Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Shurooq promotes Sharjahs investment potential in India  Join our daily free Newsletter

MENAFN Press - 02/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN Press) The Sharjah Investment and Development Authority (Shurooq), under the umbrella of the Ministry of Economy, have concluded its participation in the 2014 Partnership Summit, the annual flagship event of the Confederation of Indian Industry (CII), held from the 27th to the 29th of January in Bangalore, India



Organised in collaboration with the Ministry of Commerce and Industry, Government of India and now in its 20th edition, this year's summit was themed 'Emerging Global Value Chains: Building Partnerships' and Shurooq's delegation, which included HE Marwan bin Jassim Al Sarkal, CEO of Sharjah Investment and Development Authority (Shurooq) and Elie Armaly, Director of Business Development of Shurooq, made use of this opportunity to attend B2B meetings with more than 40 Indian and International companies



The Summit's inaugural address was delivered by the Indian Minister of Commerce and Industry Mr Anand Sharma, who spoke about the importance of globalisation and the role it has played in motivating companies to restructure their operations internationally. He further highlighted the challenges and opportunities emerging markets and developing economies face as they seek to integrate in the global arena



Speaking about the Summit, HE Marwan bin Jassim Al Sarkal said, "The UAE, and Sharjah in particular, and India have long maintained a strong and highly mutually beneficial relationship. In 2012 alone the trade between our two countries reached nearly 41 billion and even during the period from 2008 to 2012 “ which was marked as being a time of global economic downturn “ the total trade exchange between the Emirates and the UAE reached nearly 200 billion. Today trade between our two countries is close to US75 billion, having increased by 4.16% from the year before, (according to DGCIS, Kolkata) making the UAE, India's largest trading partner for the year 2012-13. Our aim with this participation was therefore to capitalise on this solid foundation in order to both solidify the relationships with Indian companies already in place and to explore new partnerships “ with a specific focus on the four key investment sectors that Shurooq has identified in Sharjah, namely travel and tourism, transport and logistics, healthcare, and environment.



The Shurooq CEO went on to point out that Sharjah is home to a large number of major Indian corporations, with 17,350 Indian companies registered in the Sharjah Chamber of Commerce and Industry, and that in 2012 the Chamber had valued exports and re-exports between India and Sharjah alone at AED 21.162 billion.



"Our key mission is to provide the facilities and incentives that are needed to promote investment in Sharjah, and as such the Partnership Summit, which brought together multiple stakeholders and policy thought-leaders, was and ideal platform." Al Sarkal Added



The three day summit explored a number of key issues, with topics under discussion including 'Regional Comprehensive Economic Partnership (RCEP) / ASEAN with a focus on Global Value Chains', 'Effective Partnerships for a sustainable future', 'Global financial infrastructure', 'Indian Economy and Globalization in the time of transition', 'Role of Multilateral Forums like G20 in building partnerships', 'Role of the Industry in building and IP Ecosystem', 'India and USA relationship', and 'Africa: A new emerging market'



"Sharjah has a great deal to offer foreign investors in general and investors from India in particular. The Emirate's strategic location, well developed consumer base, and low cost of business makes it an ideal base of operations for Indian business looking to either expand into the fast growing Middle Easter market or get a foothold into the European markets. Our goal at Shurooq is to ensure that these potential investors are made aware of Sharjah's distinct advantages and to facilitate their investment activities in the Emirate," Al Sarkal concluded



Established in 2009, Shurooq strives to encourage investment in the emirate of Sharjah by adopting the best international standards in providing quality services that help attract investors from the region and the world



Shurooq's key mission is to provide facilities and incentives to help overcome obstacles facing investment activities in the Emirate, evaluate tourism and investment related infrastructure projects, and lay down the necessary plans to complete such projects



About Shurooq
Shurooq

 






  MENA News Headlines
 Aug 31 2014 - Qatari Jaber Engineering Company signs USD274m contractMENAFN
(MENAFN) Al Jaber Engineering Company has signed a USD 274.42 million deal to contract facilities to support Qatar General Electricity and Water Corporation's Kahramaa pipelines for the Mega ...

 Aug 31 2014 - Saudi's economy is healthily expandingMENAFN
(MENAFN) The Saudi economy witnessed a healthy year causing businesses to expand and grow to meet the rising demand, Arab Times reported.Saudi Arabia has blossomed in its fiscal surpluses due to a ...

 Aug 31 2014 - Major Dubai hospital expansion to cost USD43.8mMENAFN
(MENAFN) The expansion of Rashid Hospital's Trauma and Emergency Centre, which will add 160 beds is set cost USD43.8 million and will be completed by July 2015, Arabian Business reported.Last year ...

 Aug 31 2014 - Gulf Air annual loss down 52 percent in H1MENAFN
(MENAFN) Bahraini Gulf Air announced a 52 percent decrease in annual losses and a financial performance that exceeded the airline's restructuring target by USD38.4 million, Arabian Business ...

 Aug 31 2014 - Omani SQP turns into tourist hubMENAFN
(MENAFN) The Sultanate of Oman began working on turning Sultan Qaboos Port into a tourist hub by transferring most commercial cargo activities from the Muscat-based port to Sohar, Times of Oman ...

 Aug 31 2014 - Qatar's New Port to start operations in 2016MENAFN
(MENAFN) The first phase of the New Port Project, which is set to cost USD7.4 billion, is set to be operational by the end of 2016, The Peninsula Qatar reported.The new port's initial capacity is ...

 Aug 31 2014 - Pakistan - So much for revolutionArab News
(MENAFN - Arab News) I fail to understand as to what Imran Khan and Tahirul Qadri are up to. It amuses me the way they are calling for a 'revolution.' Revolutions are not imposed on a nation. It ...

 Aug 31 2014 - Rebuilding Gaza will take 20 yearsArab News
(MENAFN - Arab News) JERUSALEM: An international organization involved in assessing post-conflict reconstruction says it will take 20 years for Gaza's battered and neglected housing stock to be ...

 Aug 31 2014 - Yemen clash kills 4 troops 13 'militants'Arab News
(MENAFN - Arab News) SANAA/ADEN: Clashes in Yemen between the army and militants killed at least 13 suspected militants and four troops Saturday military officials said.The officials said the ...

 Aug 31 2014 - New US sanctions inconsistent with nuclear talks says IranArab News
(MENAFN - Arab News) TEHRAN/DUBAI: Iran accused the US of duplicity Saturday for imposing new sanctions on organizations linked to Tehran's nuclear program despite long-running but active ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help