Page 9 - Al Tijarah - March 2021
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Sharjah Investment Tracker to provide statistics on

                           domestic and foreign investments


         Sharjah Foreign Direct Investment Office                             Sharjah FDI Office (Invest in Sharjah),   50
         (Invest in Sharjah),  an affiliate  of the                           said that the Sharjah Investment
         Sharjah  Investment and Development                                  Tracker is a rich source of information
         Authority (Shurooq), has  announced                                  on  the investment  sectors,  markets
         the launch of  the Sharjah Investment                                and domestic and foreign investments,
         Tracker to monitor Sharjah’s investment                              noting that this information plays
         landscape, provide data and statistics on                            a pivotal  role  in  providing  a  careful
         domestic  and foreign direct investments                             analysis of short- and long-term
         and furnish accurate analysis of investment                          investment trends.
         flows through the Tracker website.                                                                     SHARJAH ACTIVITIES
                                                                              Al  Musharrkh  said:  “Such  up-to-date
         Invest in Sharjah office developed the                               data will enable Invest in Sharjah to
         Tracker in collaboration with Wavteq,                                identify, promote, and prioritize
         a global consulting and technology firm                              target market sectors thereby
         specializing in  database development                                empowering potential investors and
         and  electronic  matrix management                                   key decision makers with relevant
         systems, as the investment portal will use   or new forms of investment, technology   information in the emirate and the
         a GIS (Geographic Information  System)   level  – low, medium,  or high,  source   wider region.”
         mapping tool to provide comprehensive   country of investment,  and finally,  the
         site-specific data about  the companies   sector in which investment is made, such   He added that the new Tracker is
         investing in the emirate.          as construction, retail, finance, agriculture,   an  effective tool  for  performance
                                            education, etc.,  and it is  updated daily   measurement,  to  generate  new
         The Tracker has different filters that   to  ensure a comprehensive and  reliable   investment leads, and  to  set realistic
         provide real time information on   database of investments in Sharjah.  investment  targets for all stakeholders
         investment  type  – foreign, domestic,                               which can, in turn, form investment
         reinvestment,  mergers and acquisitions,   Mohamed Juma Al Musharrkh, CEO of   attraction strategies.”

               Sharjah attracted foreign investments of 808


                                     million dirhams in 2020


         In 2020,  Shajah attracted 24 foreign  direct investment (FDI)
         projects worth Dh808.6 million ($220 million), creating 1,117
         new jobs, according to a study on the annual performance of
         Sharjah in  the foreign  direct  investment sector conducted  by
         Wavteq.

         The study showed that foreign direct investment attracted by the
         emirate increased 60% in the second half of 2020 compared to
         the first half, pointing out that the pandemic affected some sectors
         but showed the importance of other sectors that provided great
         opportunities for investment and business in e-commerce, health   due to  the Corona  pandemic, Sharjah's economy  has proven
         sector, medical  research  and personal  safety  products, which   resilient  in adapting to the  health  crisis  and has  been  able  to
         contributed to the  advancement  of economic activity in the   continue to grow by encouraging international investors to find
         emirate among a number of emerging sectors.         promising opportunities to  expand their businesses  and  take
                                                             advantage of the emirate's economic diversification approach and
         Mohamed Juma Al Musharrkh, CEO of Sharjah FDI Office (Invest   its investment-supporting environment, as well as low operating
         in Sharjah), said that despite the pressure on global FDI flows   costs and other competitive advantages.
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