Economy
From The Report: Sharjah 2018
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The economy of Sharjah is highly diversified by regional standards, with oil and gas contributing less than 6% to GDP, and no individual sector accounting for more than 20%. The emirate has had particular success in developing its industrial and manufacturing sector through a network of free zones and industrial zones that continues to develop and expand, and it is one of the main industrial bases of the UAE. The authorities have also taken a range of measures to boost foreign investment flows, supported by an attractive national business environment and competitive advantages, such as Sharjah’s comparatively low operating costs. This chapter contains interviews with Marwan bin Jassim Al Sarkal, CEO, Sharjah Investment and Development Authority (Shurooq); and Najla Al Midfa, General Manager, Sharjah Entrepreneurship Centre (Sheraa).

Articles from this Chapter

Overview

Diversified growth: Public revenue set to benefit from a new value-added tax and weaker dollar as fiscal deficit narrows
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The economy of Sharjah is highly diversified by regional standards, with oil and gas contributing less than 6% to GDP, and no individual sector accounting for more than 20%. The emirate has had particular success in developing its industrial and manufacturing sector through a network of free zones and industrial zones that continues to develop and expand, and it is one of the main industrial bases of the UAE. The authorities have also been taking a range of measures to boost foreign investment…

Interview

Marwan bin Jassim Al Sarkal, Executive Chairman, Sharjah Investment and Development Authority (Shurooq)
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Interview:Marwan bin Jassim Al Sarkal What measures is Sharjah implementing to develop a knowledge-based economy? MARWAN BIN JASSIM AL SARKAL: Sharjah has recognised the importance of attracting diverse regional and international businesses through the development of specialised free zones catering to specific sectors with the infrastructure and resources to meet their needs. The Sharjah Research, Technology and Innovation Park Free Zone launched by AUS Enterprises provides a venue for developing…

Analysis

Global players: The Sharjah Entrepreneurship Centre, universities and private firms are working to support start-up development
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Sharjah’s neighbour and sister emirate, Dubai, is the centre of the Middle Eastern start-up economy, but Sharjah is also developing a culture of entrepreneurship, bolstered by support from the authorities, its well-developed education sector and its lower cost base. Sheraa The authorities are working to bolster start-ups and entrepreneurship. January 2016 saw the Sharjah Investment and Development Authority and the American University of Sharjah (AUS) establish the Sharjah Entrepreneurship…

Interview

Najla Al Midfa, Chief Executive Officer, Sharjah Entrepreneurship Center (Sheraa)
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Interview:Najla Al Midfa What is the current state of start-up development? NAJLA AL MIDFA: The investment community increasingly recognises the potential of new enterprises and the role start-ups can play in job creation. Physical spaces for new businesses are growing, and Sharjah has launched three free zones, including Sharjah Publishing City and the Research, Technology and Innovation Park, since 2016. This offers a friendlier licensing environment for start-ups, as there is more flexibility…

Overview

Business Barometer: UAE CEO Survey:
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The introduction of a flat 5% value-added tax on January 1, 2018 is part of ongoing efforts to boost government revenue and increase the overall transparency of the market. Although still in its early days, the move comes against a backdrop of positive sentiment among business leaders, as shown in the second iteration of Oxford Business Group’s Business Barometer: UAE CEO Survey. Of the nearly 150 executives surveyed, more than three-quarters had positive or very positive expectations of local business conditions, while 90% said the level of transparency for conducting business was high or very high relative to the broader region. …

Analysis

A new page: The inauguration of Sharjah Publishing City and other arts and culture initiatives set to promote intellectual output
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When it comes to sharing and promoting Arab art and culture, Sharjah has been reaching out to the rest of world for decades. In 1998 the emirate founded the UNESCO-Sharjah Prize for Arab Culture, and in 2006 Sheikh Sultan bin Muhammad Al Qasimi, ruler of Sharjah, established the Sharjah Museums Project. This has since grown into a complex of 16 museums with collections illustrating Islamic civilisation, science, art and archaeology. Indeed, one-quarter of the UAE’s museums are located in…