The Sharjah FDI Office (Invest in Sharjah), the entity responsible for intensifying Sharjah Government’s efforts to promote the emirate’s business and investment opportunities in key international markets, in collaboration with the Chinese Business Council, organised the Sharjah–China ‘Belt & Road’ Business Round Table at the Sharjah Chamber of Commerce and Industry (SCCI) in Sharjah, which concluded on Thursday April 18^th 2019.

The Chinese delegation of 140 businesspersons was led by HE  Lei JIN, Economic and Commercial Counselor of Consulate – General of the People’s Republic of China and and Mr. Shaoguo HAN, Vice President, CNPC International, on behalf of Chinese Business Council. Among other important attendees were senior representatives from Sharjah’s government entities, including HE Marwan bin Jassim Al Sarkal, Executive Chairman of the Sharjah Investment and Development Authority (Shurooq); HE Waleed Abdel Rahman BuKhatir, Second Vice Chairman of the Sharjah Chamber and Commerce Industry (SCCI); Mr. Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah.

Also, in attendance were, HE Khaled Al Huraimel, Group Chief Executive Officer, Bee’ah-Sharjah Environment Company; Mr. Shihab Al Hammadi, Authority Director, Sharjah Media City (Shams); Ahmad Al Halyan, Director of Business Development, Sharjah Research Technology and Innovation Park (SRTIP),  Mr. Jassem Al Hammadi Director of New Business Ventures, Sharjah Asset Management Holding; Mr. Emerson N. Buarque, General Manager – Business Development, Gulftainer; and Mr. Liu Lin, GM of CATIC Dubai and Northern Emirates Branch.

The purpose of the round table was to outline new partnership and investment opportunities for Chinese businesses, facilitated by Sharjah’s government and private sector entities, as well as the emirate’s economic free zones, which have the capacity to provide existing and new investors from China direct access into local markets through Sharjah, and then grow regional and global operations.

It also comes in-line with developments between UAE-China bilateral relations, such as the recent signing of a memorandum of understanding (MoU) for joint UAE–China cooperation to boost investment and trade between the two countries, which coincided Chinese President Xi Jinping’s visit last July. These offered huge momentum to both parties to explore a number of China’s outbound investments, as well as its Belt and Road Initiative (BRI), as a platform to find Chinese investors more appropriate opportunities to invest into Sharjah’s rapidly diversifying economy and theory promote bilateral relations in trade and investment.

HE Lei JIN, Economic and Commercial Counselor of Consulate – General of P.R. China in Dubai, commented: “As we all know, China and UAE have already achieved thriving bilateral economic cooperation, especially after our president Xi Jinping and Vice President Wang Qishan’s visit to UAE, our two countries have forged comprehensive strategic partnership. Since 2017, China became UAE’s largest trade partner and also among the top 10 investors to UAE.”

He added: “In recent years, Chinese companies and organizations have become increasingly active in UAE market, as in Sharjah, we are happy to see 735 Chinese companies registered in this emirate by June 2018. Besides the traditional trade, there are more and more of them taking part in UAE’s large projects and cooperating with UAE government entities and major enterprises on a deeper level.”

Speaking at the roundtable, HE Marwan bin Jassim Al Sarkal, Executive Chairman, Shurooq, explained how Sharjah is growing with opportunities for Chinese investors – in powerplants, seaports, airports, or several other sectors.

He said: “Our aim to help Chinese investors grow their businesses, boost efforts for the realisation of the BRI, and establish long-term, sustainable and mutually-beneficial bilateral partnerships. Sharjah’s infrastructure and business expertise to guide Chinese investments into its developed and diversified market sectors like manufacturing and logistics, road and transport, real estate, healthcare, Information Technologies. The business roundtable helped us to better understand the needs of Chinese investors so we can assist them find the most suitable opportunities in the UAE, particularly in Sharjah markets.”

He also highlighted Sharjah’s integrated efforts in establishing policies in place favourable to Chinese investors, and stated that the SAIF Zone, which provides state-of-the-art infrastructure to Chinese investors in all sectors to help them flourish in the UAE, is one of Sharjah’s many initiatives to develop the economic ties between the two nations.

During the event, Invest in Sharjah launched its official WeChat account, the most used social media platform in China in order to open direct communication channels between investors in both countries. Through the social media channel, Invest in Sharjah will be sharing with investors invaluable information relating to investment opportunities, beneficial to investment seekers in both countries.

During the event, Invest in Sharjah launched its official WeChat account, the most used social media platform in China in order to open direct communication channels between investors in both countries. Through the social media channel, Invest in Sharjah will be sharing with investors invaluable information relating to investment opportunities, beneficial to investment seekers in both countries.

A panel discussion titled ‘Investment Opportunities in Sharjah’, highlighted business opportunities within Sharjah’s diversified sectors that are most promising to be pursued as part of the Sharjah-China partnership. It also shed light on the qualities, which have enabled Sharjah’s economy to continuously attract quality foreign investments, which continue to grow.

Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah, said: “Sharjah has so much to offer for Chinese investors. Its unique geographic location and advanced infrastructure makes it an ideal place for operating business in the UAE, and a strategic important hub to expand to neighboring markets.

“Invest in Sharjah has been keen in organising and taking part in a variety of roadshows in major Chinese cities to introduce investors to investment opportunities in Sharjah. We also share important opportunities with diplomatic and economic envoys in order to keep everyone updated. That’s why today, we launched Invest in Sharjah’s official WeChat account, as a new communication channel between Sharjah and Chinese investors that will help us reach a wider segment of Chinese investors, and share with them relevant information on FDI opportunities.”

He continued: “We are overwhelmed with the huge turn-out at the roundtable session, it shows Chinese investors’ interest in investing in the emirate, which has so many unique offerings that will assist them to expand their business and achieve their strategic goals.”

During the roundtable, HE Khaled Al Huraimel gave a brief on Bee’ah and highlighted the huge strides and accomplishments of the company. He noted that there are many investment opportunities for Chinese companies in sustainability projects and technology.

Mr. Shihab Al Hammadi highlighted the advantages that Shams offers to investors, due to adoption of the latest technologies and advanced infrastructure that enables clients to focus on their executing their business plans with ease of mind, adding that it is an ideal place for creative entrepreneurs.

Ahmad Al Halyan, Director of Business Development, Sharjah Research Technology and Innovation Park (SRTIP); and Mr. Jassem Al Hammadi Director of New Business Ventures, Sharjah Asset Management Holding, also presented key benefits and business prospects, which Chinese investors can enjoy behind expanding their networks and operations within Sharjah through SRTIP and SAM Holding across a diverse set of sectors and markets.

Sharjah has been collaborating with China over trade, culture and tourism over several years. As of June 2018, 735 Chinese companies were registered in the emirate. These numbers continue to grow due to Sharjah governments pro-investor policies and strategic budget allocations, For instance, out of the approved 2019 budget Sharjah, 26 percent has been dedicated to the development and improvement of its infrastructure, and 41 percent has been committed towards the economic development sector – two significant sectors as far as the BRI is concerned.

An estimated 200,000 Chinese currently reside in the UAE with more than 4,000 Chinese companies operating in the country in several sectors such as trade, construction, telecommunication, and food and beverage.

Thirty percent of China’s exports to the Arab world already go through UAE, so needless to say that the country poised to play a major role in BRI. Looking at the future, it is expected that with the diversification of UAE’s and Sharjah’s economy, opportunities for Chinese investors will continue to grow.