Sharjah24: The Department of Statistics and Community Development (DSCD) in Sharjah has recently launched a foreign investment survey in Sharjah in collaboration with the Federal Competitiveness and Statistics Centre (FCSC).
The key survey aims to monitor the emirate’s economic performance and identify the latest trends, particularly foreign investment in the emirate, through a clear analysis of all entities that qualify as foreign investment.
The survey, which is being implemented for the first time and will be conducted annually, will not only document all forms of foreign investment in the emirate but also collate information on their range of economic activities and countries of origin, among other details. The objective is to provide decision makers in the UAE with a precise, reliable and up-to-date database on foreign investment.
The DSCD will collect data from all facilities with foreign investment. The survey will be conducted via email to the target private sector facilities. The email will supply a link to the survey which includes multiple questions about the company, including the volume of investments, nature of economic activity, nationality of the owner, and shareholder or capital ownership percentage.
His Highness Sheikh Mohammed bin Humaid Al Qasimi, Chairman of DSCD, said: “The survey aligns with DSCD’s objective of providing inclusive data to decision and policy makers as well as stakeholders and researchers. This survey is one of the most important surveys implemented by statistical agencies globally, given its pivotal role in supporting inclusive economic development and diversification of sources of income for the national economy across sectors.”
The DSCD Chairman added that the survey is a key pillar to understanding and assessing the balance of payments and fiscal accounts as well as documenting changes and developments, to serve as a reference tool for government entities in the emirate. He noted that the survey would offers a clear picture of the economy’s realities and engagement with the world, pointing out that it was being implemented in coordination with UAE’s FCSC to establish a reliable database on foreign investment in Sharjah and the UAE.
HE Sheikh Mohammed bin Humaid Al Qasimi emphasised that confidentiality of the data collected would be protected, and would be utilised solely for planning purposes and formulating development policies.
Foreign Direct Investment (FDI) is an investment in which an investor who is a resident in another country, owns a at least 10% of capital share of a Sharjah-based company. On the other hand, Foreign Portfolio Investment (FPI) refers to the purchase of securities and other financial assets in Sharjah by investors from another country. Other foreign investments comprise those made by non-residents, excluding those listed in FDI and FPI, and includes currency and deposits, loans, trade credits and advances.
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