The Report: Sharjah 2018

  • ID: 4701610
  • Country Profile
  • Region: United Arab Emirates
  • 132 Pages
  • Oxford Business Group
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Sharjah Boasts One of The Most Diversified Economies by Regional Standards, With No Individual Sector Accounting for More Than 20% of GDP

FEATURED COMPANIES

  • Al Thuriah Group
  • ARADA
  • Basma Group
  • Bee’ah
  • Sharjah Airport Authority
  • Zulekha Healthcare Group
  • MORE

Sharjah in brief

Accounting for just over 3% of the territory of the UAE, Sharjah is the federation’s third-largest emirate and has long played an important cultural and economic role in the region. Home to a growing network of free zones, the emirate punches above its weight in terms of commerce and is highly diversified by regional standards, with oil and gas contributing less than 6% to GDP and no individual sector accounting for more than 20%. The authorities have also been undertaking a range of measures to boost foreign investment flows in recent years, supported by competitive advantages such as strong connectivity and low operating costs by regional standards.

Profile:

  • Population exceeds 1.4m and continues to grow rapidly
  • Increased investment in cultural events and attractions
  • Sharjah Publishing City inaugurated in October 2017
  • GCC countries working to diversify their economies
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FEATURED COMPANIES

  • Al Thuriah Group
  • ARADA
  • Basma Group
  • Bee’ah
  • Sharjah Airport Authority
  • Zulekha Healthcare Group
  • MORE

SNAPSHOT

  • Sharjah in brief

PROFILE

  • Uniquely positioned: The emirate continues to leverage its geographical advantages, services and cultural attractions to spur development
  • Viewpoint: Sheikh Sultan bin Muhammad Al Qasimi, Ruler of Sharjah and Member of the UAE’s Supreme Council, on the importance of comprehensive and equitable development
  • Interview: Sheikha Bodour bint Sultan Al Qasimi, Chairperson, Sharjah Investment and Development Authority (Shurooq), on developing the country’s business environment through innovation
  • Reaching out: GCC member states pursue economic diversification by expanding and strengthening global trade ties
  • Interview: Pinarayi Vijayan, Chief Minister of Kerala, India, on growing economic and political partnership
  • Interview: Kairat Abdrakhmanov, Minister of Foreign Affairs of the Republic of Kazakhstan, on the burgeoning relationship between Kazakhstan and countries in the Middle East

ECONOMY

  • Diversified growth: Public revenue set to benefit from a new value-added tax and weaker dollar as fiscal deficit narrows
  • Interview: Marwan bin Jassim Al Sarkal, Executive Chairman, Sharjah Investment and Development Authority (Shurooq), on developing key growth sectors
  • Global players: The Sharjah Entrepreneurship Centre, universities and private firms are working to support start-up development
  • Interview: Najla Al Midfa, General Manager, Sharjah Entrepreneurship Center (Sheraa), on developing a support ecosystem for entrepreneurs, and small and medium-sized enterprises
  • Business Barometer: UAE CEO Survey
  • A new page: The inauguration of Sharjah Publishing City and other arts and culture initiatives set to promote intellectual output
  • Global village: Medium-term prospects suggest globalisation is set to continue for the foreseeable future

EDUCATION

  • Top of the class: An emphasis on quality is leading to innovations across the board and a focus on research at the tertiary level
  • Ringing the changes: Efforts to standardise provision and outcomes across the federation are under way
  • Aiming higher: Tertiary institutions focus on research and business links

TOURISM & CULTURE

  • Renewed growth: Performance indicators rebound as source markets new and old continue to strengthen
  • Interview: Khalid Jasim Al Midfa, Chairman, Sharjah Commerce and Tourism Development Authority, on leveraging comparative advantage and encouraging niche tourism investment
  • In bloom: Public and private efforts promote expansion of the ecotourism segment

FINANCIAL SERVICES

  • Holding steady: Recent and planned regulatory changes set to strengthen the industry
  • Making space: An overbanked market hints at consolidation
  • Roundtable: Varouj Nerguizian, General Manager, Bank of Sharjah; Sami Rashed Farhat, CEO, InvestBank; Ahmed Saad, Deputy CEO, Sharjah Islamic Bank; and Sheikh Mohamed bin Abdulla Al Nuaimi, Acting CEO, United Arab Bank, on banking trends
  • Fintech revolution: Tech solutions are driving the evolution of the sector landscape

INDUSTRY & ENERGY

  • Zoned in: The emirate is building on its reputation, establishing a positive environment for further growth
  • Interview: Hatem Al Mosa, CEO, Sharjah National Oil Corporation (SNOC), on the impact of new supplies in the oil and gas sector
  • Interview: Khaled Al Huraimel, Group CEO, Bee’ah, on sustainable energy and waste management initiatives Staying power: The public utility is forming new deals to guarantee a reliable gas supply for energy-production facilities

INFRASTRUCTURE & TRANSPORT

  • On the move: A strong regional position and major investment support port development, while road expansions are set to ease congestion
  • Interview: Ali Salim Al Midfa, Chairman, Sharjah Airport Authority, on the next phase of growth for the aviation segment
  • Growing wings: Significant site expansion to meet growing demand both in the low cost and business class segments

CONSTRUCTION & REAL ESTATE

  • Opening the door: Diverse investments are providing new spaces for businesses and residents to thrive
  • Interview: Sheikh Sultan bin Ahmed Al Qasimi, Chairman, Basma Group; and Chairman, ARADA, on mixed-use development trends
  • Interview: Raymond Khouzami, CEO, Al Thuriah Group, on increasing demand for residential property in Sharjah
  • Finding its niche: Transaction volumes rise amid diverse real estate project development
  • Transforming the landscape: An array of major projects are set to revitalise the emirate’s retail and residential offerings
  • Sustainable urbanisation: As urban populations undergo rapid growth around the globe, planners are striving to create efficient spaces

HEALTH

  • Growing strong: Legal changes, continuing expansion of provision and cutting-edge research define sector development
  • Interview: Taher Shams, Managing Director, Zulekha Healthcare Group, on improving private health care and expanding health tourism
  • Promoting pharmaceuticals: As health care provision expands, demand for both local and imported pharmaceutical products is rising

LEGAL FRAMEWORK & TAX

  • Al Farouk International Intellectual Property Rights Management
  • By the book: A detailed outline of legislation concerning investment and business in the emirate and the UAE
  • Encouraging investment: A guide to the emirate’s tax rates
  • Viewpoint: Eslam Farouk and Nehad Farouk, Co-founders, Al Farouk International Intellectual Property Rights Management, on ensuring the integrity of companies’ intellectual assets

THE GUIDE

  • A wealth of offerings: In addition to a unique location, the emirate possesses a variety of environmental and historical sights to explore
  • Rest easy: Select hotels to complete your stay Listings: Telephone directory of helpful public and private entities
  • Facts for visitors: Useful information for new arrivals
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  • Al Thuriah Group
  • ARADA
  • Basma Group
  • Bee’ah
  • Sharjah Airport Authority
  • Sharjah Commerce and Tourism Development Authority
  • Sharjah Entrepreneurship Center (Sheraa)
  • Sharjah Investment and Development Authority (Shurooq)
  • Sharjah National Oil Corporation (SNOC)
  • Zulekha Healthcare Group
Note: Product cover images may vary from those shown
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