Sharjah increases GDP despite difficult global conditions

While congratulating the staff of the Economic Department of Sharjah, Sheikh Tariq Bin Faisal El-Qasimi, Head of the Department of Economic Development and Chairman of the Free Zone Area Council, stated that: "within only four years we have been able to increase the GDP from Dhs 17.8 billion to Dhs 22.2 billion.

"This increase was achieved in very difficult years, coinciding with a global economic slowdown as well as the consequences of the 11th September incidents, the war in Afghanistan and the current regional tensions over the Iraqi American confrontation."

Sheikh Al-Qasimi added that Sharjah relied on alternative methods complying with the prevailing circumstances, to enable the Emirate to proceed with projects and declared plans.

"As well as this, our adoption of strict corporate and institutional standards - similar to those used in more developed countries - have given foreign investors the necessary confidence to conduct their business easily and smoothly in a safe environment," he said.

Sheikh Tariq Al-Qasimi emphasised the importance of applying defensive investment strategies in such circumstances. "These strategies enabled the Emirate of Sharjah to help investors to continue to execute their projects on the first stage in order to expand in certain sectors in the second stage."

Sheikh Al-Qasimi honoured the staff of the different departments and divisions and called upon them to continue their excellent performance. He highlighted the prominent role played by personnel in achieving increased rates of development through their care to execute the department plans, programmes, objectives and powers included in the special codes of the Department of Economic Development.

These codes give the Department wide ranging powers, and also the ideal atmosphere to support and increase the developing economy. Through transparency in transactions, and focus on human resources, the Emirate of Sharjah aims to establish the pillars of constitutional culture necessary to achieve the highest standards in the supply of works and services. This will pave the way for future achievements, and meet the needs of the private sector to further boost the economy of Sharjah in particular, and the UAE as a whole.