A stunning view of Sharjah, a key attraction for local and global investors.

Staff Reporter, Gulf Today

Sheikh Mohammed Bin Saud Al Qasimi, Chairman of Sharjah Finance Department (SFD), indicated that the General Budget of the Emirate has adopted many strategic and financial goals and priorities, which reflected the lofty directives of His Highness Dr Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah and his comprehensive and renewed vision, as well as the directives of the Executive Council and the strategic vision of the SFD.

The move works to achieve the highest levels of financial sustainability and the efficiency of managing government financial resources and promoting the Sharjah’s competitiveness in various economic and social fields, infrastructure and support the capabilities of government agencies in providing government services according to indicators set by the performance budget applied in the Government of Sharjah, as well as strengthening strategic partnerships with the private sector and providing incentive packages that ensure them to continue advancing the wheel of growth, development and development for Sharjah, developing techniques for financing the general budget in search of the best financing opportunities available internally and externally to ensure the financial sustainability of the government.

Sheikh Mohammed Bin Saud Al Qasimi added: “The general budget for the year 2023 is a budget with two dimensions, which are a dimension of economic and social development and infrastructure, and the other dimension is strategic, represented in developing and strengthening the financial sustainability of the government, as it adopted strategic priorities in the field of stimulating the emirate’s economy by granting discounts and reviewing,

in many service fees to reduce the cost of business for customers and investors, the budget also focused on providing many developmental and social requirements to ensure the achievement of economic growth rates, which contribute to strengthening the role of Sharjah on the regional and global economic map.

Ensuring financial stability and improving the level of competitiveness of the Emirate by providing distinguished financial and strategic services and taking into account the level of providing an attractive environment for local and international investors, and providing a tourist environment in various fields, including cultural, heritage, therapeutic, scientific and recreational tourism, and that all data, indicators and results are within international financial standards in terms of inflation rates, sectoral spending and the rest of the macroeconomic indicators, as well as strengthening policy frameworks for controlling and rationalizing government spending.

Sheikh Mohammed Bin Saud Al Qasimi said: “The budget reinforces the emirate’s strategic direction in developing infrastructure in vital facilities and areas, preserving the environment and public health, and expanding the role of tourism in the emirate through tourism and service projects that were supervised by His Highness the Ruler of Sharjah, which have achieved and will achieve added value” for the Emirate as an effective station for tourism, scientific and cultural attractions, and laying the foundations for a promising investment environment, developing areas of investment in human resources and increasing employment opportunities, which is one of the strategic priorities of His Highness the Ruler of Sharjah, and working hard to support government agencies financially and provide all necessary financing requirements to enhance their capabilities in implementing their strategic and operational initiatives and projects.

It also ensures the achievement of the best-distinguished services for citizens and residents in all areas of life per the best standards and practices that achieve the well-being and happiness of society, where Sharjah has a distinguished position on the global cultural, scientific and tourism map, in

 addition to the fact that Sharjah’s attainment of this distinguished position is a result of the strategic vision of His Highness Dr Sheikh Sultan Bin Mohammed Al Qasimi for cultural and civilizational creativity and other achievements that we are all proud of.

For his part,  Waleed Al-Sayegh, Director General of the Sharjah Finance Department, stressed that at a time when the world is witnessing economic and financial developments that may be reflected in cases of financial and economic instability in many countries as a result of many international economic practices, including high inflation rates and an increase in interest rates.  It leads to economic stagnation and limits the investment and financing capabilities of many international and local economies.

The Emirate of Sharjah is a living and interactive part of the international and local environment. Therefore, the Sharjah government, through the general budget, has taken into account these challenges and is working also in two dimensions, it achieves financial sustainability and enhances economic competitiveness, in addition to working to provide social and employment requirements and needs, and enhances the government’s capabilities in building and developing the emirate’s infrastructure, as the process of implementing capital projects and initiatives continues.