Abdullah bin Salem opens Sharjah Investment Forum 2024

SHARJAH, 18th September 2024 (WAM) — His Highness Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah, in the presence of Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Investment and Development Agency (Shurooq), inaugurated the seventh edition of the Sharjah Investment Forum (SIF 2024) on Wednesday.

The two-day forum is organized by Sharjah FDI Office (Invest in Sharjah) and has the theme “Futuristic Vision of Smart Economies”. The forum includes over 100 discussions and workshops led by over 80 global experts.

The opening ceremony of SIF 2024 was attended by Abdullah bin Touq Al Marri, Minister of Economy; Ahmed Obaid Al Qaseer, CEO of Shurooq; Mohammed Juma Al Musharrkh, CEO of Invest in Sharjah, as well as government officials, investors and the media.

Sheikha Bodour bint Sultan Al Qasimi said: “Sharjah is relentless in increasing its attractiveness to investors in regional capitals and global markets. Supported by a strong regulatory framework, strategic geographic positioning and world-class infrastructure, this vision is being realized through initiatives such as SIF 2024. As an international platform, SIF 2024 embodies Sharjah’s economic vision, attracting top-level experts to drive innovation in the regional and global economy. This forum is poised to make a profound impact, transforming key sectors of Sharjah’s economy and strengthening its role on the global stage.”

In his inaugural speech, Abdullah bin Touq, Minister of Economy, stated: “In the UAE, we are fortunate to have leaders who put the future first and are committed to improving the quality of life and well-being of their citizens. A great example of such leadership is His Highness Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjahwhich has contributed to significant economic and social development, making Sharjah a leading location for business and investment and strengthening the position of the UAE in the region and the world.”

On the country’s efforts at economic diversification, Abdullah bin Touq stressed: “The non-oil sector now accounts for about 74 percent of total GDP, reflecting significant progress in our journey towards economic diversification. Sharjah continues to be a key force in this regard, with almost 96 percent of its economic activity in non-oil sectors. The emirate boasts six dedicated free zones, flexible investment options, advanced infrastructure and excellence in manufacturing, trade and creative industries.”

He added: “The Sharjah Investment Forum has gained in importance compared to previous editions and is now a sought-after annual event that brings together key investors and decision-makers to discuss the latest investment trends and opportunities. We are confident that the results of this edition will be a milestone in our national efforts to attract investments in sustainable development projects, supporting the country’s goal of attracting US$150 billion in foreign investment by 2031.”

Ahmed Obaid Al Qaseer, CEO of Shurooq, emphasized that building a sustainable and resilient economic future requires the active participation of institutions, businesses and communities. He emphasized that achieving global transformation requires clear goals, strategic planning and the ability to exert significant influence.

He noted: “Under the leadership of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Sharjah has made significant progress in areas such as food security, sustainability and the circular economy, and has increased its attractiveness to local and international investors. These milestones reflect the UAE’s forward-thinking leadership and commitment to developing sectors such as digital infrastructure, further cementing the UAE’s position as a key player in driving the global shift towards smart, sustainable economies.”

He added: “Shurooq, under the leadership of Sheikha Bodour bint Sultan Al Qasimi, is committed to supporting Sharjah’s ongoing evolution by promoting diversity, sustainability and innovation. We are creating fertile ground for investment opportunities while building partnerships that attract capital, talent and expertise. Our focus is on supporting smart technologies and achieving shared goals. We are confident that SIF 2024 will be a catalyst for partnerships and collaborations, laying the foundation for a successful future.”

In his opening speech, Mohammed Juma Al Musharrkh, CEO of Invest in Sharjah, addressed the rapidly evolving global economic landscape, highlighting the transformative changes that are changing its key features. He noted that these changes require agile adaptation and innovation.

He said: “The most successful investment markets in the era of smart economies are those that are equipped to innovate and adapt, supported by a solid digital infrastructure and visionary projects. Today, we at Invest in Sharjah are proud to unveil the world’s first fully automated business licensing system, enabling investors and entrepreneurs to obtain a license in six minutes using AI technology. This initiative, developed in partnership with Microsoft and Sharjah Publishing City, is a key step in our adaptation to the new economy.”

Al Musharrkh concluded: “Investments today are key to shaping future economies that prioritize climate protection, resource conservation, public health, and social development. These future economies will offer solutions to urgent challenges while ensuring market stability. The future economy we envision will prioritize human capital as a driver of development and policy.”

In his keynote address, “Insight: Three Ways to Dominate Smart Economies,” renowned business strategist Grant Cardone said, “In today’s rapidly changing world, success lies in the ability to adapt, be resilient, and embrace change. Just keeping up is not enough; we must push boundaries, think creatively, and embrace new technologies. Setting ambitious goals and challenging conventional thinking forces us to find new solutions.”

He added: “By thinking bigger and setting bigger goals, we are creating an environment where adaptability becomes second nature. This mindset is key for companies and economies as we navigate the complexities of the emerging smart economy.”

Speaking about technological advances, Cardone added, “AI has changed the way we do business. It has allowed us to connect with millions of people in ways that were previously impossible. AI and new technologies are enabling companies to grow exponentially and reach unprecedented heights.”

SIF 2024 offers a comprehensive program to equip investors, entrepreneurs and start-ups with the knowledge and skills needed to keep up with rapid technological advances. Led by experts and economic leaders, the forum offers workshops, panel discussions and keynote speeches, providing opportunities for networking and innovative solutions to economic challenges.