Meetings with Sharjah's Leading Industrial Companies

Sharjah Investment and Development Authority (Shurooq) is planning to hold a series of meetings with leading industrial companies and investors in Sharjah, to explore means and mechanisms necessary to deal with obstacles and challenges facing them, come up with recommendations to solve them and study avenues for joint cooperation between both parties.

CEO of Shurooq, Marwan bin Jassim Al Sarkal, said: "The idea of organizing these meetings came after the Authority's first participation in the five-day "Made in Sharjah" exhibition, which was organised by Sharjah Chamber of Commerce and Industry (SCCI), with the participation of more than 300 local industrial companies." He stressed the importance of having a specialized regulatory body to address the problems and concerns of investors in the industrial sector and submit the proper recommendations to solve them for decision makers.

"Supporting investment and overcoming obstacles that may face local and foreign investors are among the key goals Sharjah Investment and Development Authority (Shurooq) was established for. "Made in Sharjah" exhibition offered us a platform to meet with executives and managers of major and small industrial companies in the emirate where we had a chance to introduce them to (Shurooq), its mission, objectives and listen as well to their views, opinions and suggestions concerning the current status of the industrial business in Sharjah." "Sharjah is a home to more than to 1700 industrial establishments including big, medium and small enterprises, which is a clear indication of the emirate's attractive environment that lures investors in the industrial sector. This can be attributed to flexible and encouraging economic laws and legislation, the pre-prepared infrastructure, the emirate's distinguished geographic location and its openness to all world markets, political stability and security in the UAE, and many other stimulating factors," Al Sarkal added.

"Shurooq will study the industrial sector's requirements and submit recommendations to authorities concerned, in order to enhance Sharjah's industrial sector, attract more investors and help the already existing companies to develop their business," he said. Affirming the significance of such meetings, he said these meetings are important to enhance coordination and cooperation between all parties involved in, so as to be aware with the latest developments on the sector and take the necessary procedures on the right time, to be able to achieve the higher national interest for all. The meetings will also help overcome obstacles facing companies, and praised the quality of participation from owners of companies.

For the past four decades, Sharjah has been a focal point in the UAE's industrial sector as well as the region. The total production of Sharjah manufacturing sector reached more than DH20bn and its total exports reached around DH3bn. Incentives given to Sharjah's local industrial sector also led to the rise in the number of industrial establishments to 1700 including big, medium and small enterprises. The manufacturing sector contributes 20% to Sharjah's GDP in 2011.

Shurooq was established in 2009 with the aim of achieving social, cultural, environmental and economic development on the basis of Sharjah's distinct Arab and Islamic identity, and to encourage investment by adopting the best international standards in providing quality services that help attract investors from the region and around the world. Shurooq's key mission is to provide facilities and incentives to help overcome obstacles facing investment activities in the emirate, evaluate tourism and investment related infrastructure projects, and lay down the necessary plans to complete such projects.