The Sharjah Investment and Development Authority (Shurooq) recently welcomed a delegation from Invest Hong Kong (InvestHK), the department to promote foreign direct investment for the Hong Kong SAR government.
The visit aimed at exploring ways in which to activate an MoU signed between Shurooq and Invest Hong Kong in 2013, under the terms of which both parties had agreed to forge a strategic investment partnership to increase foreign investment and business activities in their respective regions.
The delegation, led by Charles Ng, Associate Director-General of Investment Promotion, Invest Hong Kong, The Government of the Hong Kong Special Administrative Region, and including Enoch Fung, Head of Market Development (Monetary Management), Hong Kong Monetary Authority, Hong Kong Special Administrative Region and Carrie Chan, Consultant, Invest Hong Kong in MENA Region, was welcomed by HE Marwan bin Jaasim Al Sarkal, CEO of the Sharjah Investment and Development Auhtority (Shurooq), as well as Ahmad Obaid Al Qaseer, COO of Shurooq, Elie Armaly, Shurooq Director of Business Development, Thomas Joseph, Senior Investment Promotion Executive, Shurooq, and Shurooq Investment Promotion Executives Marwan Alichla and Diana Yonghui Ma, in addition to representatives from various government entities such as; Sharjah Chamber of Commerce and Industry, Sharjah Hamriya Freezone, Sharjah Airport International Freezone and Sharjah Healthcare City.
Commenting on the visit, Shurooq CEO, HE Marwan Al Sarkal said, “We are extremely pleased to once again welcome our counterparts from InvestHK to Sharjah as we take this next step in activating our partnership. There is immense potential for mutually beneficial cooperation between investors and organisations in Sharjah and Hong Kong and the meeting was an ideal opportunity to discuss a number of possible joint ventures and investment opportunities, as well as to familiarise the delegation from Hong Kong with the most viable growth sectors in Sharjah.”
Al Sarkal went on to emphasise that “The meeting also served as a springboard to facilitate increased communication and networking opportunities between the business communities in Sharjah and Hong Kong, remarking that the two destinations were ideally suited to do business with each other.” “Hong Kong and Sharjah are similar in many ways – both cities act as regional hubs, with their excellent infrastructure, highly strategic geographical locations, as well as their cutting edge logistics capabilities making them ideal locations from which to base international business operations. We are therefore looking forward to the very real benefits that investors from both Sharjah and Hong Kong will be able to reap due to our increased cooperation,” he added.
Under the terms of the MoU Shurooq and InvestHK have undertaken to share experience in promoting and attracting foreign investment as well as to facilitate company referrals, with the aim of increasing business activity in Sharjah, the UAE, and in Hong Kong. The MoU furthermore aims to support inward investments referred by the partner agency with the set-up or expansion of their businesses.
Established in July 2000, InvestHK’s vision is to strengthen Hong Kong’s status as the leading international business location in Asia, with a mission to attract and retain foreign direct investment which is of strategic importance to the economic development of Hong Kong. InvestHK work with overseas and Mainland entrepreneurs, SMEs and multinationals that wish to set up an office – or expand their existing business – in Hong Kong.
Shurooq was established in 2009 with the aim of achieving social, cultural, environmental and economic development on the basis of Sharjah’s distinct Arab and Islamic identity, and to encourage investment 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 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.