Invest in Sharjah to expand trade, economic horizons with Hungary

The Sharjah FDI office (Invest in Sharjah), an affiliate of the Sharjah Investment and Development Authority (Shurooq), is organising the ‘Sharjah Business Day in Hungary’ led by Sheikh Fahim Bin Sultan Al Qasimi, Chairman of the Department of Government Relations in Sharjah on June 17, 2022, at the Matild Palace, Budapest.

With an aim to promote investment opportunities in competitive sectors to potential investors and businesses from across Hungary and to highlight the range of services and facilities offered by various government organisations in the emirate.

The highlight of the Budapest meet, is a panel discussion held under the theme ‘Investment Opportunities in Sharjah’ which aims to strengthen the economic and business relations between Hungary and Sharjah.

Held in the presence of Saud Hamad Al Shamsi, UAE Ambassador to Hungary, Sheikh Fahim Bin Sultan Al Qasimi, Chairman of the Department of Government Relations in Sharjah, Mohamed Juma Al Musharrkh, CEO of Sharjah FDI Office (Invest in Sharjah), Marwan Saleh Alichla, Director, Investment Promotion & Support (Invest in Sharjah), Khawla Sayed M Al Hashimi, Director of Project Development (Shurooq), Hamad Obaid Al Shamsi, Regional Investment Promotion Manager (Invest in Sharjah), and members of the Hungarian Chamber of Commerce, and investors, entrepreneurs, industrialists, and established business houses in Hungary.

The panel discussion will explore trade and investment opportunities in key sectors poised for promising business growth in the region, highlight the ease of doing business in the emirate and focus on the competitive advantages Sharjah offers for commercial, industrial and tourism investments.

Apart from highlighting the emirate’s cost competitiveness, unique core strengths in diverse sectors, and the range of services offered by Invest in Sharjah and other government entities to enhance investment opportunities, the panel discussion will also shed light on the emirate’s distinctive strengths as the cultural capital of the Middle East.

Prominent members on the panel include Mohamed Juma Al Musharrkh, with the attendance of official’s representatives from Sharjah Media City (SHAMS), Sharjah Airport International Free Zone Authority (SAIF Zone), Sharjah Research Technology and Innovation Park (SRTIP), and Sharjah Chamber of Commerce and Sharjah.

Commenting on the upcoming visit, Sheikh Fahim Bin Sultan Al Qasimi, Chairman of DGR, said: “The UAE and Hungary share strong and deep-rooted cultural, trade and diplomatic ties.”

“The UAE is the largest trading partner of Hungary in the Arab region, and the robustness of the existing trade partnership has expanded the scope of cultural, economic and investment collaboration with Sharjah, renowned as a thriving global hub for trade and investment.

“The ‘Sharjah Business Day in Hungary’ will take forward our continued cooperation in diverse, high-growth sectors and maximise both economic and cultural bonds.”

For his part, Mohamed Juma Al Musharrkh, said: “As the investment promotion agency of Sharjah, we are committed to guiding investors to the tremendous opportunity and potential in Sharjah’s conducive business environment.

The panel discussion at ‘Sharjah Business Day in Hungary’ will further highlight Sharjah’s reputation as a pro-investor emirate and offer a comprehensive overview of investment opportunities across sectors for investors in Hungary looking to set up business in Sharjah.”

Sharjah DGR delegation visit:  As part of its continuing mission to strengthen bilateral investment and economic relationships between Sharjah and prominent cities of the world, a high-level delegation from the Department of Government Relations (DGR) in Sharjah will visit the Hungarian capital of Budapest from June 13 – 17 to discuss mutual investment opportunities and outline ways to strengthen the role of culture and heritage in advancing sustainable development.

The Sharjah delegation, led by DGR Chairman Sheikh Fahim Al Qasimi, will meet their Hungarian counterparts to gain a comprehensive overview of Hungary’s strides in promoting culture, creativity, and heritage as key pillars of a sustainable economy. Hungary’s arts and specialised museums are hailed as noteworthy models that reinforce the power of creativity in laying the foundations for achieving sustainable development and accelerating economic growth.

The delegation will also study and analyse how various economic sectors in Hungary complement each other to create a flourishing investment environment and explore ways to strengthen bilateral cooperation. The Sharjah delegation will deliberate with officials from Hungary’s economic institutions as well as meet with businessmen to discuss the scope for investment opportunities in the vibrant emerging sectors of the Hungarian economy.

Commenting on the upcoming visit, Sheikh Fahim Al Qasimi, Chairman, DGR, said: “Hungary is known for its rich history and pioneering journey in investing in human capital to boost competencies and attain sustainable economic growth. Under the vision of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, the emirate has also adopted a similar methodology to develop Sharjah into a futuristic city through investments in culture, heritage, and human capital.”