The Business Year

Mohammed Juma’a Al Musharrakh CEO, Invest in Sharjah

UAE - Economy

Mohammed Juma’a Al Musharrakh

CEO, Invest in Sharjah

Bio

Mohammed Juma’a Al Musharrakh was appointed CEO of Invest in Sharjah in 2018. He worked for the Sharjah Chamber of Commerce and Industry (SCCI) for seven years in various positions in the international affairs department at SCCI. He joined Shurooq in 2012 as the head of investment promotion and was promoted to director of the Sharjah FDI office (Invest in Sharjah) in 2016. Al Musharrakh is also the Regional Director of WAIPA Steering Committee for the MENA region and a member of the Steering Committee since 2019. He is also a board member of the Sharjah Investors Services Center and a member of the Board of Trustees at Pantheon-Assas University Paris II.

Invest in Sharjah is focused on seven key sectors that the Emirate believes will drive future growth and be the industries of the future.

How can Sharjah facilitate greater investment opportunities and what is your organization doing to boost interest?

Before the recovery started, we did our homework. We revised our strategy for the sectors that Sharjah was set to focus on post-COVID-19. We have updated the strategy and we worked with PwC to restructure our whole approach in terms of FDI attraction. Currently, we are focused on seven sectors: health and wellbeing, mobility and logistics, culture and tourism, agrifood technology, green technology, human capital and innovation, and advanced manufacturing. These are in alignment with the UAE’s overall strategy and the sectors that the UAE is focusing on. In terms of advanced manufacturing, the Ministry for Advanced Science in the UAE has recently announced a new industrial strategy called “Operation 300 Billion.” This is a 10-year, comprehensive strategy that aims to empower and expand the industrial sector in the UAE. The “300 billion” is in reference to the many manufacturers around the world that are invited to invest in advanced manufacturing in the UAE. Then, there’s the “Made in the UAE” program, whereby companies are encouraged to come to the UAE to manufacture and export to the whole world from the UAE. Accordingly, we launched the new Sharjah Research and Technology Park in late 2020 to attract different companies and technology in manufacturing, 3D printing, blockchain, and so on. Today, Bee’ah, one of the leading environmental companies with great ambitions in hydrogen energy and renewable energy. There are two programs they are working on: one with Masdar, which will produce energy from waste; and one with Chinook to produce hydrogen power, also from waste. Sharjah is eager to develop green energy and green technology. When it comes to health and wellbeing, we have launched Healthcare City, which we expect to attract many healthcare providers from around the world. Recently it announced the Emirate’s first oncology center. When it comes to mobility and logistics, we want to take advantage of the infrastructure we have, especially our three ports, Sharjah International Airport, and the various free zones we have attached to our ports and airports. In terms of culture and tourism, Sharjah is known as the cultural capital of the UAE. We have many new tourist attractions, especially in ecotourism and archaeological tourism in Kalba, Khor Fakkan, and Dibba.

Within the seven focus sectors, what strategies are in place to enhance private-sector activity?

This goes through the services we provide at the Sharjah FDI office. We have a support unit that supports all investors interested in Sharjah, whether by guiding them through the process of investment and doing business, or simply by giving them the right advice on where to locate, whether on the mainland, or in one of our free zones. We also support them by helping them get located in the right area, whether it is an office, a warehouse, a factory, or any other type of operation. We provide the right information on new rules and regulations and what’s happening in the country and at the Emirate level, which helps them access the stimulus packages that the government has released. This is our role when it comes to helping the private sector. The Sharjah FDI office (Invest in Sharjah) falls under the Sharjah Investment and Development Authority (Shurooq). Through Shurooq, we aim to create partnerships with the private sector.

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