(MENAFN- Khaleej Times) Sharjah Investment and Development Authority, or Shurooq, on Monday signed a Memorandum of Understanding with Invest Hong Kong to increase foreign investment and business activities in their respective regions.
The MoU was signed by Shaikha Bodour bint Sultan Al Qasimi, Chairperson of Shurooq, and Simon Galpin, Director-General of Invest Hong Kong, at the Sharjah Chamber of Commerce and Industry.
The main objectives of the MoU are to share experience in promoting and attracting foreign investment, and to facilitate company referrals thus increasing business activity in Sharjah, the UAE, and in Hong Kong. It also aims to support inward investments referred by the partner agency with the set-up or expansion of their businesses.
Shaikha Bodour expressed her happiness to have entered into yet another highly influential and strategic investment alliance, emphasising that Shurooq is continually exploring new ways to promote Sharjah's investment opportunities and potentials to strengthen Sharjah's position as an ideal economic hub in the region.
Marwan bin Jassim Al Sarkal, CEO, Shurooq, said: "The UAE and Hong Kong are no strangers to each other. Trade relations between our nations have long been strong - in 2012 trade between the UAE and Hong Kong totalled in the region $27 billion, an increase of 30 per cent from 2011, and current projections place the expected trade between our countries at over $34 billion this year, making Hong Kong one of our most significant trade partners. The strength of our ties, however, lies in more than just trade 
figures."
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