“Invest in Sharjah” consolidates the presence of Hungarian investors in Sharjah markets

Conclusion of the “Sharjah Business Forum in Hungary”

Sharjah: The activities of the “Sharjah Business Forum in Hungary”, organized by the Sharjah Foreign Direct Investment Office “Invest in Sharjah”, affiliated with the Sharjah Investment and Development Authority “Shurooq”, concluded in the Hungarian capital, Budapest, during which the Hungarian side, represented by members of the Chamber of Commerce and Industry, was launched in Hungary and Budapest, on the investment environment in Sharjah, and discusses prospects for expanding partnership opportunities in fast-growing business sectors.

The forum, held at Mathilde Palace, Budapest, was attended by His Excellency Saud Hamad Al Shamsi, Ambassador to the United Arab Emirates in Hungary, Sheikh Fahim Al Qasimi, Head of the Department of Government Relations in Sharjah, His Excellency Mohammed Al Musharrakh, Executive Director of the Invest in Sharjah Office, and His Excellency Hussain Al Mahmoudi, Executive Director of the Sharjah Research, Technology and Innovation Complex, Majid Al Mulla, Operations Director at Sharjah Media City “Shams”, and Abdulaziz Shattaf, Assistant Director-General of the Communications and Business Sector at the Sharjah Chamber of Commerce and Industry.

During the work of the Forum, the visions of the participants in the Forum agreed to improve the scope of bilateral commercial investments for small and medium enterprises and to develop sustainable and long-term cooperation between the two sides, based on the strong bilateral and economic relations between the emirate and Hungary, where 49 Hungarian companies are based in Sharjah.

The largest Arab trading partner

His Excellency Saud Hamad Al Shamsi, UAE Ambassador to Budapest, delivered a keynote address in which he highlighted the long history of cooperation between the UAE and Hungary, referring to the investment opportunities enjoyed by high growth rates in the Emirate of Sharjah, as it is an ideal environment to incubate business and help Hungarian investors grow and expand The scope of their business in the region.

His Excellency said: “The United Arab Emirates is Hungary’s largest Arab trading partner, with non-oil trade reaching $ 544 million by 2021. Relations can be further strengthened through trade and investment in Sharjah’s competitive and diversified economy to grow in areas of to pursue mutual interest.. “.

In his welcoming speech at the forum, Sheikh Fahim Al Qasimi, Head of the Sharjah Government Relations Department, emphasized the joint commitment between Sharjah and Hungary to consolidate relations between the two parties and expand economic horizons by innovating and technology in various utilize and integrate. sectors to achieve sustainable economic growth.

He said, “The joint efforts of both parties have led to strong and effective growth in the field of mutual trade and economic investment. From here, we look forward to increasing cooperation and facilitating partnerships in many fast-growing business sectors, such as the agriculture, food security, technology and innovation, logistics, tourism and culture, and water resources, energy, renewable energy and education management. As Sharjah is a global center for innovation and creativity, I invite investors in Hungary to the unique benefits and incentives “which stems from the emirate’s innovative and creative business environment, and its position as a major gateway to the Middle East, Asia and African markets.”

Competitive sectors

In the discussion session held during the forum entitled “Investment Opportunities in Sharjah”, in which representatives of Sharjah Media City “Shams”, the Sharjah Research, Technology and Innovation Complex, and the Sharjah Chamber of Commerce and Industry participated, His Excellency . Muhammad Al-Musharkh, Executive Director of the “Invest in Sharjah” office, confirmed that he highlighted the abundance of investment opportunities in various competing sectors in the emirate, with an emphasis on the package of integrated services and facilities that Sharjah government institutions provide to investors and companies.

Mohammed Al Musharkh pointed to the pioneering role of the Sharjah Office of Foreign Direct Investment in consolidating the emirate’s position as a thriving global center for business, capital and foreign investment. He said: “Sharjah supports responsible investment that stimulates the growth of priority sectors and promotes sustainable and innovation-based growth, as the emirate provides investors with the appropriate climate for growth and prosperity through six world-class free zones and advanced infrastructure that promotes innovation. entrepreneurs. “

Al Musharrekh added: “The (Invest in Sharjah) office provides an opportunity for Hungarian investors to communicate with various government agencies to facilitate public-private partnerships, while the Sharjah Investors Services Center (Said) provides an integrated set provide government solutions and services to investors and businessmen under one roof. ” .

Technology investment opportunities

His Excellency Hussain Al Mahmoudi, Executive Director of the Sharjah Research, Technology and Innovation Complex, in turn expressed the complex’s readiness to provide all facilities to Hungarian companies wishing to work and invest in the knowledge sector, which are considered ‘ a focal point on which the complex’s vision and mission are based through the support, encouragement and development of the innovation system Supporting applied scientific and technological research to carry out investment activities.

Al Mahmoudi spoke about the Sharjah Open Innovation Lab (SOILAB), which is the first applied incubator for emerging and innovative companies in Sharjah to manufacture prototypes, in addition to the Middle East Center for Additive Manufacturing, which was launched around the UAE aims to become a global center for 3D printing, and invites Hungarian companies to establish their businesses in Sharjah Innovation Park and experience the massive transformation of the global by-product manufacturing market.

Regarding the accelerator program, recently launched by the complex in its third version, Al Mahmoudi said: “The accelerator has supported entrepreneurs, innovators, small and medium-sized companies, start-ups and institutions to build business models that change the rules. and enter world markets successfully through a comprehensive and sustainable technical transformation. “

Investor Support Sectors

Speakers at the session also reviewed the most promising and supportive sectors for business growth in the region, the competitive advantages that the emirate offers with its various institutions to invest in the commercial, industrial and tourism sectors, in addition to the procedures and features provided by Sharjah to investors, which improves its presence on the ease of doing business index.

Majid Al Mulla, Director of Operations at Sharjah Media City “Shams” said: “Over an area of ​​2 million square meters (Shams), entrepreneurs, innovators and companies provide an investment environment with an integrated infrastructure, in addition to fostering innovation through advanced services that follow international standards To support our clients to transform their vision into meaningful media projects.

manufacturing sectors

In turn, Abdulaziz Mohammed Shattaf, Assistant Director-General for Communications and Business at the Sharjah Chamber of Commerce and Industry, said: “Sharjah provides a supportive environment for the manufacturing sectors, especially the advanced technology sector, as our innovations in sustainability and the circular economy made us the first city in the region to achieve Zero waste, and the emirate is expected to see rapid growth through the (300 billion project) launched by the state to develop and stimulate the industrial sector and its contribution to GDP by 2031. ”

On the sidelines of the forum, the “Invest in Sharjah” office team met with a number of Hungarian institutions, including: Budapest Chamber of Commerce and Industry, represented by Elk Nagy, President of the Chamber; Gabor case, International and Foreign Economic Councilor and Former Ambassador; Peter Babak, Head of the Office of International Relations; and from the Hungarian Chamber of Commerce and Industry, Andras Reeve, Vice President for International Affairs.

The agenda of their meetings in Hungary also included “Budapest Waterworks”; Metropolitan University; and John von Neumann University, the Hungarian Central Bank and the Pax-Keskun District Chamber of Commerce and Industry.

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