A high-level delegation from Sharjah represented mainly by the emirate’s economic and academic sectors, have spent a week exploring bilateral trade and investment relationships with 16 American entities in Pittsburgh, Pennsylvania, and Durham, North Carolina, from September 15–19.

This Sharjah – U.S. Trade & Investment Mission was the emirate’s latest step to buttress its economic diversification efforts by bringing in top global expertise into the emirate’s fast-growing non-oil sectors. The visit, facilitated by the US–UAE Business Council, was focused on showcasing Sharjah’s interest in attracting American investments in healthcare and innovate technology sectors to the governments and businesses in both cities.

The Sharjah delegation, comprised HE Marwan bin Jassim Al Sarkal, Executive Chairman of the Sharjah Investment and Development Authority (Shurooq); HE Hussain Mohamed Al Mahmoudi, CEO of Sharjah Research, Technology and Innovation (SRTI) Park; Mohammed Juma Al Musharrkh, CEO of Invest in Sharjah; Dr. Amina Mohammed Almarzouqi, Acting Dean of the Health Sciences College at the University of Sharjah (UoS); and Marwan Alichla Head of Investment Promotions at Invest in Sharjah.

They were in robust meetings with 25 government officials, including Pittsburgh’s Mayor, William Peduto, and a wide variety of companies ranging from Fortune 500 companies to innovative startups and SMEs ripe for international expansion. The Sharjah delegation also met academics and non-profit organisations in both cities.

The entities they met with belonged to these ten sectors: education, biotechnology, network technology, research and development, healthcare, textile engineering, investment services, start-ups and study & analytics. The sectors were carefully selected to further Sharjah’s sustainable development goals, boost its incremental efforts to enhance its education sector and offer itself as a regional hub for tech and innovation SMEs.

During a meeting in Durham with Michael S. Regan Secretary of the North Carolina Department of Environmental Quality, the Sharjah delegates offered key information about how American businesses could tap into not just UAE’s but Middle East-wide opportunities in R&D, technology and healthcare with Sharjah as their operational base. They met with representatives of Research Triangle Park Frontier Campus, North Carolina Biotechnology Center, and Nonwovens Institute, the world’s first accredited academic programme for the interdisciplinary field of engineered fabric. The delegation also went to the SignalPath  headquarters in Raleigh, the first of its kind platform to be built by researchers, for researchers in the healthcare sector.

While in Pittsburgh, the Sharjah officials visited the Robotics Hub at Coal Hill Ventures and Energy Innovation Center; Mellon Institute at the Carnegie Mellon University; and University of Pittsburgh. They also went to K&L Gates, one of the largest law firms in the US institutional consulting sector.

Develop a portfolio of partnerships in specialised sectors

HE Marwan bin Jassim Al Sarkal noted that the visit builds on the longstanding cooperation between Shurooq and major US entities, saying this mission has furthered Sharjah’s key developmental interests in vital sectors like education, healthcare, environment, technology, startups and SMEs, which drive diversification and sustainability.

He also highlighted that Sharjah’s strategic location, investor-friendly policies and ease of doing business have continued to attract new and diversified investments into the emirate from the US and the rest of the world, reflecting a growing investor confidence.

A recent report (by WAVTEQ) reveals that capital investment in Sharjah’s economy exceeded US$ 500 million in Q1 of 2019.

Emphasising that the SRTI Park is working towards establishing itself as a leading global hub for innovation and startups, R&D and technological advancement, HE Hussain Mohamed Al Mahmoudi, CEO of SRTI Park, said the visit was hugely beneficial in helping them understand international market potential and opened the door to new collaborative opportunities with top American technology and R&D outfits.

For his part, Mohammed Juma Al Musharrkh, CEO of Invest in Sharjah, commented: “Sharjah believes in the importance of foreign investment in building partnerships, expertise-exchange and localising successful global experiences, in addition to promoting local and global growth, and job creation.”

Al Musharrkh noted that new and renewed business licenses issued in Sharjah during the first half of the year, reached 31,190 in number, indicating a growth rate of 4 percent.

Dr. Amina Mohammed Almarzouqi, acting Dean of the Health Sciences College at UoS,  has discussed the academic and scientific programmes they offer with her American counterparts, especially in technology, engineering and healthcare. She’s certain these fruitful discussions will pave way for future collaboration between US educational institutions and UoS.

“The university aims to expand its activities and develop academic programmes to support the emerging demands of the educational sector, innovation and global research. UoS’s focus is on human capital development by offering them avenues to lead scientific research sector and learn from the best international standards. This is why collaborations are a must” said Almarzouqi.

‘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.