The UAE marches towards the next 50

It is a known fact that the investment ecosystem in the UAE has progressed at an unprecedented speed over the past 50 years, since the nation’s formation in 1971. Our country is a preferred destination for investors and businesses from around the world with ambitions in a spectrum of sectors, and ranked 25 in the World Economic Forum’s Global Competitiveness Report 2020.

So, for a nation that already enjoys a firmly established global reputation in the business and investments sector, what could possibly be a future goal? A goal we can pursue and fulfil in the next 50 years?

The answers to these questions have started to surface with the unfolding a global health pandemic in 2020. The UAE was among the first few nations to pivot and quickly adapt to rapidly changing market requirements — both business- and customer-centric.

Moreover, our leadership’s vision to contribute fully to the attainment of UN 2030 Sustainable Development Goals (UN SDGs) had already put us on a path of attracting responsible, long-term investments, and therefore, helped us quickly make the required transitions.

In the past couple of years, the UAE has seen exponential growth in investments in the sectors of agritech, food security, EdTech, healthtech, e-commerce, social entrepreneurship, renewable energy, space and astronomy, ecotourism and manufacturing. These sectors will help us shape a more sustainable, brighter and inclusive future for the world — a mission that is being collectively pursued by a series of milestones achieved all across the UAE.

By offering leading global platforms to talents, governments, the private sector and other great minds, and by leading by example — Sharjah’s economic diversification, for instance, is reflected by a non-oil GDP of 96 per cent — the UAE is shaping the next 50 years of the global investment landscape to ensure the world is ‘future ready’.

Apart from offering long-term profitability and sustainability, more prospects to invest in the aforementioned sectors will be transformative for the investment sector itself as it will help shape a better world with more opportunities for everyone to thrive.

Under the continued guidance and directives of His Highness Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, Sharjah will be attracting world-class investments in the heritage-inspired hospitality and ecotourism sectors, as well as additional sectors such as retail, real-estate, e-commerce, edtech, technology and many more, which the Sharjah Investment and Development Authority (Shurooq) has contributed substantially in spearheading a number of major projects across the emirate.

Moreover, our six specialised free zones will continue adding to their appeal and ease of doing business in an expansive gamut of sectors including health care, media, research and development, entrepreneurship, light manufacturing, publishing, education, retail and real estate, among others.

With a winning plan in place, the ‘UAE Centennial 2071’, and a visionary leadership in charge of execution, I am certain we will reach our goal of becoming the world’s best country by 2071. Shurooq is excited to be part of this journey and committed to contributing fully to it.

As the UAE marches towards the next 50, I congratulate our beloved nation on its spectacular achievements and look forward to seeing all seven emirates continue developing their unique business and investment identity.

Marwan bin Jassim Al Sarkal is the Executive Chairman of Shurooq