Press Release

Shurooq promotes Sharjah’s investment opportunities in Germany

April 25, 2012

The Sharjah Investment and Development Authority (Shurooq) has participated in the 2012 Hannover Messe Exhibition, Germany, a leading international business-to business industrial platform, which is taking place from 23rd to 27th April.
Shurooq is represented by Elie Armaly, Director of Business Development, and Mohamed Juma Al Musharrakh, Head of Investment Promotion, in a high-profile business delegation from the UAE Ministry of Foreign Trade. Commenting on Shurooq's participation, Elie Armaly, Director of Business Development, said the four-day event, with its attendance of more than 210,000 visitors, offered Shurooq an ideal B2B platform to network with key professionals and decision makers in the global investment industry and highlight investment opportunities in Sharjah to encourage investors to invest in the emirate's various sectors. "We held meetings with members of participating delegations and representatives of leading international companies, during which we explored wider horizons of cooperation and updated them on remarkable developments taking place in the emirate, thus making it a promising investment destination for potential investors. Our objective was to aid potential investors in understanding Sharjah's business potential and investment opportunities. For this purpose, we discussed Sharjah's competitive advantages, business environment and highlighted key sectors that offer significant investment potential", Armaly added." During its trip to Germany, Shurooq will also take part in the UAE Investment Forum, organized by the Department of Economic Development of Abu Dhabi, on 24th April, and which will be attended by Sheikha Lubna Al Qasimi, Minister of Foreign Trade. Mohamed Juma Al Musharrakh, Head of Investment Promotion, Shurooq, said: Our participation in the forum, which is dedicated to promoting investment opportunities in the UAE, comes against the backdrop of the growing trade and commercial relations between the UAE and Germany." "Our participation is aimed at identifying investment opportunities for German companies and investors in Sharjah, as well as at exploring the best ways for both Sharjah and Germany to benefit from these opportunities to further develop trade ties and create investment partnerships in the near future," he added. The UAE is the largest trade partner of Germany in the Arab world, and UAE-Germany trade ties have seen continues development, with the volume of trade between both countries amounting to $11 billion in 2011. The Emirate of Sharjah has weathered the global financial crisis relatively well due to the diversity of its economy and is recognized as a key hub for various sectors particularly manufacturing and industrial sectors. Following its participation in the investment forum, Shurooq will take part in the 5th German Arab Health Forum, which will be held on 25th and 26th April, with the attendance of Dr. Abdul Aziz Saeed Al Muhairi, from the Sharjah Health Authority. Shurooq's participation in the health forum comes as part of its ongoing efforts to identify and promote investment opportunities in all of the emirate's sectors, including the health sector. This sector accounted for AED 2.3 billion in 2010 and is expected to grow by 9.3% up to 2016 considering market conditions and needs for additional specialized centers. Shurooq was established in 2009 with the aim of achieving social, cultural, environmental and economic development on the basis of Sharjah's distinct Arab and Islamic identity, and to encourage investment by adopting the best international standards in providing quality services that help attract investors from the region and the world.Shurooq's key mission is to provide facilities and incentives to help overcome obstacles facing investment activities in the emirate, evaluate tourism-related infrastructure projects, and lay down the necessary plans to complete such projects.
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