In a new global mark of confidence in Sharjah’s economic role, the Sharjah FDI Office (Invest in Sharjah), operating under the Sharjah Investment and Development Authority (Shurooq), has assumed MENA’s regional directorship at the World Association of Investment Promotion Agencies (WAIPA) for a two-year term, until 2021.

The announcement was made at the 24^th WAIPA World Investment Conference (WIC) in Poland, today (Monday October 8), and is a recognition of Sharjah’s regional leadership in driving long-term qualitative investments into the UAE.

The emirate’s stature in attracting responsible investment and promoting sustainable growth has solidified significantly, especially in the past decade, driven by the continued leadership and strategic vision of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah; and His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah.

The Sharjah Investment and Development Authority (Shurooq) affiliate’s win was decided by global consensus expressed through a direct ballot in which votes were cast by all investment agencies and entities who participated in WIC 2019. Through this appointment, Mohammed Juma Al Musharrkh, CEO of Invest in Sharjah, also automatically becomes a member of WAIPA’s Steering Committee.

With the new title, Invest in Sharjah will work towards strengthening the emirate’s regional partnerships and continue fostering a regionwide culture of responsible investments, sustainable growth and strategic capital distribution focused on vital sectors like health, education, innovation, infrastructure and services.

Expanding strategic partnership with WAIPA

As the WAIPA MENA regional director, Invest in Sharjah will be working to develop an ambitious strategy to broaden WAIPA MENA membership’s participation in the programmes implemented by WAIPA. They will be working to improve the region’s overall investment environment by putting in place up-to-date investment policies.

Sharjah has been enjoying strong ties with WAIPA, particularly since the 2018 Memorandum of Understanding (MoU) between Invest in Sharjah and WAIPA was signed during the 4^th Sharjah FDI Forum. The understanding locked their shared commitment to support each other’s activities through the use of latest investment technologies.

Invest in Sharjah has been participating in several international events alongside WAIPA. Their combined efforts are geared towards providing best solutions to promote foreign investments.

A vote of trust in Sharjah’s vision for the region’s future

Commenting on Sharjah’s new accolade, HE Marwan bin Jassim Al Sarkal, Executive Chairman of Shurooq, said: “This is a vote of trust in Sharjah’s vision for the future of the UAE and the region. The emirate deserves this for fostering a leading culture of innovation, strong economic diversification and the balanced growth of all vital sectors. The emirate has strongly pursued a ‘looking-ahead’ strategy to establish itself as a regional and global gateway for investments, and today we reap the fruits of our efforts.”

“Sharjah’s successful economic diversification strategy coupled with a full list of key advantages it offers investors across sectors have contributed to making us one of the most attractive investment destinations for businesses worldwide,” Al Sarkal added.

These factors combined, he said, have enabled the emirate to build its position as a strategic hub for all large-scale, small and medium sized companies, who are pursuing their goals of regional expansion into the Middle East and North Africa, with a base in Sharjah.

Invest in Sharjah will continue to enhance the emirate and UAE’s key contributions to promoting regional growth

Mohammed Juma Al Musharrkh, CEO of Sharjah FDI Office (Invest in Sharjah), added: “Sharjah’s win is a well-deserved recognition of the emirate’s leading efforts in supporting the activities of investors and investment agencies in the UAE and the region. In our role as WAIPA’s regional director for MENA, Invest in Sharjah will continue to enhance the emirate’s and UAE’s contribution to encourage investment flows into the region and promote further growth.”

Al Musharrkh also took the opportunity to emphasise the importance of stronger regional participation at the Sharjah FDI Forum in light of Invest in Sharjah’s new regional role, noting that the upcoming edition on 11 – 12 November 2019 will present a key opportunity to discuss ways the region’s FDI potential can be furthered to ensure sustainable development and mutual success.

WAIPA was established in 1995 in Geneva, Switzerland, as a global non-profit organisation under the patronage of the United Nations Conference on Trade and Development (UNCTAD), with the aim of promoting networking and sharing of knowledge, ideas and best practices among investment promotion agencies cross

‘Invest in Sharjah’ is committed to highlight Sharjah’s business-friendly environment and attractive investment opportunities in all local and international forums. Since its inception by Sharjah Investment and Development Authority (Shurooq) during the Sharjah FDI Forum in September 2016, the Office brings together local and international investors, guiding them to the tremendous opportunities and potential that Sharjah offers. The Office’s efforts contributed to cement the emirate’s position as a leading investment destination regionally and globally.