Mohamed Al Noman discusses tourism and business factors effecting Sharjah at the UAE Asian Investment Forum

These factors have positioned the emirate to take a distinctive place on the world tourism map in addition to creating a healthy investment environment in the region.

In his speech at the Asian Investment Forum, Al Noman said: "Sharjah is attracting a notable number of foreign investments in several key and active economic sectors. This proves Sharjah growing importance and position in the business world as an attractive environment for investment. We can see through the increasing response from various investors from across the region, that there is a growing confidence in the emirate and its infrastructure that has been developing and progressing significantly over the past several years.

He added: " Sharjah is know owning one of the largest spaces allotted for industry in the entire UAE to include 19 industrial areas that qualified this emirate to be the UAE's industry beating heart by dominating 35% of the industrial sector's revenues in the UAE."

After mentioning the various tourism factors that Sharjah has to offer, Mr. Al Noman spoke about this sector's role in supporting the GDP of the emirate and the UAE in general. He said: "Last year, Sharjah's tourism sector had been flourishing due to increasing profits coming from its hotels. There has been a 25% increase compared to 2004, where the occupancy rate met full capacity at several times during the year, raising the average occupancy rate to 85%. The increasing rate of occupancy reflects to the notable increase of tourist flow towards the UAE in general.

He went on to add: Sharjah has developed as a distinctive tourist destination known by different types of tourists who are increasing in their numbers, all of whom are attracted by the emirate's mixture of heritage and culture in addition to its Islamic architectural. Contributing to this are the 21 museums we have spread across the emirate, that are visited by tourists from all over the world. Certainly Qanat Al Qasba is considered one of the best tourists destinations in Sharjah."

SCTDA participation at the UAE Asian Investment Forum is considered a success, as Sharjah's pavilion garnered a very positive response from a number of business personalities, the Asian, Arabic and international Media, as well as the forum visitors and participants. H.E Mr. Mohammed Ali Al Noman met H.E Dr. Ali Bin Abdullah Al Kaabi, UAE Labor Minister and H.E. Lim Hang Kiang, Minister of Trade & Industry, Singapore, and a number of other official personalities, business men and representatives of Singaporean organizations and companies. At this meeting they discussed the shared business opportunities and factors that investment presents to Sharjah's industry.

Notably, the Sharjah Commerce and Tourism Development Authority participation at this year's important Economic Forum, which is aimed at enhancing and expanding economic relations between the UAE and Singapore, is occurring at a time when Sharjah's economy is rapidly growing. In 2005, the emirate witnessed a great growth due to the positive performance in all of its economic sectors, which in turn is contributed to the overall success of the UAE on a whole.

Sharjah's pavilion was the most eminent among the participants in the associated exhibition organized on the sideline of the forum. It demonstrates an astounding presence through attracting VIPs, economic activities and a large number of Asian, Arabian and international media, as well as an enormous number of visitors and participants.