Sharjah showcases FDI competitiveness at 13th AIM Congress

May 08, 2024 / 7:12 PM
Sharjah 24: During their participation in the 13th edition of AIM Congress in Abu Dhabi, a delegation representing the emirate participated in the Sharjah pavilion to showcase the emirate’s commitment to fostering responsible investment, sustainable economic growth, as well as strategies to attract FDI to local markets. Held from May 7 to 9 under the theme “Adapting to a Shifting Investment Landscape: Harnessing New Potential for Global Economic Development,” the world’s leading investment platform brought together leading voices from both the public and private sectors.
The emirate’s delegation, spearheaded by the Sharjah FDI Office (Invest in Sharjah), included Sharjah Investors Services Center (SAEED), the Sharjah Economic Development Department (SEDD), the Sharjah Chamber of Commerce and Industry (SCCI), and Sharjah Media City (Shams). The delegation also participated in two panel discussions addressing the sustainable development aspects of investment, as well as innovative promotional mechanisms for FDI agencies to reach global business communities.

A leading destination for international investments

Hamad Ali Abdalla Al Mahmoud, Chairman of the Sharjah Economic Development Department (SEDD), emphasized that the Department's participation in the thirteenth session of the "AIM Congress'' underscores its commitment to engaging in various economic exhibitions and forums that would contribute to enhancing the economy in the Emirate. This involvement aims to stimulate, encourage, and attract investment across diverse economic sectors. Additionally, he noted that the participation forms an integral part of SEDD's strategic plan, which focuses on developing economic sectors and actively promoting and supporting them through various means. Furthermore, he added that this initiative is a continuation of SEDD's efforts to attract investors, as such events provide excellent platforms for businessmen and companies to convene, fostering sustainable economic development in Sharjah.

Dr. Khalid Omar Al Midfa, the Chairman of Sharjah Media City (Shams), said: “The global markets have witnessed a surge in activity in recent years, which has reflected positively on the Emirate of Sharjah, making it an attractive destination for investments, especially in free zones.

“Sharjah benefits from the robust infrastructure and laws that have earned the trust of investors.”

Al Midfa noted that free zones play a crucial role in the internal economic growth of the emirate, attributing this to the directives and vision of the wise leadership, which have boosted trade activities and attracted investments.

He highlighted Sharjah's ideal investment climate, economic stability, and continuous support for the national economy, as well as its hosting of numerous qualitative and distinctive projects.

“Shams' support for this gathering is an ideal opportunity to showcase the investment opportunities offered by the emirate, contributing to enhancing the UAE's and Sharjah's position in attracting investments,” said Al Midfa.

Mohammad Ahmed Amin Al Awadi, Director-General of Sharjah Chamber of Commerce, and Industry (SCCI), stated that the AIM Congress has become a key international economic event and a pivotal platform for fostering global cooperation.

Reflecting on the event, Al Awadi emphasised the Sharjah Chamber's dedication to showcasing its vibrant investment environment and incentives, underscoring the advantages for investors and business leaders that have established it as a hub for international investment.

He emphasised that the Sharjah Chamber aimed for a productive and impactful presence at the forum. It planned to showcase the quality and range of exceptional services it offers to the business community, alongside its role in enhancing their enterprises through affiliated entities such as the Sharjah Exports Development Center, Expo Centre Sharjah, Sharjah International Commercial Arbitration Centre, and various sectoral business groups.

“Through such entities, we provide comprehensive support to companies and the private sector, boosting foreign investment by organizing international trade missions, and participating in local and global economic events and forums,” Al Awadi added.

Mohamed Juma Al Musharrkh, the CEO of Invest in Sharjah, highlighted Invest in Sharjah’s dedication to participating in international events that discuss the latest developments in global investment and their implications for the GCC and broader regional markets. He noted that the dynamics of foreign investment are constantly evolving, making specialised events such as the AIM Congress essential for understanding new trends and formulating strategies to enhance the competitiveness of local markets for foreign stakeholders.

“According to the ‘fDi Markets’ data, Sharjah ranked as the fifth-fastest growing city globally in attracting foreign direct investment (FDI) in 2023. This success is a testament to the collaborative efforts of all the institutions within the emirate, underscoring the promising future for investment and business in Sharjah. To safeguard and build upon this achievement, continued efforts and the development of further plans and strategies are crucial. Invest in Sharjah’s participation in the AIM Congress is aimed at enhancing our relationships and networks, showcasing the unique investment opportunities available to investors and entrepreneurs across Sharjah’s diverse economic sectors and markets,” Al Musharrkh stated.

FDI’s role in climate change and digital transformation
Throughout the 3-day international event, the Sharjah delegation played an active role in the main panel discussions. Marwan Alichla, the Director of Investment Promotion & Support at Invest in Sharjah, was a featured speaker in the panel session titled “Leveraging FDI for Climate Change Mitigation: Escalating Sustainable Investments in Developing Countries.” This panel deliberated on utilising foreign direct investment as an important tool to drive climate change mitigation efforts in developing nations, and exploring how FDI can be strategically directed towards sustainable investments, particularly in green technologies and climate-resilient projects.

In the second session, “Digital Marketing Tactics for Small to Medium-Sized IPAs to Attract FDI,” Hamad Al Shamsi, Regional Investment Promotion Manager, at the Sharjah FDI Office, focused on practical tactics for leveraging low-cost digital marketing solutions to enhance the visibility of Investment Promotion Agencies (IPAs) and attract FDI.

This year’s AIM Congress garnered substantial participation from a diverse array of prominent individuals, including over 100 decision makers. This formed part of their impressive lineup featuring 900 speakers, with the three-day event attracting over 12,000 participants from 175 countries.

May 08, 2024 / 7:12 PM

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