(MENAFN- Khaleej Times) Â Sharjah's transport and logistics sector is expected to grow at 15 per cent annually over the next four years, driven by its fast growing sea-air traffic, according to a study released by the Sharjah Investment and development Authority (Shurooq).
"Transport and logistics is a very dynamic market in the Emirate, where the total market size reached Dh3.53 billion in 2012, out of which Dh1.28 billion worth is sea freight and Dh0.7 billion is air freight, offering rewarding investment opportunities for local and foreign investors," Marwan bin Jassim Al Sarkal, chief executive officer of Shurooq, said.
The transport and logistics industry consists of two-sub sectors, marine fright and airfreight, which have been experiencing a phenomenal growth due to major expansion plans and development projects.
Highlighting Sharjah's promising future, Al Sarkal said: "As a responsible investment authority with a mandate to stimulate the Emirate's economy, Shurooq is now focusing on expanding Sharjah's logistics infrastructure, taking advantage of the emirate's strategic location between Europe and the Far East as well as its direct access to the Gulf and the Indian Ocean." "This geographic location has led to a unique integration of land, sea and air links, offering a gateway to 160 countries serving 2 billion consumers, thus offering unbeatable logistical, warehousing and distribution advantages for investors," he said.
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