Shurooq to host 12th edition of WORLD FORUM for Foreign Direct Investment

SHARJAH– The Sharjah Investment and Development Authority (Shurooq) has announced that Sharjah will be hosting the 12^th edition of the prestigious WORLD FORUM for Foreign Direct Investment, the annual event that covers the latest news on corporate strategy concerning location requirements, people and future expansion.

The announcement follows on the Authority’s participation in 11^th edition which this year took place from the 16^th to the 18^th of June in Philadelphia, USA.

The move comes few months after the Emirate has received strong sovereign credit scores: A-class from Standard & Poor’s and long term rating of A3 from Moody’s, reflecting the confidence of the international credit rating agencies in the emirate’s economy.

Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Investment and Development Authority (Shurooq), stressed on the importance of hosting this global forum – which is considered the world’s premier FDI platform – in Sharjah. She pointed out that the event’s arrival in Sharjah comes as the Emirate is receiving increasing international attention, particularly by major international firms and investment authorities, as one of the GCC’s most attractive markets for foreign direct investment.

Sheikha Bodour Al Qasimi added: “By hosting the 12^th edition of the WORLD FORUM for Foreign Direct Investment, we are looking forward to welcoming investors and investment authorities from across the world and familiarizing them with the FDI opportunities prevalent in the emirate of Sharjah and the UAE. As the forum is expected to attract wide international participation, we are confident it will contribute to boosting economic activity in the region and achieving higher levels of growth in all fields”.

Shurooq’s participation in this event comes in line with the Authority’s strategy to promote the rewarding investment opportunities in Sharjah and in line with the directives of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, to encourage and facilitate investment in Sharjah.

Ahmed Obaid Al Qaseer, COO of the Sharjah Investment and Development Authority (Shurooq) stated that Shurooq had made use of their participation in 2014 Forum to promote Sharjah’s investment potential, with specific focus on the four key growth sectors – travel and leisure, healthcare, transport and logistics, and environmental services.

 “The Forum provided an excellent platform to introduce the investment opportunities currently available in Sharjah, build new and strengthen existing relationships, and very importantly gain a deeper insight into exactly what it is that investors are looking for when selecting an FDI destination, so that we might continue to expand and deepen our range of investment services.” Al Qaseer added.

The WORLD FORUM for Foreign Direct Investment provides a platform to network and discuss global location decisions amongst FDI dealmakers, including globally expanding companies, economic and investment agencies, and the multipliers and site selectors who advise both parties.

Taking place over the course of three days, the Forum is comprised of a series of high-level panel discussions, presentations, debates, and bilateral meetings that facilitate direct contact between investment promotion entities and corporate location decision-makers.

Hosted in a spectrum of world locations since 2003, including Amsterdam, Brussels, London, Valencia, Bologna, Vilnius, Tallinn, Shanghai, and Philadelphia, the WORLD FORUM for Foreign Direct Investment covers FDI in every world region, from the point of view of investing companies. The latest news on corporate strategy concerning location requirements, people and future expansion are covered, giving an insight into business sectors and activities that are growing rapidly. Economic Development Agencies are invited to meet and network with their potential clients (corporate investors) and to also build their own networks sharing best practice with colleagues from investment and development agencies from diverse regions.

Established in 2009, Shurooq strives to encourage investment in Sharjah by adopting the best international standards in providing quality services that help attract investors from the region and the world.

Shurooq’s key mission is to provide facilities and incentives to help overcome obstacles facing investment activities in the Emirate, evaluate tourism and investment related infrastructure projects, and lay down the necessary plans to complete such projects.

In recognition of its overall accomplishments, Shurooq was named The Banking Awards 2013 – FDI Agency of the Year in the MENA region, in The European’s Global Banking and Finance Awards.