We value your privacy

We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic. By clicking "Accept All", you consent to our use of cookies.

Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Economy
...0
May 29, 2024May 29, 2024
‘Invest in Sharjah’ strengthens emirate’s status as leading industrial hub

The Sharjah FDI Office (Invest in Sharjah) announced significant progress in solidifying Sharjah’s status as a premier industrial centre within the region.

Invest in Sharjah participated in the “Make it in the Emirates Forum,” where they delivered a presentation outlining the emirate’s investment advantages. This presentation detailed Invest in Sharjah’s vision and the range of services they provide to support investors in their growth and expansion endeavours.

Sharjah has witnessed considerable development in its markets, industrial zones and free zones. This is reflected in the issuance and renewal of 3,079 industrial licences in 2023 alone, representing a 10% growth rate compared to the same period in 2022, according to the Sharjah Economic Development Department (SEDD).

In 2023, Sharjah’s manufacturing sector experienced a surge in foreign direct investment (FDI), attracting US$18.9 million. This growth underscores the ongoing success of the emirate’s economic diversification policies and the strategic allocation of local and foreign capital.

Marwan Saleh Alichla, Director of Investment Promotion and Support, emphasised that economic diversification and a balanced approach between sectors, mainly focusing on the industrial sector, are central to Invest in Sharjah’s policies and strategies. This focus is driven by the sector’s critical role in sustaining growth and advancing the overall economic structure’s resilience.

Alichla noted that the industrial sector is the second-largest contributor to the emirate’s GDP at 16.7%, and the emirate is home to 35% of the factories in the country.

He added, “There is significant interest from investors in Sharjah’s industrial and free zones thanks to the comprehensive and flexible business environment, the emirate’s strategic location, and its suitable infrastructure for SMEs and heavy industries. We continuously develop our programmes and strategies to support the emirate’s vision of achieving global competitiveness, positioning Sharjah as the 5th fastest-growing city globally in attracting FDI in 2023.”