EDB Connect Forum Highlights Strategic Partnerships As Key To Sharjah’s Economic Growth
The Emirates Development Bank (EDB) recently hosted the Sharjah edition of EDB Connect, a pivotal forum designed to foster the future economic landscape of Sharjah through strategic partnerships. This event, in collaboration with the Ministry of Industry and Advanced Technology's "Make it in the Emirates" initiative, convened industry leaders, government representatives, and business innovators to deliberate on sustainable growth. The discussions underscored the importance of synergies between government bodies and the private sector in drawing investments and businesses to the region.
At the heart of the forum was the exploration of how strategic partnerships can drive economic growth and innovation while providing robust support mechanisms for entrepreneurs and startups in Sharjah. Ahmed Mohamed Al Naqbi, CEO of EDB, underscored the bank's dedication to fueling the UAE's economic diversification efforts. Notably, EDB has extended substantial financing across the UAE, with a notable AED 837 million directed towards Sharjah's development.
Mohammed Juma Al Musharrakh, CEO of Sharjah FDI Office (Invest in Sharjah), highlighted the critical role of partnerships in steering Sharjah towards a sustainable economic path. He pointed out that Sharjah attracted AED 1.8 billion in foreign direct investment (FDI) in 2023 alone, marking it as one of the fastest-growing cities globally in FDI terms. This achievement is partly due to the collaborative efforts between EDB and Invest in Sharjah, supporting vital sectors like manufacturing, healthcare, tourism, and green technology.
The EDB Connect - Sharjah Edition featured three focused sessions with contributions from various government entities and organizations. These included the UAE Ministry of Industry and Advanced Technology, Ministry of Climate Change & Environment, and the Sharjah Department of Economic Development. The sessions delved into strategies for creating an attractive business environment, the role of partnerships in fostering innovation, and empowering entrepreneurs through comprehensive business incubators.
The forum showcased EDB's significant role in providing financing for industrial advancement and sustainable economic growth in Sharjah. The bank's efforts align with the national agenda for sustainable development and economic diversification, with a significant emphasis on manufacturing and renewable projects.
The event wrapped up with an award ceremony that acknowledged key stakeholders and strategic partners in Sharjah's economic development. Throughout the discussions, EDB's crucial role in shaping both Sharjah's and the UAE's economic narratives was evident.
EDB continues to commit to offering competitive and inclusive financing solutions that support large companies, enable SME growth, and prioritize sectors crucial for economic diversification. The bank's initiatives are geared towards enabling innovative projects and sustainable growth strategies, marking a significant step forward in achieving economic resilience and diversification.
With inputs from WAM
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