Sharjah recognizes Italian investment opportunities to expand its ecosystem

By Rahul Vaimal, Associate Editor
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Sharjah FDI Office, the promotional investment arm of Sharjah Investment and Development Authority (Shurooq) has identified several opportunities for Italian businesses in a range of key industries in the expanding investment ecosystem of Sharjah.

The statement was made at a recent high-level virtual business webinar entitled ‘Investment Opportunities for Italian Companies in Sharjah’. The webinar highlighted the advantages of Sharjah in providing attractive growth and expansion platform for Italian companies in diverse sectors.

The webinar was attended by many Italian businessmen and entrepreneurs who were introduced to the fast-growing business possibilities in key areas such as advanced health technology, agri-tech, IoT, innovative manufacturing, tourism, and the green economy.

H.E. Omar Al Shamsi, UAE Ambassador to Italy, commended Sharjah for its “holistic and balanced approach to economic development” and also he described how the Emirate has developed over the years into a center for arts and culture as well as a leading industrial hub, under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah.

“This event will further strengthen the outstanding bilateral relations between the UAE and the Italian Republic as well as attract mutual investments,” he further added.

Nicola Lener, Ambassador of Italy to the UAE, said that for Italian companies keen on a long-term business plan, “Sharjah is a promising destination for foreign investments, especially in technology and innovation-related sectors.”

H.E. Marwan bin Jassim Al Sarkal, Executive Chairman of Shurooq, highlighted how the Emirate’s digitization strategy and increased emphasis on R&D and technology capabilities, together with the newly launched UAE Domestic Tourism Strategy, will open up a world of investment opportunities for Italian investors.

“With bilateral relations having commenced almost five decades ago, the UAE is the largest trading partner for Italy in the Gulf region. We must leverage the potential of this innovative investment ecosystem that exists between the two destinations,” he further added.

H.E. Dr. Khalid Omar Al Midfa, Chairman of Sharjah Media City Free Zone (Shams) said, “The cost-effective solutions of Sharjah Media City for entrepreneurs offer a platform to easily embark on their business start-up journey. Setting up a business in a free zone is a seamless process, and 100 percent ownership of the company and 100 percent repatriation of capital and profit are key attractions for investors.”

The CEO of Sharjah Research Technology and Innovation Park (SRTI), H.E. Hussain Al Mahmoudi, predicted that “the next 50 years for the UAE would be knowledge-based economy-boosting space programs, 3D printing, AI, and the next-generation technologies.”