UAE: Sharjah Attracts 24 FDI Projects worth $220 Million in 2020

UAE: Sharjah Attracts 24 FDI Projects worth $220 Million in 2020

The Year 2020 was arguably one of the most challenging years in human history. However, the pandemic has revealed the resilience of cities like Sharjah, which continued to grow amid crisis by allowing global investors leverage opportunities offered by its diverse economy, business-friendly environment and low operating costs, among other competitive advantages, a Wam news agency report said. There has been a 60 percent increase in the number of FDI projects between Q3 and Q4. While certain sectors were impacted, others witnessed remarkable growth, offering substantial investment opportunities for businesses in the fields of e-commerce, health and medical research, and personal protective equipment, among others. This boost in economic activity in new and emerging sectors led to the creation of 1, 117 new jobs in Sharjah, the study said. Over the year, Sharjah FDI Office (Invest in Sharjah), the investment promotion office operating under the Sharjah Investment and Development Authority (Shurooq), continued to bolster investment activity in Sharjah with a wide range of services and facilities, including a real-time analysis of local markets, which helped incoming businesses identify suitable opportunities. Investor confidence in Sharjah continued to grow in 2020, with 24 new investment projects worth $220 million 2020. Reflecting on