SHARJAH, (Pakistan Point News - 30th Sep, 2018) As part of the latest in a series of ongoing global networking efforts to showcase the strength of Sharjah’s economy as a haven for foreign investors in its diverse economic sectors, a high-level delegation from the emirate, led by Sheikh Fahim bin Sultan Al Qasimi, Chairman of the Department of Government Relations of Sharjah, recently completed a visit to Boston, USA.
A business seminar, organised by the Sharjah FDI Office, also took place in the city, and provided strategic and personalised prospects to Boston-based investors in Sharjah’s unique and leading investment climate.
The delegation’s visit occurred, in light of recent developments between the UAE and Boston, where in 2016 it was announced that the UAE opened a Consulate General in Boston - its third in the United States - to promote bilateral relations and enhance US-UAE cooperation throughout New England.
Furthermore, in 2015, Massachusetts exported over US$150 million in merchandise and goods, becoming the 21st largest exporting state to the United Arab Emirates, with the state also benefiting from UAE imports, with $17 million of goods imported during 2015.
According to a recent SelectUSA report, the UAE is the seventh fastest-growing source of foreign direct investment, FDI, in the United States. Emirati FDI in the US grew from $16,699 million in 2011 to $27,480 million in 2015. The top industries in the US for Emirati FDI are financial services, transportation, fossil fuels, communications and aerospace.
Among prominent attendees were Salem Alshamsi, Consul-General of the UAE in Boston, and Danny E. Sebright, President of the US–UAE Business Council. Representing Invest in Sharjah during the seminar were CEO Mohammed Juma Al Musharrkh, and Investment Promotions Manager, Marwan Alichla.
Attendees and participants were presented with an opportunity to identify areas of bilateral business interests and ways in which Invest in Sharjah and allied entities representing Sharjah’s government can help American businesses seek opportunities in the emirate and realise them in profitable and sustainable ways.
During his opening remarks Salem Alshamsi said, "It’s truly an honour and an opportunistic occasion to have Sharjah in Boston, under a delegation led by Sheikh Fahim Al Qasimi, and explore market-leading opportunities with Boston-based businesses and establishments.
"Technology, robotics, healthcare and construction are among the key interests and outbound investments Boston-based companies see in Sharjah. With leading establishments, such as Optimus Ride, Greentownlabs and Mass Robotics, Boston has become a global city among the A.I. and Technological industries."
Sheikh Fahim Al Qasimi added, "The long-standing political, and economic relationship between the USA and the UAE is something that we have celebrated during this visit. This bilateral relationship is important to Sharjah, and we aim to continue, and highlight the important opportunities that exist in investment between our two cities."
"With common values between Sharjah and Boston, we look forward to developing bridges of culture, education and innovation between our students and our cultural institutions and entrepreneurs in the future," he continued.
Commenting on the business seminar, Sheikh Fahim Al Qasimi expressed his pleasure at collaborating with the UAE Consulate and Invest in Sharjah in organising the Sharjah Boston Business Seminar, noting, "We aim to boost our business relationships, and I am very pleased to witness the recently growing activities between the two sides."
He went on to say that Invest in Sharjah has been spearheading its collaboration with public institutions and private companies, to help guide businesses and facilitate investment growth across all sectors, with a focus on travel and leisure, transport and logistics, healthcare, environment, education and light manufacturing.
