Shurooq looks to boost Chinese investment
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The Sharjah Investment and Development Authority (Shurooq), in collaboration with Chinese Business Council, will be hosting a Sharjah-China Business Roundtable. The event is part of its ongoing strategy to promote the Emirate for international investment.
The roundtable will be attended by HE Tang Weibin, consul general of People’s Republic of China and government representatives from both Sharjah and China. There will be presentations showcasing Sharjah’s appeal as an investment destination. The other authorities to be included at the round-table will be the Sharjah Commerce and Tourism Development Authority (SCTDA), Hamriya Free Zone Authority, Bee’ah – Sharjah Environment Company, and Sharjah Healthcare City.
HE Marwan bin Jassim Al Sarkal, CEO of Sharjah Investment and Development Authority (Shurooq), said: “This roundtable offers a tremendous opportunity to explore new avenues to expand burgeoning relationship between Sharjah and China. As well as having the second largest economy on the global stage, China’s outbound investment has surged to record levels and made the country the world’s third largest investor. Our objectives are to reinforce these existing business ties while nurturing new ones.”
There have been rapid increases in bilateral trade between China and Sharjah in recent years. The value of total trade exchanges – encompassing imports, exports and re-exports – jumped more than 18% between 2010 and 2012, from AED 3.3bn to more than AED 3.9bn. That equates to a compound annual growth rate of 8%.
Shurooq has engaged in a number of recent initiatives to encourage investment from China. Most recently, in January, the Authority welcomed a high-ranking delegation from the country headed by HE Tang Weibin, consul general of People’s Republic of China in Dubai. In mid-2012, a delegation from Shurooq embarked on a promotional tour of China to promote the Emirate’s offering to international investors.
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