Profile
From The Report: Sharjah 2023
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Sharjah stands out as a prime destination for manufacturing, culture and education. Its economy is nearly 96% non-oil based, and the emirate hosts six specialised free zones, offering flexible investment options and advanced infrastructure. In 2022 Sharjah’s population reached 1.8m, with a focus on a young, urban demographic. The emirate’s commitment to economic diversification is evident through initiatives supporting small businesses and investment in tourism. Recognised internationally for its culture, Sharjah aims to become a top regional family tourism destination, Sharjah is expanding its infrastructure, including Sharjah International Airport, while progressing towards a sustainable and diversified economy, harmonising economic resilience with cultural richness.

This chapter contains interviews with Sheikha Bodour bint Sultan Al Qasimi, Chairperson, Sharjah Investment and Development Authority; Ahmed Al Qaseer, CEO, Sharjah Investment and Development Authority (Shurooq); and Mohamed Al Musharrkh, CEO, Sharjah FDI Office (Invest in Sharjah).

Articles from this Chapter

Overview

Diverse benefits: A growing non-oil sector, and numerous cultural and art events demonstrate the emirate’s advantages
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The third-largest emirate in the UAE after Abu Dhabi and Dubai, Sharjah stands as a prime manufacturing, cultural and education destination in the country. It is home to two amphitheatres, 16 museums, a variety of year-round festivals and University City of Sharjah, with more than 22 colleges and universities – all of which contribute to its distinct identity. Sharjah has a robust and diversified economy, where nearly 96% of economic activity is non-oil based and no single industry exceeds 20%…

Interview

New foundations: Sheikha Bodour bint Sultan Al Qasimi, Chairperson, Sharjah Investment and Development Authority, on creating favourable conditions for start-ups and attracting investment
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Interview:Sheikha Bodour bint Sultan Al Qasimi How do you assess Sharjah’s progress in enhancing the entrepreneurial ecosystem, and which industries are poised for further activity? SHEIKHA BODOUR BINT SULTAN AL QASIMI: Sharjah has made significant strides in strengthening its entrepreneurial ecosystem, and the rate of economic growth in the emirate has outpaced the global average following the Covid-19 pandemic. Sharjah is transitioning from nurturing early-stage ideas to fostering a robust…

Interview

Global destination: Ahmed Al Qaseer, CEO, Sharjah Investment and Development Authority (Shurooq), on realising economic objectives and attracting increased investment inflow
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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…

Analysis

Green targets: Sustainable investment and residential and tourism development offer opportunities to reach net-zero goals
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In recent years Sharjah has taken steps to align public financing with environmental and socio-economic priorities, leveraging local business’ expertise and inherent advantages. As such, the COP28 UN Conference on Climate Change hosted by the UAE in November 2023 presented a key opportunity for Sharjah to showcase its progress in advancing the UN Sustainable Development Goals (SDGs) and contributing to the UAE’s commitment to become a net-zero economy by 2050. Sustainable Finance In February…

Interview

Investment drivers: Mohamed Al Musharrkh, CEO, Sharjah FDI Office (Invest in Sharjah), on investment appeal and new growth avenues
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Inteview:Mohamed Al Musharrkh How do you evaluate the global investment climate, and what factors position Sharjah as an attractive investment destination against this backdrop? MOHAMED AL MUSHARRKH: In evaluating the global investment climate for 2023-24, we see a landscape of resilience and gradual post-Covid-19 pandemic recovery, with foreign direct investment (FDI) flows rebounding. However, developing countries face a slower recovery due to geopolitical and economic uncertainties. The…

Analysis

Regional ties: Bilateral trade talks between the UK and the GCC stand to benefit renewable energy and food security in the bloc’s renewable energy and food security
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As part of plans to expand and diversify its global trade partners and fulfil their respective national development strategies, the GCC has launched negotiations with the UK on a free trade agreement (FTA). This partnership is expected to bolster the bloc’s economy, help attract investment and provide greater opportunities for local businesses. On June 22, 2022 the two parties signed a joint statement and officially launched talks on a comprehensive trade deal, with Anne-Marie Trevelyan, the then-UK…