in Sharjah to ensure complete coverage of its third edition. We are keen to highlight the economic achievements of the UAE, with a specific focus on Sharjah, and we hope this partnership will continue beyond the two-day event itself,” he added.

Source: Saudi Gazette

Background Information

Shurooq

Over the years, Sharjah has grown into a centre for arts and culture as well as a leading industrial hub. The emirate takes a holistic and balanced approach to economic and social development by creating human-centric experiences in conjunction with the development of physical assets and infrastructure.

Sharjah’s cultural scene has flourished under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council, Ruler of Sharjah. In 1998 Sharjah was designated as UNESCO’s “Cultural Capital of the Arab World” and today it is home to nearly a quarter of all of the U.A.E.’s museums and to popular events such as the Sharjah Biennial and the Sharjah International Book Fair.