Shurooq eyes int’l investors for Sharjah

Sharjah / WAM

Promoting Sharjah’s array of investment opportunities to Germany’s business community was the basis of a recent visit to Berlin which was successfully concluded by the Sharjah Investment and Development Authority (Shurooq) on Friday. During their visit, Shurooq was at the German capital as it organised the Sharjah-Berlin Seminar, while on the second day, it participated at the 19th Arab-German Business Forum.
A high-level delegation comprising senior executives and CEOs from Sharjah’s government bodies and private sector corporations took part in the twin business events with the aim of introducing the emirate’s business-friendly environment and opportunities to German investors. The activity formed part of Sharjah’s ongoing efforts to promote and highlight its investment potential to international investors.
The Sharjah-Berlin Seminar, organised by Shurooq in association with the German – Arab Chamber of Industry and Commerce (AHK), the German-Arab Friendship Association (DAFG) and the Berlin Partner for Business and Technology, hosted the Sharjah delegation which was headed by Sheikh Fahim bin Sultan Al Qasimi, Chairman of the Department of Government Relations in Sharjah, which witnessed a high-level participation of Marwan bin Jassim Al Sarkal, CEO of Shurooq, Hussain Al Mahmoudi, CEO at AUS Enterprises, Fahad Ali Shehail, Chief Development Officer at Bee’ah, Sara Al Madani, Board Member of the Sharjah Chamber of Commerce and Industry (SCCI) and Mohammed Ahmed Amin, Assistant Director-General for Communication and Business at SCCI.
Joining alongside the Sharjah delegation was Mohamed Salem Al Falahi, the second secretary and head of the department of student affairs at the UAE Embassy in Berlin. Participating along the UAE delegation also included Felix Neugart, CEO at AHK, Dr. Stefan Franzke, CEO at Berlin Partner for Business and Technology and Bjoern Hinrichs, Managing Director at the German-Arab Friendship Association (DAFG).
The one-day business seminar, which brought together more than 50 German investors and businesspersons, saw Sharjah’s delegates and the invited attendees reviewing ways that they could work together to strengthen their existing avenues of cooperation and partnership. Among the issues under the spotlight were how to attract more German companies into Sharjah and how the emirate should be seen as not only a rewarding destination in its own right, but also as an influential entry gateway to the wider Gulf region. The seminar also included a panel discussion titled “Investment Opportunities in Sharjah”, hosting a series of panelists who were among the UAE delegation and included Marwan Bin Jassim Al Sarkal, Hussain Al Mahmoudi and Fahad Ali Shehail.
Sheikh Fahim bin Sultan Al Qasimi, Chairman of the Department of Government Relations in Sharjah, inaugurated the business seminar with his welcome speech, and expressed his belief in the fundamental role the Sharjah and German relationship is playing in strategically growing both their economies.
“Relationships between Sharjah and Germany are built on 50-years’ worth of bilateral history. Both entities share a significant number of common values, which position this relationship as ideal and world-leading for both economies. These values include their investments in promoting cultural tourism and businesses that create cross-culture ecosystems. These strategies have assisted in elevating both country’s positions in global markets,” he said.
“To-date, Sharjah attracts 40,000 German tourists, which reflects the emirate’s ability to provide international tourists with a unique and authentic experience on cultural, archaeological and ecological tourism. It also confirms Sharjah’s position in European markets as one of the Middle East’s most strategic and diversified tourism and investment destinations,” he added.
Sheikh Fahim also explained: “Sharjah has been instrumental in developing its tourism sector and diversifying it to create new segments to provide unique experiences, which German tourists have taken great note of. To-date, Sharjah has successfully diversified its tourism sector, providing tourists with unique options, such as cultural tourism, environmental tourism, agro-tourism, eco-tourism, leisure tourism and archaeological tourism.”
He concluded: “Sharjah has played a major role in also diversifying its economy. It has currently developed one of the leading sectors in the Middle East for environmental sustainability, offering international organisations pioneering opportunities for investments and technologies. Thanks to Sharjah’s initiatives and to Bee’ah’s environmental projects, Sharjah is closer than ever to achieving its 100% ‘zero waste’ vision. Furthermore, we believe that Sharjah is also the birth place for innovation and leadership. Under the wise directives of His Highness Sheikh Dr. Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, Sharjah has invested in the well-being and education of its people. The Sharjah University City attracts more than 26,000 students year-on-year, with the American University of Sharjah continuing its attraction as one of the most iconic and desired universities amongst international students. Thanks to this achievement, AUS Enterprises was established, streamlining its strategic business and investments with the significant progress AUS has been experiencing in graduating top-level students.”
Addressing the German businesspersons at the forum, Marwan bin Jassim Al Sarkal said: “The UAE enjoys very strong relations with Germany, the largest and most powerful economy in Europe. Germany is the UAE’s fifth largest foreign trade partner and the UAE is Germany’s most important trade partner in the Arab world. According to recent statistics by the UAE Ministry of Economy, trade between the UAE and Germany was valued at USD 15.5 billion (approx. AED 57 billion), with 159 German companies operating in the UAE, 420 German trade agencies and 8,413 registered German trademarks in the UAE.”
He added: “Since our first visit to Germany in 2012, Shurooq has worked hard to further develop our economic ties. Last year, the authority organised three business trips to Germany and managed through fruitful exchanges to significantly boost relations and take them to the next level of a strategic partnership. Today, there are more than 420 German companies and trade agencies in the emirate, 100 of which are based in Sharjah city and the rest in the emirate’s Free Zone Areas. Among these leading global companies are Daimler, Ferrostaal and Global Found Guise, with many smaller operations also well established in the emirate.
The Shurooq CEO highlighted a number of German company success stories, revealing how they have made the most of the encouraging environment and the unlimited support and facilities offered by Sharjah to achieve significant growth and become major entities locally and internationally.
Al Sarkal elaborated: “We look forward to attracting more German investors to setting up their businesses in Sharjah, as the emirate is one of the most promising areas for business growth in the Middle East. Sharjah is able to offer an unmatched investment-friendly environment in the region through its adoption of the principles of free trade and its clear vision for growth and development. Thanks to its encouraging legislative environment, the
emirate is home to hundreds of foreign companies and to thousands of
skilled workers.”