The 7th edition of the Sharjah Investment Forum (SIF 2024) wrapped up today, marking the end of two days of intense discussions on “A Futuristic Vision for Smart Economies.” The event brought together over 80 distinguished global speakers and featured more than 100 sessions, including keynote addresses, panel discussions, and interactive workshops.
This year’s forum saw a significant presence from Indian business leaders and investors, underscoring the growing economic ties between the UAE and India. Raghavan, Chief Representative of the Confederation of Indian Industry (CII) in the UAE, commented on the forum’s relevance, stating, “I found the Forum very useful in updating myself on the investment avenues and opportunities in Sharjah for Indian businesses and industries. Sharjah has already attracted significant Indian investments into both the Hamriyah Free Zone and the Sharjah International Airport Free Zone.”
Abdullah bin Touq Al Marri, UAE Minister of Economy, highlighted recent government initiatives aimed at attracting foreign investment. These include amendments to the Commercial Companies Law allowing 100% foreign ownership, updates to visa and residency systems, and the introduction of the Federal Law on Family Businesses. Al Marri emphasized that these measures are expected to further boost Indian investments in the UAE, particularly as businesses look to expand their reach into GCC and African markets.
A key session titled “CEPA: Unlocking New Horizons for Bilateral Trade and Investment” focused on the Comprehensive Economic Partnership Agreement between the UAE and India. Led by Ayoub Ahli, Advisor at the Ministry of Economy, and Lalu Samuel, Chairman of the Indian Business Council in Sharjah, the discussion highlighted CEPA’s role in enhancing market access across various sectors, including technology, agriculture, and manufacturing.
The session also emphasized CEPA’s importance for small and medium-sized enterprises (SMEs), positioning the UAE as a strategic gateway for Indian manufacturers. With over 3,000 Indian businesses already operating in Sharjah, speakers noted the potential for further growth, especially as India’s expanding middle class is expected to drive increased demand for UAE-made products.
The Sharjah Investment Forum, recognized as a leading investment conference in the MENA region, is organized annually by the Sharjah FDI Office. This year’s event covered a wide range of topics, including the latest developments in finance, renewable energy, future technologies, and the evolving skills required for success in the digital era.As the forum concluded, attendees left with fresh insights into the economic opportunities for cross-border collaboration between the UAE and India, reinforcing Sharjah’s position as a key investment destination in the region.
-Vinod Kumar (Dubai)
