"Sharjah Foreign Investment" participates in the two editions of "Investopia Investments" during 2022 and 2023

«Economy»: doubling the size of the economy to 3 trillion dirhams in 2030

Officials of the "Economy" and the Sharjah Investment Office during the signing of the memorandum of understanding.

From the source

The Ministry of Economy has signed a memorandum of understanding with the Sharjah Foreign Direct Investment Office (Invest in Sharjah), to cooperate and enrich the discussions of the first edition of the "Investopia Investment Summit", and the workshops that will be held on March 28, in the framework of the "Expo 2020 Dubai" activities. Abdullah bin Touq Al Marri said that the UAE aims to double the size of the economy from 1.4 trillion dirhams to three trillion dirhams in 2030, which requires new and unprecedented strategies for economic diversification and capacity building in new economic sectors.

He said that the year 2020 witnessed attracting up to $20 billion in foreign direct investment flows to the state, with a growth rate of 17% compared to 2019. He stressed that the UAE, at the local level and the state's vision for the next fifty years, has a national target to attract foreign investments in the coming years 2030, estimated at 150 $1 billion, or 550 billion dirhams.

He stressed that the importance of the Investopia Summit for the UAE economy is that all national investment opportunities and development projects come from the seven emirates, and that it enhances the flow of investments inward, and will attract foreign direct investments worth 550 billion dirhams by 2030, to eventually reach one trillion dirhams by 2051, as well. The summit brings the seven emirates together under one umbrella, making the UAE a “catalyst” to advance future and current economies, and understand future investment trends. He indicated that, according to the memorandum of understanding, the Sharjah Foreign Direct Investment Office will participate in the summit in its first and second editions during 2022 and 2023 respectively, as part of a special session on investments in Sharjah.

In turn, the Undersecretary of the Ministry of Economy, Abdullah Al Saleh, said that Investopia unites all national investment opportunities and development projects from the seven emirates.

Accordingly, the memorandum of understanding with the Sharjah Investment and Development Authority translates the sixth principle of the "Fifty Principles", which affirms that the UAE is one economic destination, one tourist destination, one industrial destination, one investment destination, and one cultural destination.

In the same context, the CEO of the Sharjah Investment and Development Authority (Shurooq), Marwan bin Jassim Al Sarkal, said that Sharjah has recently completed many investment projects, despite the repercussions of the “Covid-19” pandemic, and has also been able to attract many inflows of foreign direct investment. last year.

As for the Executive Director of the “Invest in Sharjah” office, Muhammad Juma Al Musharrakh, he stated that the focus is on attracting investments to many opportunities in the sectors of ecotourism, modern agricultural technologies, virtual reality systems, artificial intelligence solutions and “Blockchain”, in addition to many other sectors. Industrial investment opportunities.

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