The Sharjah FDI Office (Invest in Sharjah) has announced that total foreign direct investment is expected to exceed a record AED1 billion ($270 million) by the end of the year – an anticipated growth of 15 percent on 2016.
A statement said the figures are a testament to Sharjah’s focus on encouraging overseas businesses to establish and expand their assets in the emirate.
The forecast sees an increase on the AED912 million invested by foreigners last year, currently the most seen in a year.
Mohammed Juma Al Musharrkh, director of Sharjah FDI Office, said: "There can be no doubt that Sharjah has well and truly opened its doors to the global business community, wherever they are from and whatever their industry.
"One billion dirhams is more than a statistic, it is a milestone and one which reminds us of our past success and future potential. I believe that the calibre of our guests is an excellent gauge of the business to come.”
He added: “Reflecting this confidence, the tourism and travel sector is expected to grow to more than AED5 billion by 2019, while the transport and logistics sector is projected to reach AED7 billion.
"The healthcare sector is expected to touch AED8.76 billion, while the environment and sustainability sector is predicted to make great leaps ranging from AED87.6 billion to AED171 billion by 2019,” Al Musharrkh said.
The announcement came during Invest in Sharjah’s participation in the seventh edition of the Annual Investment Meeting (AIM 2017) at Dubai World Trade Centre.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.