Sharjah Chamber of Commerce & Industry (SCCI) reviewed investment opportunities in the Emirate with a high-profile economic delegation from China’s Shaanxi Province today. The delegation consisted of 18 businessmen headed by Li Xiaodong, Vice Chairman of Shaanxi Provincial Committee at the Chinese People's Political Consultative Conference.
The Chinese delegation included first-time-in-Sharjah businessmen. The members of the visiting delegation showed a great interest in investing in Sharjah, utilizing it as a gateway for their business and expansion plans. These plans are driven by the prestigious position of Sharjah and the merits offered for foreign investors, and the lucrative opportunities available in various economic sectors.
In his comment on the visit, H.E. Abdallah Sultan Al Owais, Chairman of SCCI praised the bilateral economic relations between the business communities of the UAE and China. With more than 4,200 Chinese companies operating in the country, China is the top trade partner of the UAE. He stressed that the economic ties are based on solid foundations supported by strong pillars of political and economic relations between the two countries, which culminated in the successful visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to China recently.
Al Owais added that Sharjah is looking forward to attract more Chinese companies operating in various sectors. He also pointed out that Sharjah enjoys viable features that allow it to attract Chinese investment, and secure an ideal environment for their growth and development.
During his meeting with the visiting delegation, Mohammed Ahmad Amin, Assistant Director General for Communication and Business, highlighted the unique position of Sharjah as an ideal destination for attracting Chinese investment, and a key destination for all international investors willing to expand in the GCC markets in particular, and the Middle East in general.
During his opening speech, Amin reviewed a number of services and initiatives offered by the Chamber to the private sector. These services include facilitating business establishment, organization of specialized business meetings, provision of training and development, extending support for SMEs, and the issuance of certificates of origin. He emphasized, in this regard, the commitment of the Sharjah Chamber to supporting the Chinese delegation, and providing all their requirements needed to get to know the business environment in Sharjah, and to find the opportunities appropriate to their needs and requirements.
For his part, Li XiaoDong praised the benefits offered by Sharjah to the Chinese investors from Shaanxi province. He also asserted that Sharjah is a major business hub, as it possess competitive investment environment. He also explained that Sharjah is an ideal choice for the Chinese investors from Shaanxi Province, especially since many of the delegation members are visiting Sharjah for the first time.
XiaoDong commended the efforts and support Sharjah Chamber extended to the visiting delegation, and its keenness to provide all the required information and explanations, saying that the adequate offer of investment opportunities allowed members of the delegation to have a clear picture of the investment and its prerequisites. He expressed his desire to build on this visit to foster cooperation and coordination ties between the business communities in the Shaanxi Province and the Emirate of Sharjah.
Following the meeting, several bilateral meetings were held to discuss cooperation in a number of economic sectors and areas.
The number of Chinese companies, registered in SCCI, and operating in the emirate reached 433 companies, covering vital sectors, such contracting, retail, construction, electronics and other sectors. Currently, the value of Sharjah exports to China exceeded AED 44 million, while Sharjah re-exports to China reached AED 261 million throughout 2016.