Interview: Ahmed Al Qaseer
What steps have been taken to attract investment and improve the business climate?
AHMED AL QASEER: In addressing global macroeconomic developments, it is crucial to recognise how the Covid-19 pandemic fundamentally altered the landscape. In Sharjah, the government’s swift action significantly contributed to our resilience, especially in terms of the rapid vaccine rollout and the relatively brief lockdown period of about three months. During the lockdown, we took the opportunity to reassess and reformulate our policies to foster a more business-friendly environment. We aimed to create a setting where investors feel supported and secure. This included revising regulations, such as eliminating the requirement for a local business partner and re-evaluating government fees.
In what ways can Sharjah distinguish itself as an investment destination in the region?
AL QASEER: Sharjah has positioned itself as a prime investment destination through its advanced infrastructure and supportive policies. Our focus on quality education, health care and health insurance policies lays a strong foundation for attracting investors and their families. The emirate’s infrastructure is internationally competitive, with transport systems including roads and airports offering extensive connectivity. This infrastructure extends to our ports and logistics, enabling smooth and easy market access across the region.
Legislative reforms have played a key role in enhancing Sharjah’s appeal. These include more flexible business ownership laws and reviewing government fees to create a more investor-friendly environment.
Another distinguishing factor is the emirate’s investment in human capital. University City of Sharjah, which is home to approximately 40,000 students, underscores our attentiveness to education and innovation. This dedication extends to supporting start-ups and entrepreneurs through the provision of finance and infrastructure, particularly in research and technology parks.
Our economic strategy emphasises diversification, particularly in advanced manufacturing and technology. This approach aligns with our focus on sustainability, demonstrated by companies like BEEAH Group, one of the largest recycling firms in the region, which originated in Sharjah. We have a balanced contribution from various sectors, ensuring a robust and resilient economy. This diversification extends to our agricultural initiatives, where recent advancements and government support are paving the way for increased self sufficiency in food production.
How is the emirate working to position itself within the regional and global economy?
AL QASEER: Sharjah is positioning itself in the regional and global economy through two key strategies. Firstly, we are intensifying our efforts to promote the emirate as an investment destination. This involves targeted approaches in specific markets of high importance, such as China, India and select European countries, where we have identified strong investor interest. Our approach includes organising international workshops to bring stakeholders and potential investors together. These workshops serve as platforms to showcase Sharjah’s infrastructure and investment opportunities. We also provide comprehensive support to investors through initiatives like our one-stop shop, which offers free advisory services. This centre assists investors in understanding where and how to invest in the emirate without expensive consultancy fees.
Second, our legislative framework is continuously evolving to meet the needs of a dynamic global economy. Sharjah boasts robust infrastructure, a fundamental advantage we continuously highlight to potential investors. Our focus is not only on attracting investment, but also on educating ourselves about the types of companies that align with our values and goals. We are committed to supporting businesses that match our standards and contribute positively to our economy.
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