Sharjah unveils future investment map – News

The seven vibrant sectors, including Health and Wellness, Mobility and Logistics, Culture and Tourism, Agri-Food Technology, GreenTech, Human Capital and Innovation, and Advanced Manufacturing, have already positioned Sharjah as an attractive destination for FDI.



Published: Tue 6 Sep 2022 17:52

Last update: Tue 6 Sep 2022 17:53

Home to more than 35 percent of the UAE’s manufacturing industries, Sharjah has identified seven high-potential sectors that would drive qualitative and sustainable strategic investments in the emirate while strengthening its competitiveness in the global economic and investment landscape.

The seven vibrant sectors, including Health and Wellness, Mobility and Logistics, Culture and Tourism, Agri-Food Technology, GreenTech, Human Capital and Innovation, and Advanced Manufacturing, have already positioned Sharjah as an attractive destination for FDI, according to “FDI Future Sector Trends and Potential” published by the Sharjah FDI Office (Invest in Sharjah).

Ahmed Obaid Al Qaseer, Acting Executive Director of the Sharjah Investment and Development Authority, said that Sharjah hosts many investment opportunities in various fields, especially in the new economy, advanced industries, tourism, agriculture, innovation and other sectors.  — Photo supplied

Ahmed Obaid Al Qaseer, Acting Executive Director of the Sharjah Investment and Development Authority, said that Sharjah hosts many investment opportunities in various fields, especially in the new economy, advanced industries, tourism, agriculture, innovation and other sectors. — photo provided

“Today, Sharjah hosts many investment opportunities in various fields, especially in the new economy, advanced industries, tourism, agriculture, innovation and other sectors. With advanced infrastructure and agile legislation, the emirate has become a prime destination for business and a capital of industry in the region. We look forward to welcoming new businesses to Sharjah who will undoubtedly benefit from the accelerated growth and continued support of creative projects in the emirate and the UAE,” said Ahmed Obaid Al Qaseer, Acting Executive Director of the Development Authority. and Sharjah Investments.

Mohamed Juma Al Musharrkh, CEO of Sharjah FDI Office, said that in the post-Covid world, technology investments are outpacing all other sectors. Sharjah’s opening of the region’s first 3D printing shop indicates its competitiveness in advanced manufacturing.

Mohamed Juma Al Musharrkh, CEO of the Sharjah FDI Office, said investments in technology are outpacing all other sectors.  — Photo supplied

Mohamed Juma Al Musharrkh, CEO of the Sharjah FDI Office, said investments in technology are outpacing all other sectors. — Photo supplied

“Our team provides investors with reliable market information and analysis, as well as sharing valuable information on each case based on their extensive experience in the field, helping investors make sound and confident decisions. We also have the Sharjah Investor Services Center, a one-stop shop for investors to set up their businesses and complete government transactions in Sharjah,” said Al Musharrkh.

The business-friendly environment of the UAE and Sharjah, which is supported by modern legislation, future-proof infrastructure, a highly talented workforce and more than 60,000 SMEs and start-ups remain key factors in increasing their attractiveness. for FDI, according to the report.

Sharjah, in particular, has enhanced its attractiveness as a gateway to the GCC and the wider region, thanks to six specialized free zones and 33 industrial zones, strategic location, and global connectivity through sea and air routes and ports. in both the Gulf of Oman and the Arabian Gulf.

Sharjah overcame the challenges posed by the pandemic by successfully attracting Dh808 million worth of FDI in 2021, reflecting a 60% growth in FDI projects in the third and fourth quarters compared to 2019, leading to creating 1,117 new jobs, according to the report. The strong growth recorded by Sharjah during Covid-19 is a reflection of the high performance of the ICT sector, which recorded a growth of 55.6%, followed by Food and Agricultural Industries with 49.7%, and the sector of Life Sciences, which grew by 47%. percent, and finally, Logistics and Distribution, which registered a growth of 46.2 percent.

With an annual investment of AED5.5 billion in education and research, Sharjah boasts a talent-rich ecosystem of world-class universities and leading innovation hubs. The report noted that with a 5.0 percent annual growth forecast in the UAE education sector through 2024, several investment opportunities are emerging in the early childhood learning and child care specialties along with the expansion of Nursery and K-12 offerings in Sharjah.

The report noted that Sharjah has been the preferred gateway to the region for those seeking shorter access routes from the Far East and South Asia, Australia. and Africa The emirate is full of FDI opportunities in the Mobility and Logistics sector, especially after receiving a legislative boost of 43 percent of its 2021 annual budget earmarked for the development and improvement of its infrastructure facilities, including roads.

The report forecasts that investments in Sharjah’s culture, media and tourism sectors will reach AED74.5 billion by 2027, with the emirate becoming the destination of choice for travelers from around the world with multi-million dollar development projects and government support. . Sharjah is expected to be a major contributor to the UAE’s $1.1 billion agricultural market projected for 2024.

Sharjah’s potential for green technology investment is one of the highest in the region, with the UAE accounting for 19 percent of the GCC’s solid waste generation. The UAE has a myriad of investment opportunities in the clean energy sector. Furthermore, the UAE solar power market growth forecast between 2022 and 2025 is 15 percent.

Sharjah’s potential to benefit from FDI in the health and wellness sector is immense given that the UAE’s health spending per capita in 2019 was Dh6,035 and the growth projection for the nation’s pharmaceutical sector is 7.3% p.a. to reach AED 17.26 billion in 2019. 2024. The UAE’s status as one of the top ten global healthcare destinations according to the Medical Tourism Index has an additional positive impact.

In the field of advanced manufacturing, the report revealed that the UAE’s additive manufacturing sector is projected to reach Dh2.2 billion by 2025. Sharjah aims to maximize efficiency gains through the automation of manufacturing operations. manufacturing using advanced technologies such as IoT, robotics, drones and others. as well as developing 3D printing capabilities for manufacturing spare parts and components for industries, allowing these projects to tap into the growing GCC market estimated at Dh37.8bn by 2023, according to the report.

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