Page 3 - Al Tijarah - December 2019
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Editorial Message

               This month celebrations have been held across the country marking the 48th anniversary of the Emirates’ unification.
               On this auspicious occasion, the UAE President His Highness Sheikh Khalifa Bin Zayed Al Nahyan said that ‘we
               commemorate the blessed memory of the Founding Father, the late Sheikh Zayed Bin Sultan Al Nahyan, and his
               brothers the Founders who have established the solid foundation of a strong country that impressed the entire world’.

               The National Day is an opportunity for the UAE citizens to look back at what their country has come from and look
               ahead and take pride in what the UAE is prepared to achieve in the future.

               According to the International Monetary Fund (IMF), the UAE economy is set for sustained recovery next year
               supported by strengthening credit growth, helped by Expo 2020 and existing fiscal stimulus. Various independent
               observers have recently indicated that business confidence in the UAE is on the rise, underpinned by sizeable SWF’s
               (Sovereign Wealth Funds) assets and the government’s commitment to forge ahead with reforms. Important in this
               respect is the recent legislation allowing 100% foreign ownership in certain sectors as well as elimination of a variety of
               fines & reduction of transaction and service fees.

               Guided by the prudent directives of His Highness Sheikh Dr. Sultan Bin Mohammed Al Qasimi, Member of the
               Supreme Council and Ruler of Sharjah, the Emirate is set for further growth. In this issue of Al Tijara we will read that
               the renowned international agency Standard and Poor’s has confirmed Sharjah’s long-term and short-terms sovereign
               credit ratings at BBB+ and A-2 respectively and gave it a stable outlook. The agency indicated that its confirmation of
               the rating was due to Sharjah’s strong financial position and low risk exposure, expecting accelerating GDP growth in
               2020 based on flourishing non-oil business sectors.

               In this issue of Al Tijara, we will also read that the number of passengers travelling through Sharjah International
               Airport increased 12.9% during the first nine months of 2019 compared to figures of the same period last year.
               Moreover, we will read that the Sharjah-based Air Arabia has doubled its destinations 3000% in comparison to its five
               destinations when it started operating in 2003. We should also add that the carrier started its operations with merely
               2 aircraft, while it now has a fleet of 55 aeroplanes.

               Read the above and many other stories and articles in this December issue of Al Tijara.

               Happy Reading!

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