Economic outlook for UAE good despite low oil prices


(MENAFN- Khaleej Times)According to recent figures over 65000 companies operate in Sharjahs private sector while exports from members of the Sharjah Chamber of Commerce and Industry exceeded Dh61.3 billion during 2014.

Sharjah — Experts and investors lauded the UAE government’s role in supporting the private sector during a recent event which was hosted by Sharjah Investment and Development Authority or Shurooq.

Shurooq’s key mission is to provide facilities and incentives to help overcome obstacles facing investment activities in Sharjah evaluate investment-related infrastructure projects and lay down the necessary plans to complete such projects.

According to recent figures over 65000 companies operate in Sharjah’s private sector while exports from members of the Sharjah Chamber of Commerce and Industry exceeded Dh61.3 billion during 2014.

Entitled “Bringing Government and Private Sector together” the majlis was held in collaboration with the Sharjah Chamber and attended by high-ranking official from several government entities investors representing the private sector and international trade missions and bodies.

Government officials at the majlis included Abdullah Sultan Al Owais chairman of the Sharjah Chamber; Abdullah Al Saleh Undersecretary for Foreign Trade at the Ministry of Economy; and Saud Salim Al Mazrouei director of the Sharjah Airport Free Zone Authority and Hamriyah Free Zone Authority.

The majlis was also attended by Theyab Farhan Al Rashidi Kuwait’s Consul-General and Walter de Blais’s Swiss Consulate in Dubai in addition to members of Sharjah Municipality and the Sharjah Chamber representatives from the private sector and a number of Shurooq officials headed by Ahmad Obaid Al Qaseer chief operating officer of Shurooq.

During the majlis which was moderated by Hussain Al Mahmoudi director-general of the Sharjah Chamber panelists highlighted the UAE government’s leading role in supporting the private sector’s development by putting in place the necessary legislative frameworks and facilities to enable it to achieve growth. Panelists also praised initiatives launched by different government bodies to increase the UAE’s competitiveness.


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