Sharjah’s FDI Office (Invest in Sharjah) has reported significant progress in cementing Sharjah’s position as a premier industrial centre in the region.
Participating in the “Make it in the Emirates Forum,” Invest in Sharjah delivered a presentation outlining the emirate’s investment advantages. This presentation detailed Invest in Sharjah’s vision and the range of services they provide to assist investors in their growth and expansion efforts.
Sharjah has witnessed notable development in its markets, industrial zones, and free zones. This is evident in the issuance and renewal of 3,079 industrial licenses in 2023 alone, representing a 10% growth rate compared to the same period in 2022, according to the Sharjah Economic Development Department (SEDD).
In 2023, Sharjah’s manufacturing sector experienced a surge in foreign direct investment (FDI), attracting $18.9M. This growth underscores the ongoing success of the emirate’s economic diversification policies and the strategic allocation of local and foreign capital.
Marwan Saleh Alichla, Director of Investment Promotion and Support, emphasized that economic diversification and a balanced approach between sectors, with a primary focus on the industrial sector, are central to Invest in Sharjah’s policies and strategies. This focus is driven by the sector’s critical role in sustaining growth and advancing the overall economic structure’s resilience.
Alichla noted that the industrial sector is the second-largest contributor to the emirate’s GDP at 16.7%, and the emirate is home to 35% of the factories in the country.
He added, “There is significant interest from investors in Sharjah’s industrial and free zones thanks to the comprehensive and flexible business environment, the emirate’s strategic location, and its suitable infrastructure for SMEs and heavy industries. We continuously develop our programmes and strategies to support the emirate’s vision of achieving global competitiveness, positioning Sharjah as the 5th fastest-growing city globally in attracting FDI in 2023.”
