Sharjah seeks to attract foreign investment

12/04/2011 - Northern Emirates Property & Investment News Posted by Bob Brunskell
Sharjah seeks to attract foreign investment

Sharjah is hoping to attract greater levels of foreign investment seen in other UAE regions like Dubai by setting up special zones.The emirate has appointed consultants to assess setting up primary and secondary sectors for investment and expand Sharjah's global reach. They will also seek to ease congestion in the city and reduce pollution, chief executive Marwan Jassim Al Sarkal told Emirates 24/7."This is very important as we are aiming to have long term investments and relationships that will create a win-win situation for both Sharjah and investors. Once these sectors are defined then we will be able to provide more accurate figures," he said.According to the news provider, Sharjah's gross domestic product has increased by 11 per cent a year over the past five years.The emirate will particularly concentrate on international trade and travel, developing eco-tourism destinations in Khorfakkan and Kalba.Mr Al Sarkal noted that these special zones would be well-connected to major transport networks, facilitating business with other emirates.