Participants at the Sharjah Foreign Direct Investment (FD]) Fora m 2016, discussed the challenge; faced by the global economy that prompted the decisionmakers to diversify sources of national income. They unanimously agreed during the session titled "Beyc nd Oil Benefiting from Investment C pportunities in the UAE," that the knowledge economies represent "new oil." The participants also praised policies pursued by the country to diversify sources of national .ncome by relying on inno'iation and supporting young They stressed that the UAE has introduced to the world x unique economic experience through which s celled human resources and technology were harnessed to double the economic growth and reduce the dependence on oil. The participants also agreed that the UAE is an ideal centre for hi. siness in the region, praising the policies pursued by the country to diversify sources of national income by relying on innovation and supporting young entnTreneurs. They stressed that the post-oil era requires taking into account many things, most importantly, the ability to cope and adapt to the new economic order as well as the need to support young entrepreneurs and investment in human capital, creation of more opportunities for the establishment of more small and medium enterprises, and rely extensively on innovation and creativity. The second session titled, "Harnessing the Potential of Investment in the Transport and Logistics Sector in the UAE to meet the Growing Demand for Commercial Activities," highlighted the role of the free zones and advanced infrastructure including air and sea ports provided by the state in strengthening the position of the UAE as a leading global air shipment, and even expected to become the largest globally soon. Saud Salem Al Mazrouei, director of the Free Zone of Sharjah International Airport and Hamriyah Free Zone Authority and a number of corporate managers attended the session. Al Mazrouei demonstrated Al Hamriya Free Zone experience, explaining that during the past two years the free zone encouraged logistics companies that have become sources of the most basic services to various sectors of the free zone. He emphasised that the UAE despite the drop in oil prices has been able to build a network of roads and bridges, and has not so far cancelled any infrastructure projects. RELATED STORY ON PAGE 03 SHARJAH / EMIRATES BUSINESS 'Sharjah is open for business' that was the message delivered by HE Marwan bin Jassim Al Sarkal, CEO of Sharjah Investment and Development Authority (Shurooq) during his closing address at the Sharjah Foreign Direct Investment Forum (Sharjah FDI Forum 2016), which concluded on Thursday at Al Jawaher reception and convention centre in Sharjah in the presence of Sheikha Bodour hint Sultan Al Qasimi, Chairperson of Shurooq and high level business and investment executives and dignitaries. Organised by Shurooq in collaboration with the UK's Financial Times and fDi Magazine, the two-day Sharjah FDI Forum was held under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah. The second edition of the annual foreign direct investment (FDI) forum brought together business leaders, government officials and representatives of public sector organisatio is from across the world to exanine the challenges and opportun ties for FDI in the UAE in gene -al and Sharjah specifically in light of current economic conditions. "FDI plays a key role in developing economic relations on a global scale and Sharjah is striving to be a leader in attracting investmer t to the region. This is why we hosted the MENA region's largest investment and financial fort m. We wanted to inform participants on the best practices that can maximise their business growth and draw attention to the emirate's premi am facilities and services," said Al Sarkal. "His Highness Sheikh Jr. Sultan bin Muhammad Al Qasimi started the second "Sharjah FDI Forum by demonstrating the most inspiring definition of FDI, which referenced not onleconomic benefits but also the positive cultural, artistic and literary impact it has on societies around the world. His wise interpretation of FDI growth and how it serves as a key driver to the development of civilisation reflects what Sharjah is and always will be," he added. Sharjah FDI Forum 2016 was organised to play a key role in allowing investors business leaders and other stakeholders access the most dynamic insights, services and legislations, with the goal of promoting Sharjah as a being a gateway for international exhansion. Among the programme of activities were key note addresses, panel discussions, presentations and success story case studies. Insights included work culture equality, the attraction of conservatism, how to facilitate cross-border expansion and the importance of economic diversification. "Sharjah FDI Forum 2016 looked at opportunities beyond oil, emphasising how the UAE and Sharjah have created the most fertile conditions for global businesses by operating premium FDI policies to attract global foreign investors. These conditions were highlighted by multiple speakers during the event who have successfully established their businesses from Sharjah, in the process revealing the most innovative practices being implemented in the emirate and how these have boosted capital for companies operating in and out of Sharjah and the UAE," added Al Sarkal. Image(s) text: FDI Forum 2016 concludes on a high note `Sharjah strives to be leader in attracting; business to region' Says Marwan bin Jassim !a Sarkal, CEO of Shurooq, adding foreign direct investment plays a crucial role in developing economic relations on a global scale Marwan bin Jassim Al Said, CEO of Sharjah Investment and Development Authority (Shurooq), during his closing Eddress at the Sharjah Foreign Direct Investment Forum (Sharjah FDI Forum 2016), in Sharjah on Thursday Sharjah FDI Forum looked at opportunities beyond oil, emphasising how the UAE and Sharjah have created the most fertile conditions for global businesses by operating premium FDI policies to attract global foreign investors Marwan bin Jassim Al Sarkal, CEO of Shurooq Sharjah FDI Forum 2016 was organised to play a key role in allowing investors, business leaders and other stakeholders ac cess the most dynamic insights, services and legislations, with the goal of promoting Sharjah as a being a gateway for international expansion

Date: 
Friday, September 30, 2016
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