The Sharjah Investment and Development Authority (Shurooq) has concluded its participation in the 8th China Enterprises Outbound Investment Conference, which was held from 16-17 April in Beijing. Shurooq’s participation was part of its nine-day roadshow in China.
The emirate of Sharjah attracted the attention of over 1,500 participants, including CEOs, executives of representatives of leading Chinese companies and businessmen as well as over 30 investment corporations from across the world.
The delegation which included, alongside Shurooq’s officials, a representative from Sharjah Environment Company – Bee’ah, held a series of intensive meetings throughout the two days of the conference, during which they presented the Emirate’s investment potential in vibrant and thriving sectors such as tourism, logistics, renewable energy and healthcare among other sectors.
Shurooq is being represented by a delegation led by HE Marwan bin Jassim Al Sarkal, CEO of the Sharjah Investment and Development Authority (Shurooq), which includes Elie Armaly Director of Business Development of Shurooq, Mohammed Al Musharrakh, Head of Investment Promotion, Fahd Shehail, Managing Director – Waste Collection at Bee’ah, and Yonghui MA, Investment Promotion Executive at Shurooq.
The two-day investment conference, aimed at enhancing Chinese enterprises’ competitiveness and encouraging their outbound investment in accordance with China’s Go Global Strategy, featured an opening ceremony, plenary session, parallel and sector-based seminars, exhibition stands, and a networking dinner.
Shurooq’s delegation presented the investment potential in the UAE, and particularly in Sharjah, as well as the investment and business opportunities available for foreign companies seeking to invest and tap into the country’s strategic location as a major business and financial hub in the region and the world.
On the first day of the conference, HE Marwan bin Jassim Al Sarkal, CEO of Shurooq, participated in a Parallel Session titled, ‘Investment Opportunities in Silk Road Countries’, during which he stressed that Sharjah is striving through the efforts of various authorities to strengthen economic cooperation with all countries of the world, including East Asian countries, with a special focus on China. He added that Shurooq’s delegation is presenting and discussing the available opportunities in Sharjah with various investment bodies in China.
Al Sarkal referred to the long and successful shared business history that has brought benefit and progress to both countries and to the eagerness of both countries’ leaders to further strengthen this relationship, adding: “The Chinese business community has consistently acted as a positive driver of business growth within the UAE and Sharjah, where there are currently more than 4,000 Chinese companies operating in the UAE across a diverse range of sectors.”
“We are looking forward to further building on this already strong foundation and will be meeting with a wide range of companies and organisations during our tour in China, to explore mutually beneficial avenues of cooperation,” Shurooq CEO added.
Al Sarkal went on to say: “We are here to highlight what Sharjah can offer to potential investors…such as sophisticated infrastructure and a diverse and resilient business climate, supported with our government’s approach to offer all the necessary facilities and incentives and provide a strong yet flexible legislative framework to meet investment requirements, as well as to develop a solid, safe, and investor-friendly environment in the emirate of Sharjah.
Yonghui MA, Investment Promotion Executive at Shurooq, delivered a detailed presentation, in which she outlined Sharjah’s numerous and varied investment, business, and cultural offerings, and highlighted a number of tourism projects that have been developed by Shurooq to stimulate the local economy and meet the requirements of growth in the Emirate while also providing foreign investors with unique opportunities to capitalise on the phenomenal growth being witnessed in all sectors in Sharjah.
On the sidelines of the conference, Shurooq’s delegation held over 25 meetings with representatives of government and private corporations at the authority’s stand, where they discussed investment opportunities and answered the investors’ questions about the Emirate’s facilities and incentives offered to new businesses in different investment sectors. The delegation received positive feedback as many Chinese investment bodies and companies showed their interest in boosting cooperation with Sharjah’s entities in various sectors, such as renewable energy and tourism, as well as in entering into trade and investment partnerships with the Emirate’s public sector.
On the 4th day of the roadshow, Fahd Ali Shehail, Managing Director-Waste Collection at Bee’ah, visited the headquarters of the China Resources Recycling Association, where he held a meeting with the Association’s management and discussed opportunities and possible joint ventures in the environment and recycling sector. Chinese’s officials showed keen interest in the available opportunities in this sector in Sharjah.
Sharjah-Tianjin Investment Seminar
As part of their roadshow in China, Shurooq organised Sharjah-Tianjin Investment Seminar in Tianjin on 18th of April. Tianjin is one of the major industrial and trading cities in China and is a hub city for international shipping and logistics, as it has the 4th largest port in the world.
The meeting was attended by HE Dong Libin, Vice Chairman of the China Council for the Promotion of International Trade-Tianjin and over 100 representatives from a number of foreign trade companies and authorities and business leaders in the city. The emirate of Sharjah, represented by Sharjah Chamber of Commerce and Industry (SCCI), signed a Memorandum of Understanding (MoU) with the CCPIT-Tianjin in 2010.
In his speech at the beginning of the meeting, HE Marwan bin Jassim Al Sarkal praised the economic relationships between Sharjah and China. He underlined that the goal of the seminar was not only to provide a deeper insight into the vibrant economic sectors in Sharjah, but also to open channels of communication with Chinese business communities to identify the needs and aspirations of Chinese firms that desire to invest in Sharjah and tap into the vast available opportunities.
The delegation highlighted the numerous investment opportunities that Sharjah has to offer, as well as the facilities and incentives offered by the Sharjah government to foreign investors. The delegation also showcased a number of key projects undertaken by Shurooq to stimulate the Emirate’s economy, such as Al Majaz Waterfront, Al Qasba, the Heart of Sharjah, Al Bait Hotel, Flag Island, the Kalba-Eco-tourism project, Al Jabal Resort-The Chedi Khorfakkan, and the newly opened Al Montazah Park.
Established in 2009, Shurooq strives to encourage investment in the Emirate of Sharjah by adopting the best international standards in providing quality services that help attract investors from the region and 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.
In recognition of its overall accomplishments, Shurooq was named The Banking Awards 2013 – FDI Agency of the Year in the MENA region, in The European’s Global Banking and Finance Awards.
Saturday, April 19- 2014 @ 14:24 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.