The Sharjah Chamber reviews investment cooperation with its counterpart in Hong Kong

Sharjah, April 28 / WAM / The Sharjah Chamber of Commerce and Industry, with an economic delegation from the Hong Kong General Chamber of Commerce, reviewed the investment cooperation relations and economic partnerships available between the two sides and the areas that can be focused on to serve businessmen and investors in both Sharjah and Hong Kong.

Ways to enhance and activate joint work in key and future economic fields and sectors were also discussed, especially in the sectors of renewable energy, technology, real estate and e-commerce.

This came during the meeting organized by the Chamber at its headquarters in Sharjah last Thursday, on the occasion of the visit of the Hong Kong delegation, in the presence of His Excellency Mohammed Ahmed Amin Al Awadi, Director General of the Sharjah Chamber, His Excellency Jonathan Lamport, Chairman of the Asia, Africa and Middle East Committee at the Hong Kong General Chamber of Commerce, and Abdul Aziz Al Shamsi, Assistant Director. General of the Communication and Business Sector at the Sharjah Chamber, Jamal Saeed Bu Zangal, Director of the Corporate Communications Department at the Chamber, Hamad Obaid Al Shamsi, Investment Director for Regional Promotion at the Sharjah Foreign Direct Investment Office “Invest in Sharjah”, and representatives from a number of government institutions and bodies in the Emirate of Sharjah, in addition to men. Businesses from major commercial, food and industrial companies in the UAE and Hong Kong.

During the meeting, the two sides discussed the opportunities available to businessmen from Sharjah and Hong Kong, to enhance more partnerships and coordination between investors and businessmen to exchange information, present areas of cooperation, and enhance the investment environment on both sides to create new business opportunities.

The Hong Kong delegation included a group of companies specialized in a number of strategic sectors such as renewable energy, real estate, food trade, financial services, building materials trade, health care, e-commerce, architecture, and the textile and fabric industry.

His Excellency Mohammed Ahmed Amin Al Awadhi stressed that the meeting comes within the framework of the Sharjah Chamber’s efforts to strengthen economic relations and the volume of trade exchanges between the emirate and global markets in the Asia-Pacific region, and to attract Hong Kong companies to work in Sharjah, in addition to contributing to the development of established bilateral relations between the Emirates. And Hong Kong, which has witnessed remarkable growth over the past years, as the volume of trade between the two sides reached $7.98 billion in the first half of last year 2023, an increase of 8.3% compared to the same period in 2022.

He pointed out that these statistics are considered a practical indicator of what can be achieved in the future based on the economic capabilities and potential of both sides, and the important strategic location they enjoy, as Hong Kong is a major center in the Belt and Road Initiative at the level of Asian countries, while the UAE represents a major gateway to the Middle East and North region. Africa.

For his part, Jonathan Lamport stressed Sharjah’s leading position at the regional and global levels, and that it is a preferred destination for the business community in Hong Kong, pointing out that the Asia, Africa and Middle East Committee is one of the Chamber’s commercial area committees and is responsible for providing programs and information to its members who wish to develop And strengthening trade relations with countries in the regions of Asia, Africa and the Middle East.

He stressed the Committee’s commitment to continuing its efforts to enhance bilateral trade and investment between Hong Kong and various countries of the world by holding forums and organizing events and meetings, noting that the Committee worked to expand its network of international relations by meeting with more than 100 economic and diplomatic delegations in addition to participating in foreign trade missions. .

For his part, Abdul Aziz Al Shamsi pointed out the importance of the meeting, which formed a distinguished platform to increase cooperation and support businessmen and investors on both sides to implement joint projects, develop trade exchange, and establish pioneering partnerships in various economic fields, as Hong Kong represents a rewarding investment option for local companies, especially in the energy and technology sectors. And real estate.

He explained that the Emirate of Sharjah provides many strategic advantages for companies in Hong Kong to expand in the region’s markets through the promising investment incentives that the Emirate provides to businessmen and investors from all over the world, to enable them to achieve more success and progress on its soil, stressing the Sharjah Chamber’s commitment to providing all support. And facilities for businessmen in Hong Kong to establish future economic partnerships, based on its strategic objectives of supporting business growth and promoting the Emirate of Sharjah as a global commercial center.

Hamad Al Shamsi reviewed before the Hong Kong delegation and businessmen the qualitative investment opportunities in the Emirate of Sharjah, the advanced investment environment witnessed by the Emirate, and the main sectors that constitute opportunities to attract foreign investments and emerging companies around the world to the Emirate’s markets, the most important of which are: tourism, culture, logistics, green technology, health care, human capital, innovation and manufacturing. Advanced agricultural technology.

He noted that the Emirate of Sharjah was able to attract foreign investments during 2022 at a value amounting to $291.20 million, and also includes about 60,000 small and medium-sized companies, calling on businessmen in Hong Kong to benefit from the exemplary business environment that characterizes the Emirate, which allows foreign investors to own property in a number of… Economic sectors by 100%.

At the conclusion of the meeting, the two sides stressed the necessity of exchanging delegations and visits and holding joint meetings in the future.