The Sharjah Investment and Development Authority (Shurooq) has signed a Memorandum of Understanding (MoU) with the Sharjah Electricity and Water Authority (SEWA) to boost cooperation between the two authorities in the fields of energy and environment efficiency, energy conservation, and attracting investors in the fields of renewable and alternative energies.
The signing ceremony took place at the Sharjah Chamber of Commerce and Industry’s headquarters, yesterday, and was attended by Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Investment and Development Authority (Shurooq), and HE Dr Eng. Rashid Al Leem, Chairman of the Sharjah Electricity and Water Authority (SEWA), in the presence of HE Marwan bin Jassim Al Sarkal, CEO of Sharjah Investment and Development Authority (Shurooq), Hussain Mohammed Al Mahmoudi, Director General of the Sharjah Chamber of Commerce and Industry and a number of senior officials from both Shurooq and SEWA.
Speaking on the occasion, Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Shurooq, said: “The MoU signed today with SEWA comes within the framework of Shurooq’s eagerness to cooperate with all government and private entities involved in achieving sustainable development. We aim to achieve three main goals through this agreement: finding solutions for renewable and alternative energy, co-organising events that aim to attract renewable energy investors and experts, and creating an ideal environment that encourage investment in Sharjah”.
Sheikha Bodour added that Shurooq is committed to providing the necessary facilities and incentives and overcome obstacles facing investment activities in the emirate, to help achieve the authority’s vision and strategic objectives that aim to boost the investment climate and increase competitiveness in Sharjah.
Dr Eng. Rashid Al Leem stressed the importance of cooperation between government authorities in the emirate of Sharjah to attract more investors and provide the necessary requirements in the areas of energy and others, to maintain the excellence of the emirate’s economy, which isthe most diverse economy in the region. He added: “We believe in the importance of providing sustainable and cost effective power for various business sectors, in addition to encouraging the companies willing to take advantage of the UAE’s climate in generating renewable energy.”
Al Leem added that signing the MoU between SEWA and Shurooq would contribute to increasing communication between investors and the concerned parties in renewable energies to explore ways of cooperation in energy reservation and the provision of clean energy, which will support the UAE’s Green Development Strategy themed “Green Economy for Sustainable Development”.
Under the MoU, Shurooq and SEWA will coordinate in the promotion of integration and interdependence in energy efficiency, environmental protection, energy consumption conservation and renewable and alternative energy. Shurooq will cooperate with SEWA in holding conferences that aim to attract renewable energy investors and professionals and in organising workshops on various fields that help secure clean energy. Both parties will cooperate in organising conferences and forums on promoting rational consumption, energy conservation, and best practices in energy, water, and environment.
Shurooq was established in 2009 with the aim of achieving social, cultural, environmental and economic development on the basis of Sharjah’s distinct Arab and Islamic identity, and to encourage investment by adopting the best international standards in providing quality services that help attract investors from the region and the world.
Shurooq’s key mission is to provide facilities and incentives to help overcome obstacles facing investment activities in the emirate, evaluate investment-related infrastructure projects, and lay down the necessary plans to complete such projects.
In recognition of its overall accomplishments, Shurooq was named The Banking Awards 2013 – and 2014 FDI Agency of the Year in the MENA region, in the European’s Global Banking and Finance Awards.
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