On a comprehensive two-nation visit spanning the Republic of Belarus and the Russian Federation, Sharjah FDI Office (Invest in Sharjah), has engaged with leading investment agencies, banks and development institutions, responding to a growing interest in Belarusian businesses and investors to establish their regional presence with an operational base in Sharjah. During these visits, Invest in Sharjah shared key insights on latest investor trends, introduced promising investment prospects in the emirate’s diversified economy, and explored robust strategies for successful joint ventures.

Led by Ahmed Obaid Al Qaseer, CEO of the Sharjah Investment and Development Authority (Shurooq), and Mohammed Juma Al Musharrakh, CEO of Invest in Sharjah, the visiting delegation met with officials from prominent entities, including the Belarusian National Agency for Investment and Privatization, National Centre for Marketing and Price Study, Belarus Hi Tech Park, and the Development Bank of the Republic of Belarus.

Invest in Sharjah recognises the immense potential in strengthening investment relations with Belarus, given its thriving modern economy characterised by high-performance sectors that align seamlessly with Sharjah’s growth and diversification goals. In 2021, the trade turnover between Belarus and the UAE amounted to US$ 79.9 million, while the volume of bilateral trade in services amounted to US$ 211.5 million.

Commenting on the visit, Ahmed Obaid Al Qaseer stressed that Belarus had shown great interest in the emerging investment opportunities resulting from Sharjah’s comprehensive development journey. He pointed out that the emirate’s strategic policies to promote diversity and employ modern technology in developing vital sectors such as agriculture, manufacturing, healthcare, and education have always yielded new partnerships between the emirate and the world’s leading economic centres.

The CEO of Shurooq said that Minsk is the leading industrial centre in Belarus and one of the most important industrial and commercial centres globally, being the base for factories for heavy machinery, electric motors, electronic devices, as well as textile and food industries. He noted that attracting more Belarusian investments would be both a qualitative and quantitative addition to the emirate’s economy.

For his part, Mohamed Juma Al Musharrakh noted that the visit embodies Invest in Sharjah’s FDI vision, which focuses on building strategic partnerships with the world’s leading investment and development agencies. Sharjah is bolstering its status as one of the most important incubators for investments that support building a modern economy.

Belarus’s key economic sectors have achieved noticeable growth. Hi-Tech Park witnessed remarkable success in 2020, with exports exceeding US$ 2.7 billion, accounting for over 20 percent of the country’s service sector exports.