Quotes: 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



  MENA News Headlines
 Oct 7 2015 - Two held over blast on Maldives president's boatGulf Times
(MENAFN - Gulf Times) Maldivian authorities arrested two security personnel yesterday over an explosion aboard his boat that officials suspect was an assassination attempt, a minister said. Yameen's ...

 Oct 7 2015 - Facebook blow as EU court quashes transatlantic data dealGulf Times
(MENAFN - Gulf Times) Facebook and other Internet giants could be barred from sending European citizens' personal information to the US after the EU's top court on Tuesday struck down a key ...

 Oct 7 2015 - Al Noor in merger talks with S. Africa's Mediclinic Int'lMENAFN
(MENAFN) Abu Dhabi-based hospital operator Al Noor said that it is in merger talks with South Africa-based healthcare chain Mediclinic International as it looks to expand its operations. The ...

 Oct 7 2015 - Guatemala landslide toll climbs to 161Gulf Times
(MENAFN - Gulf Times) Beneath the mud and rock that engulfed the small Guatemalan town of Santa Catarina Pinula, search crews have found entire families who died huddled together after they were ...

 Oct 7 2015 - Coalition troops among 15 dead in Yemen attacks: UAEGulf Times
(MENAFN - Gulf Times) Rebel attacks on a hotel used by Yemen's prime minister and military installations in the southern city of Aden on Tuesday killed 15 Arab coalition troops and pro-government ...

 Oct 7 2015 - Israel demolishes attackers' homes in crackdownGulf Times
(MENAFN - Gulf Times) Israel on Tuesday demolished the homes of two Palestinians behind attacks last year after Prime Minister Benjamin Netanyahu pledged an iron fist against mounting unrest.The ...

 Oct 7 2015 - Abbas says does not want violence with Israel to escalateGulf Times
(MENAFN - Gulf Times) Palestinian president Mahmud Abbas said Tuesday he wanted to avoid a violent escalation with Israel, his most direct comments since unrest has spread in recent days and provoked ...

 Oct 7 2015 - Jewellery sales 'to surge' as Sharjah show opensGulf Times
(MENAFN - Gulf Times) The 39th MidEast Watch & Jewellery Show began at Expo Centre Sharjah, UAE, yesterday.The show, seen as a precursor to the landmark 40th edition that will be held in the first ...

 Oct 7 2015 - Freed Jazeera journalist Fahmy leaves Egypt for CanadaGulf Times
(MENAFN - Gulf Times) Mohamed Fahmy, a Canadian journalist with Al-Jazeera television freed from an Egyptian jail last month after a presidential pardon for broadcasting "false" news, announced ...

 Oct 7 2015 - Israel lifts restrictions on Muslim prayer at Al-AqsaGulf Times
(MENAFN - Gulf Times) Israel is to lift temporary restrictions on Muslim worship at Jerusalem's flashpoint Al-Aqsa mosque compound, imposed after the weekend killing of two Israelis nearby, police ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help