SHARJAH, 28th April, 2024 (WAM) — Sharjah Chamber of Commerce and Industry (SCCI) has engaged in high-level discussions with an economic delegation from Hong Kong General Chamber of Commerce (HKGCC) to explore potential avenues of investment cooperation between the two sides.
The discussions delved into the viable opportunities available to foster economic partnerships between the two nations, outlining strategic areas of collaboration that cater to the needs of businessmen and investors in both Sharjah and Hong Kong.
During a meeting held at the SCCI’s headquarters on the sidelines of the Hong Kong delegation’s visit, both sides also discussed ways to enhance and boost joint efforts in key potential economic sectors, with a particular focus on renewable energy, technology, real estate, and e-commerce.
The meeting was attended by HE Mohammed Ahmed Amin Al Awadi, Director-General of SCCI, and HE Jonathan Lamport, Chairman of the Asia, Africa, and Middle East Committee at HKGCC.
Also present were Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector in SCCI; Jamal Saeed Bouzanjal, Director of Corporate Communication Department at SCCI, and Hamad Al Shamsi, Regional Investment Promotion Manager at Sharjah Foreign Direct Investment (FDI) Office “Invest in Sharjah”.
The gathering also welcomed a number of government officials and representatives of Sharjah government agencies and institutions, alongside a crowd of businessmen from leading commercial, food, and industrial firms in the UAE and Hong Kong.
The visiting Hong Kong delegation featured representatives from various specialised companies operating in key strategic sectors, including renewable energy, real estate, food, financial services, building materials, healthcare, e-commerce, architectural engineering, and textile manufacturing.
Al Awadi emphasised that the meeting underscores the Sharjah Chamber’s steadfast commitment to bolster economic ties and trade exchange between the Emirate of Sharjah and global markets in the Asia-Pacific region.
He noted that the Sharjah Chamber seeks to attract Hong Kong-based companies to establish operations in Sharjah, thereby contributing to the cultivation of robust bilateral relations between the UAE and Hong Kong, which have experienced significant growth in recent years.
In the first half of 2023, the trade volume between the UAE and Hong Kong reached $7.98 billion, witnessing a notable growth of 8.3% compared to the corresponding period of the preceding year (2022).
For his part, HE Jonathan Lamport lauded the Sharjah Chamber for the warm welcome and reception it extended to the Hong Kong delegation during their visit to the emirate, reinforcing Sharjah’s stature as a pivotal economic and commercial hub, both regionally and globally, and as a preferred destination for the Hong Kong business community, in particular.
He elucidated that the Asia, Africa, and Middle East Committee, which is affiliated with the Hong Kong General Chamber of Commerce, is entrusted with introducing programmes, information, and insights to its members who seek to develop and enhance trade relations with countries across Asia, Africa, and the Middle East.
Underscoring the significance of the Sharjah Chamber meeting with the Hong Kong delegation, HE Abdul Aziz Al Shamsi pointed out that it served as a distinguished platform to enhance economic cooperation between the two nations.
It also helped businessmen and investors from both sides implement joint projects and ventures. This, in turn, would foster trade exchange between the two countries, facilitating the establishment of leading partnerships in various economic sectors.
Abdul Aziz Al Shamsi affirmed that Sharjah offers manifold strategic advantages for Hong Kong-based businesses to expand into the region’s markets. These advantages include lucrative investment incentives and promising opportunities tailored to businessmen and investors worldwide, empowering them to attain further success and progress within the emirate’s domain.
During the meeting, Hamad Al Shamsi, Regional Investment Promotion Manager at Sharjah Foreign Direct Investment (FDI) Office “Invest in Sharjah”, showcased to the Hong Kong delegation and business leaders the premium investment opportunities available in the Emirate of Sharjah.
He outlined key sectors offering lucrative prospects to attract foreign investments and startups from around the world to the emirate’s markets. These sectors encompass tourism, culture, logistics, green technology, healthcare, human capital and innovation, advanced manufacturing, and agricultural technology.
Hamad Al Shamsi added that the Emirate of Sharjah, which hosts around 60,000 small and medium-sized enterprises, secured foreign investments amounting to $291.20 million in 2022.