In a forum organized by Sharjah Chamber of Commerce and Industry, SCCI called on German businessmen and investors to explore investment opportunities with the emirate’s business community to benefit from new avenues of partnership and develop economic ties.
The forum was arranged in collaboration with the German-Arab Chamber of Industry and Commerce for a delegation of businessmen and investors in several vital sectors from Germany, and was attended by HE Abdullah Sultan Al Owais, Chairman, Dr. Peter Ramsauer, President of GACIC, along with representatives from the local private sector and the Sharjah International Airport Free Zone (SAIF Zone).
Speaking on the occasion, Abdullah Sultan Al Owais said, “The forum is a significant step towards enhancing economic cooperation and developing relations between the business communities at various levels,” considering the outstanding outcomes of cooperation since 2004. “Exceptional economic relations between the two nations resulted in over 8.8 billion euros of trade exchange in 2020,” Al Owais asserted, adding “There are more than 1000 German companies operating in the UAE across various sectors, with a total investment of about 6.7 billion euros.”
He further added that this has made GCC countries the seventh-largest export destination for German industries outside Europe.
Dr. Ramsauer, President of GACIC, also stressed the significance of Sharjah as an investment destination for German enterprises, citing the emirate's excellent business environment, and the Chamber’s efforts in organizing the forum. He invited Emirati investors to visit his country and learn about the most vital investment opportunities in various sectors.
Shabib Ibrahim Khatib, Sales Executive, SAIF Zone, gave a presentation on the advantages provided by the SAIF Zone to investors. This included 100 percent foreign ownership of businesses, 100 percent repatriation of capital and profits, 100 percent corporate or personal income tax exemptions and 100 percent import and export tax exemptions.
In addition to state-of-the-art warehouses and offices at competitive prices, SAIF Zone provides equipment, workers and shipping services 24/7, making it the perfect destination for investment in the Middle East.
Several German companies emphasized the benefits offered in a variety of business sectors, expressing their desire to expand their investments in Sharjah to take advantage of the supportive environment, sophisticated infrastructure, and strategic location that would help them penetrate Gulf markets.