Page 8 - Al Tijarah - December 2020
P. 8

“Invest in Sharjah” discusses mechanisms

                to promote sustainability of the investment

       49                                      environment

         The  World Association  of Investment
         Promotion Bodies  (WAIPA), in the
         Middle East  and North Africa, held  a
         virtual meeting,  chaired by Sharjah’s
         Foreign Direct Investment Office (Invest
         in Sharjah),  affiliate of Sharjah  authority
         for  investment  and  development
         (Shurooq), under the title "The  Future
         of Post-Corona  Investment Promotion
         Bodies". The meeting discussed policies
         for  investment promotion  bodies in
         the  Middle East  and North Africa in   Investment Promotion  Authority (IPA),   initiatives launched by the UAE and The
         response  to the  changes  brought about   and Amira Murad, Director of Relations   Emirate of Sharjah to address the Corona
         by the Corona pandemic and mechanisms   with Investors in the Public  Foundation.   pandemic, saying: “Sharjah has launched
         to promote the sustainability  of the   Investments  in Lebanon (IDAL),  Ahmed   a $1.1  billion comprehensive incentive
         investment environment, through the   Omeek, research analyst at WAIPA, and   program for all companies, including SMEs
         development of effective strategies.  a number of representatives of investment   and start-ups."
                                           promotion bodies in the region.
         The meeting  was chaired by Mohamed                                  He explained that the  office (Invest in
         Juma Al-Masharrakh, Executive Director   Mohamed Juma Al-Masharrakh said the   Sharjah)  provided consulting services
         of Sharjah Foreign Investment Office   seminar  was a valuable opportunity   to companies, to guide them on how to
         (Invest in Sharjah), President of  the   to draw on the expertise  of regional   take advantage of the incentive features
         World  Association  of  Investment  investment  leaders  on the  methods   provided by the government, in addition
         Promotion Bodies in the Middle East and   of various organizations to overcome   to the services of remotely renewing
         North Africa. It was attended by Postjan   the challenges posed by  the Corona   licenses  and registration, and facilitating
         Skellar, CEO of the  World Association   pandemic. He noted that Invest in Sharjah   the issuance of government approvals, and
         of Investment Promotion Bodies, Baligh   bureau is looking forward to collaborating   other procedures, Al-Masharrakh pointed
         Ben Sultan, President of the Tunisian   with the 54 MENA investment promotion   out that the office was able to facilitate
         Investment Authority, Abdelbasit Al   agencies, including  24  agencies in  the   the establishment of 11 new investment
         Ghanimi, Director General of the Foreign   Middle East, to meet these challenges.   projects worth  $134  million during the
         Investment Promotion Agency in Tunisia,                              first quarter of this  year, despite  these
         Haitham Wahidi, CEO of the Palestinian   Al-Masharrakh spoke about the specific   difficult circumstances.

              Sharjah Consulative Council reaffirms support

                                      of the local economy

         During its first meeting of the second   strive to facilitate the performance of   The  meeting was  presided  over by
         regular session of the 10th legislative   economic sectors and enhance their   H.E. Saif Mohammed Jassim  Al Midfa,
         term,  the  Financial,  Economic  and   competitiveness to overcome the   Chairman of  the Committee,  with the
         Industrial  Affairs  Committee  of  repercussions of the current global   participation of the committee members:
         the Sharjah Consultative  Council   health crisis by relying on best practices   Maryam Rashid Ahmed bin  Al-Sheikh,
         discussed its work plans which is to   and promising opportunities.  Abdullah Mohammed Nasser Al Owais,
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