Emirates Industrial Cities announces strategic partnership with Sharjah Economic Development Department

The sponsorship was announced during a press conference held at Sharjah Economic Regulation Authority headquarters, followed by the announcement of a strategic partnership between "Emirates Industrial Cities" (EIC), and the Sharjah Economic Development Department (SEDD).

Shiek Abdullah bin Fahid Al Shakrah, Al Hanoo Holding and EIC Chairman, said of the partnership

"The Government of Sharjah has always been known for its progressive vision and its support of the industrial sector, always seeking to raise growth and development levels, and looking to use the role of industrial cities to establish a healthy and strong economy".

"The partnership with the SEDD comes as a token of appreciation for the Department's experienced staff and for the continuous efforts made by the Department to increase growth rates in the emirate of Sharjah. We firmly believe the collaboration between the private and the government sector is needed to build a solid economy", added Al Shakrah.

The SEDD held a press conference at its headquarters to announce the launch of the Economic and Industrial Cities Forum on the 26th-27th April. The press conference was attended by numerous government officials, VIP's and industrial investment enthusiasts.

During the conference, Sheik Abdullah Al Shakrah, Chairman of Al Hanoo Holding and H.E Ali bin Salem Al Mahmoud, the Authority's General Manager of the SEDD, and Vice Director General of Al Iktissad Wal Aamal Group, highlighted several facts about the importance of holding this Forum at this particular time, given that 35 free zones are distributed among 13 Arab countries, in addition to the growing number of economic and industrial cities. Furthermore, steps have been taken in 2008 to form an Arab union for free zones that aims at the collaboration and coordination between these free zones. The Forum in Sharjah intends to increase the growth rate of industrial facilities to 80% by the end of 2008, compared to the same period in 2007, thus raising the number of industrial companies by 90, to reach a total of 1210 companies in the emirate of Sharjah. Industrial Investments in Sharjah have also increased by 6.2%, compared to past periods, to reach an amount of Dhs249m at the end of 2008.

Numerous officials, economic policy makers, experts, investors, bankers and businessmen from GCC countries and the rest of the Arab World are expected to participate in the Economic and Industrial Cities Forum, along with other Arab funding establishments and interested international authorities and institutions.