Abu Dhabi – Mubasher: Sharjah's foreign direct investment (FDI) in a range of sectors skyrocketed 102% year-on-year in 2017, registering $1.622 billion (AED 5.97 billion), Sharjah FDI Office (Invest in Sharjah), the investment promotion arm of the emirate’s government, has said.
FDI growth in Sharjah created 2,815 new jobs last year, while all investments injected into the emirate – whether local, regional, or international investments– created over 5,000 jobs in the last four quarters, according to an official statement.
“Sharjah’s trade practices and FDIs policies have had a positive effect on productivity growth and job creation. In 2017, Sharjah attracted $819 million (around AED 3 billion), a staggering increase in comparison to $803 million (AED 2.94 billion) in 2016,” The Invest in Sharjah’s CEO Mohammed Juma’a Al Musharrkh revealed.
Indian, British, American, Chinese, and Saudi Arabian investors topped the international investors in Sharjah, investing $10.5 billion (about AED 39 billion) in various sectors in 2017.
“Sharjah underwent a 5% increase in its gross domestic product (GDP),” deputy director of the department of industrial affairs at Invest in Sharjah Mariam Nasser Al Suwaidi said.
