SHARJAH — Sharjah Investment and Development Authority (Shurooq) has signed a Memorandum of Understanding (MoU) with Oxford Business Group to conduct an in-depth study on the emirate’s economic landscape, with the report to form the basis of the emirate’s ongoing investment promotion strategy.
The ‘Sharjah Report 2016’ will outline the investment opportunities in Sharjah and provide an overall picture of trends and business prospects in the emirate. It will also give detailed information relating to Sharjah’s efforts in economic diversification, which is attributing to the robust growth being witnessed by most sectors in the emirate.
The MoU was signed on the sidelines of Shurooq’s participation in the Arabian Travel Market (ATM 2016), which is currently taking place at the Dubai International Convention and Exhibition Centre. The agreement was signed by Marwan bin Jassim Al Sarkal, CEO of Shurooq, and Jana Treeck, Manager Director for Middle East at Oxford Business Group.
Under the terms of the agreement, Oxford Business Group will benefit from Shurooq’s expertise in conducting the study and will utilize its sources and statistics in the compiling of the final Sharjah Report 2016, which is intended to be a comprehensive guide to all economic aspects of the emirate.
Speaking about the importance of the report, Al Sarkal said; “Shurooq continuously strives to improve the business environment in Sharjah and boost investors’ trust by providing an accurate picture of its investment reality. As a result of Shurooq’s ceaseless efforts in this area, we have noticed a remarkable growth in the flow of investments into Sharjah and an increase in investors’ trust over the past few years.”
He added that Sharjah’s economy will more likely continue to see continued growth over the next few years supported by the developed performance of various sectors in the emirate, due to its resilient and diversified economy, which will help it avert risks associated with reliance on a single sector.
“The signing of the MoU with Oxford Business Group aims to provide a reliable and transparent source of information, data and important economic figures about all sectors that make up Sharjah’s GDP.”
Jana Treeck, Manager Director for Middle East at Oxford Business Group, said; "The important measures that have been implemented to diversify Sharjah's economy over the past years and the efforts made by the emirate to firmly establish and solidify stability and economic growth, send reassuring messages to local and international investors."
The Sharjah Report 2016, published in English, will be distributed among international investors and business leaders, and will serve as a guide for all those who want to learn more about all aspects of the emirate's economy, including macroeconomics, infrastructure and developments across its sectors, such as finance, industry, trade, service, energy, environment, tourism, education, health, security, real estate, transport, logistics, agriculture and media.
