The Sharjah FDI Office (Invest in Sharjah) has reported significant progress in bolstering the emirate’s position as a leading industrial hub in the region. In 2023, Sharjah’s manufacturing sector attracted USD 18.9 million in foreign direct investment (FDI), reflecting sustained growth fueled by economic diversification policies and the strategic allocation of local and foreign capital, which has enhanced the resilience and efficiency of Sharjah’s industrial landscape.
Additionally, Sharjah has seen notable development in its markets, industrial zones, and free zones. According to the Sharjah Economic Development Department (SEDD), 2023 saw the issuance and renewal of 3,079 industrial licenses, marking a 10% growth rate compared to the same period in 2022.
This announcement was made during Invest in Sharjah’s participation in the third edition of the Make it in the Emirates Forum, held on May 27-28, 2024, at the Abu Dhabi Energy Center. The event was organized by the Ministry of Industry and Advanced Technology (MoIAT) in collaboration with the Abu Dhabi Department of Economic Development (ADDED) and ADNOC.
The Invest in Sharjah delegation, led by Marwan Saleh Alichla, Director of Investment Promotion and Support, included Hamad Al Shamsi, Regional Director of Investment Promotion, Salim Al Musharrekh, and Fatima Al Shamsi from the Investment Promotion Department. At the forum, Invest in Sharjah’s booth highlighted the emirate’s commitment to economic diversification and its capacity to attract foreign investment. It showcased how the establishment of new factories and the issuance of industrial licenses reflect investor confidence in Sharjah’s business-friendly environment and the opportunities it offers for industrial growth.
Industrial sector’s contribution to Sharjah’s GDP
Marwan Alichla underscored that Invest in Sharjah prioritizes economic diversification and a balanced approach across sectors, with a particular focus on bolstering the industrial sector. This strategic emphasis is driven by the sector’s crucial role in sustaining growth and enhancing the overall economic structure’s resilience. Alichla highlighted that the industrial sector stands as the second-largest contributor to the emirate’s GDP, accounting for 16.7%, and Sharjah hosts 35% of the country’s factories.
Furthermore, he remarked, “Investors are showing significant interest in Sharjah’s industrial and free zones due to the emirate’s comprehensive and adaptable business environment, strategic location, and infrastructure tailored for SMEs and heavy industries. We continually refine our programs and strategies to align with the emirate’s vision of achieving global competitiveness, positioning Sharjah as the fifth-fastest-growing city globally in attracting FDI in 2023.”
The forum acts as an annual platform for decision-makers, officials, and investors to exchange knowledge and insights on Industry and Advanced Technology in the UAE.
