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Innovation and Sustainability Underpin Sharjah's Diversification Progress

News April 24, 2024

Sharjah’s productive ecosystem for technological innovation and its strategic emphasis on sustainable growth take centre stage in the latest report released by global research and advisory firm Oxford Business Group (OBG).

The Report: Sharjah 2023, explores the factors driving growth in the emirate’s non-oil sector, including a strategic focus on infrastructure projects that is helping to solidify its role as a key trade centre and tourism destination.

The publication highlights Sharjah’s commitment to innovation and sustainability, evident in the completion of the first phase of Sharjah Sustainable City and the development of clean technology solutions that have the potential to be replicated across the UAE and the broader region, such as the region’s first commercial-scale waste-to-energy plant.

The report also analyses Sharjah’s progress in enhancing the entrepreneurial ecosystem, creating a conducive environment for growth in the local knowledge economy and attracting investments in human capital and technology.

Elsewhere, the report looks at proactive measures that have been taken to create a business-friendly climate aligned with global economic standards, reflecting the emirate’s dedication to attracting international investments. The pivotal role of the local private sector in advancing economic development is also highlighted.

In the report’s coverage on financial services, it delves into financial innovation and increased technology adoption in the sector, aided by a fertile environment for financial technology start-ups.

The Report: Sharjah 2023 features insightful interviews offering diverse perspectives on Sharjah’s economic trajectory. High profile interviewees include HE Mohamed Juma Al Musharrkh, CEO of Sharjah FDI Office (Invest in Sharjah); Khalid Jasim Al Midfa, Chairman of Sharjah Commerce and Tourism Development Authority; Mohamed Khadiri, CEO of Bank of Sharjah; Hatem Al Mosa, CEO of Sharjah National Oil Corporation; and Ali Salim Al Midfa, Chairman of Sharjah Airport Authority. These interviews provide valuable perspectives on Sharjah’s economic trajectory and its diverse growth sectors.

Jana Treeck, OBG’s Managing Director for the Middle East, noted that the report highlight’s Sharjah’s economic resilience in the face of global challenges.

“This report chronicles the strategic post-pandemic journey undertaken by Sharjah to ensure diversified and sustainable growth. This is evident in the emirate’s dynamic ecosystem for generating and developing innovative technological solutions to local and global challenges,” Treeck added.

Commenting after the launch, Oliver Cornock, Editor-in-Chief at Oxford Business Group, noted that The Report: Sharjah 2023 illustrates the role of innovation and sustainability in powering Sharjah’s economic resurgence.

“Through in-depth insights and interviews with key stakeholders, the report demonstrates that Sharjah is emerging from recent global challenges as a resilient and forward-looking economy,” he noted.

The Report: Sharjah 2023 has been produced with Invest in Sharjah. It marks the culmination of more than six months of field research by a team of analysts from OBG. The publication assesses trends and developments across the economy, including those in macroeconomics, infrastructure, ICT, Tourism and Education, among others.

The Report: Sharjah 2023 is one of several highly relevant, go-to research tools being produced by OBG, which include Future Readiness and ESG Intelligence reports.

The Report: Sharjah 2023 is available in print and online through this link:
https://oxfordbusinessgroup.com/reports/uae-sharjah/2023-report/