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Sharjah has 6 professional free zones and 33 industrial zones.
The FDI Future Trends and Industry Potential Report, recently released by the Sharjah Foreign Direct Investment Office (Invest Sharjah), has identified seven high-potential industries that are driving qualitative and sustainable strategic investment in the emirate and strengthening the emirate’s global presence Competitiveness in the economic and investment landscape.
The report was prepared in collaboration with a wide range of government departments and private sector entities in the UAE and in collaboration with PricewaterhouseCoopers Middle East. Backed by real-time performance statistics, the report details that despite a sharp drop in global investment inflows since the onset of the Covid-19 pandemic, Sharjah remains an attractive destination for key sectors such as health and wellbeing, transport and logistics, culture and tourism strong FDI destinations, agri-food technology, green technology, human capital and innovation, and advanced manufacturing.
The report noted that Sharjah and the UAE’s business-friendly environment, backed by modern legislation, future-proof infrastructure, a highly qualified workforce, and more than 60,000 SMEs and start-ups, are key factors in increasing their FDI attractiveness. For Sharjah in particular, six specialized free zones and 33 industrial zones, strategic locations, and global connectivity via sea, land and air routes and ports in the Gulf of Oman and Arabian Gulf have once again demonstrated the emirate’s attractiveness as a gateway to the GCC and the wider region, with a GDP of US$1.6 trillion (AED5.88 trillion).
The report highlighted that the UAE is one of the most open and investor-friendly economies in the world, attracting significant foreign investment over the past few years, noting that Sharjah has leveraged the UAE’s global reputation to cement its position as the preferred FDI in the country. destination of the region.
Ahmed Obaid Al Qaseer, Acting Chief Executive Officer, Sharjah Investment and Development Authority, said: “There are many investment opportunities in Sharjah today in various sectors, especially in the new economy, advanced industries, tourism, agriculture, innovation, etc. With advanced With its infrastructure and flexible legislation, the emirate has become the preferred destination and industrial capital for businesses in the region. We look forward to welcoming new companies to Sharjah, which will undoubtedly benefit from the accelerated growth and continuation of creative projects in the UAE and the UAE support.”
Mohamed Juma Al Musharrkh, CEO of the Sharjah Foreign Direct Investment Office (Sharjah Investments), said: “In the post-pandemic era, investment in technology is outpacing all other sectors. The opening of Sharjah’s first 3D printing company in the region marks its Competitiveness in advanced manufacturing.”
He added: “Invest Sharjah is keen to attract and promote investments that seek growth in the emirate’s safe and stable environment. Leveraging our strong relationships between the private and public sectors, we can help investors access incredible investment opportunities and Provides all required support from ideation to project launch.”
“Our team provides investors with reliable market information and analysis, and shares valuable opinions on each case based on their extensive experience in the field, which helps investors make sound and confident decisions. We also have sand Sharjah Investor Services Centre (SAEED), a one-stop shop for investors to do business and complete government transactions in Sharjah,” he concluded.
Against the backdrop of the devastating pandemic sweeping the world, Sharjah managed to attract FDI worth US$220 million (AED808 million), including foreign direct investment in the third and fourth quarters compared to 2019 Direct investment projects grew by 60%, minimizing the financial impact on their economy, which led to the creation of 1,117 new jobs. The strong growth trajectory during Covid-19 reflects the high performance of the ICT sector, which recorded a growth rate of 55.6%, followed by the food and agriculture sector at 49.7%, the life sciences sector at 47%, and finally, Logistics and distribution, up 46.2%.
Per capita health spending in the UAE in 2019 was recorded at US$1,643 (AED6,035), and the country’s pharmaceutical industry is forecast to grow by 7.3% per annum to reach US$4.7 billion (AED17.26 billion) by 2024. All of this means that the potential for Sharjah to benefit from FDI in these industries is enormous.
Sharjah’s health and wellbeing sector is poised to witness an increase in foreign investment due to an aging population, overall population growth and medical advancements. According to the Medical Tourism Index, the UAE is one of the top 10 global healthcare destinations with an additional positive impact.
Within this sector, the Sharjah Investment Report highlights the largest investment opportunities in three key sub-sectors: pharmaceuticals and precision medicine to manufacture bespoke medical products using the emirate’s strong infrastructure; specialist healthcare facilities, including elderly care and rehabilitation centres; and health and Medical tourism, as the emirate is recognized as the preferred low-cost destination for medical tourism in the region.
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