To be held in the presence of Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority (Shurooq), the Majlis will bring together officials from local and federal governments, diplomatic missions and industry leaders in an open forum to discuss recent reforms and strategies aimed at accelerating the UAE’s economic competitiveness, particularly in context of future prospects in virtual investments.
Invest in Sharjah’s selection of the upcoming edition’s discussion theme is a timely response to the current investment boom in the virtual assets market, which is already exhibiting promising prospects of sky-high returns with the rapid and widespread adoption of cryptocurrencies and non-fungible tokens (NFTs) as well as major advancements in digital infrastructure and encryption technology.
The UAE is set to become a global centre of virtual asset trading. The recently issued Virtual Asset Regulation Law, enforced by the Virtual Asset Regulatory Authority (VARA), has introduced a legal framework to protect investors and regulate the industry with a view to facilitating the long-term integration of digital assets into the economy. As a hub for emerging sectors, Sharjah in particular, exhibits the potential to be an attractive destination for foreign companies operating in the sector.
The previous edition of the Sharjah Economic Ramadan Majlis, held in 2021, focused on the stimulus packages instituted by the UAE government in response to the outbreak of the Covid-19 pandemic. Experts and decision makers from all sectors, including business leaders who derived lessons from the 2008 financial crisis, convened to assess the potential impact of the pandemic on the future of businesses and offer recommendations to mitigate challenges.
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