Sharjah: The Sharjah FDI Office, known as Invest in Sharjah, has inked a memorandum of understanding with the Italian Trade Commission (ITC) to expand bilateral investment prospects between Sharjah and Italy.

The MoU was signed during Invest in Sharjah’s participation in the Sixth UAE-Italy Joint Economic Committee meetings, attended by Sultan Bin Saeed Al Mansouri, Minister of Economy; Luigi Di Maio, Italian Minister of Economic Development; and Marwan Bin Jasem Al Sarkal, executive chairman of the Sharjah Investment and Development Authority, Shurooq, along with representatives from both parties.

Mohammad Juma Al Musharrkh, CEO of Invest in Sharjah, and Stefano Nigro, Director of ITC’s Foreign Investment Department, signed the MoU.

The new agreement will boost investment in Sharjah, as the partnership will enable the growth of several Italian registered businesses in the emirate, estimated to be 260 in 2018, to-date.