Al Hanoo Holding receives Investment Leadership Award

Sheik Abdullah bin Fahid Al Shakrah, Al Hanoo Chairman, received the award from H.E. Sheik Saud bin Khalid Al Qassimi, consultant of the Ruler of Sharjah during a ceremony attended by numerous local, regional and international officials and experts.

The award was presented during the Sharjah Economic Districts Forum 2009 which was organized by the Sharjah Economic Development Department and the Al Iktissad wa Al Aamal Group.

The forum was attended by more than 350 industrial experts, investors, government officials, company representatives and industrial district managers from over 15 countries around the globe. Success and the development of special industrial districts were discussed during the event.

Said Sheik Abdullah bin Fahid Al Shakrah, Al Hanoo Holding Chairman:

"The leadership award given to our company, which is proud to be regarded as a cornerstone in the Sharjah economy, reflects not only the strength of our company, but also Sharjah's ability to develop major projects, as well as its reputation as a big investment destination. The award also shows H.H. Sheik Dr. Sultan bin Mohammed Al Qassimi, Ruler of Sharjah and Member of the Supreme Council's wisdom and insight, which has provided real estate developers and investors with numerous investment opportunities and facilities."

"The emirate of Sharjah has proven that its economic interests are as important as its cultural, religious and social ones, as special economic districts have a direct influence on the local economy. The wise leadership of Sharjah is fully aware that the increase in the number of major projects, such as Al Nujoom Islands and Emirate Industrial City, requires a solid regulatory system, and the emirate is doing the best it can to overcome all challenges," added Al Shakrah.

Investments in the emirate of Sharjah was a hot topic at the forum, and participants discussed the development of the investment environment in Sharjah, the global financial crises' influence on the future of economic districts and on foreign investment and funding, the movement of international trade, and the risks of protecting and restricting the exports of growing countries.

Participants stressed the importance of selecting the right pattern to cater to the needs of the economy, the geographic site and competition factors, as well as the importance of infrastructure, including transport and communication systems.

Furthermore, the importance of providing the right environment for investments, in addition to providing sound legislations, tax systems, easy paperwork, qualified human resources and the right funding - which is an important resource for the UAE economy as it constitutes 48% of total funds of the industrial sector - was also discussed.