Investment in Sharjah: Waste Recycling Among 7 High Potential Sectors

Investment in Sharjah: Waste Recycling Among 7 High Potential Sectors

Accounting for 19% of GCC’s solid waste generation, UAE holds a myriad of investment opportunities in clean energy sector

The Sharjah FDI Office (Invest in Sharjah)’s recently published FDI Future Trends & Sector Potential report has identified seven high-potential sectors that are powering qualitative and sustainable strategic investments into the emirate.

The report was developed in collaboration with numerous government departments and private sector entities in the emirate and in partnership with PwC Middle East.

The report highlights that the UAE is one of the world’s most open and investor-friendly economies which has attracted high volumes of foreign investments in the past few years, noting that Sharjah leverages UAE’s global reputation to build on its status as a go-to FDI destination.

Sector-wise performance and future outlook

Health & Wellbeing

The UAE’s per capita health expenditure in 2019 was recorded as $1,643, and the growth projection for the nation’s pharmaceutical sector is 7.3% annually to reach $4.7 billion by 2024. All this means that Sharjah’s potential to benefit from FDI in these sectors is massive.

GreenTech

The report has also revealed that Sharjah’s potential in Greentech investments is one of the highest in the region, with achievements like earning the title of the first ‘zero landfill city’ of the Middle East as well as a solar park and waste-to-energy plant by Bee’ah which powers nearly 67,000 households.

Sharjah Gets Middle East’s First Waste-to-Energy Plant

Accounting for 19% of the GCC’s solid waste generation, the UAE holds a myriad of investment opportunities in the clean energy sector. In addition, the growth forecast of the UAE’s Solar Energy Market between 2022 and 2025 is 15%.

According to the report, investment opportunities in the sector include Waste Recycling and Waste-to-Energy systems; Clean Energy Generation and Storage to leverage alternative energy renewable sources including solar, hydrogen fuel, biofuels; and Smart Buildings and Green Construction.

Agri-Food Technology

The IIS-PwC Middle East report noted that the UAE agricultural product market reached $626 million in 2019 with a 9.8% CAGR of revenue from agricultural products with Sharjah is expected to be a major contributor to the $1.1 billion UAE agricultural market projected for 2024.

The report indicated that the eastern coast of Sharjah has a wealth of investment opportunities to establish aquaculture and seaweed farming facilities, in addition to Aeroponics, Aquaponics, Hydroponics, vertical urban farming, and plant genomics.

Mobility & Logistics

Strategically located at the cusp of East and West, and with a coastline each on the Arabian Gulf and Gulf of Oman, Sharjah has been a preferred gateway into the region for those looking for shorter access routes from the Far East and South Asia, Australia. and Africa.

The recent report has highlighted Smart Mobility Solutions including Hyperloop technologies, electric mobility and charging infrastructure.

Culture & Tourism

The report forecasts investments in Sharjah’s culture, media and tourism sectors to reach $20.3 billion by 2027, with the emirate transforming itself as a destination of choice for global travellers with multi-billion dollar development projects as well as government support.

Human Capital and Innovation

With an annual investment of $1.5 billion in education and research, Sharjah boasts a talent-rich ecosystem of world-class universities and leading innovation centres.

The Invest in Sharjah FDI trend report also states that opportunities abound for specialised vocational academies and future upskilling and innovation labs that work towards finding cost-effective solutions to complex global challenges.

Advanced Manufacturing

In the field of advanced manufacturing, the report revealed that the UAE’s Additive Manufacturing sector is forecasted to reach $599 million by 2025.

Sharjah, which is home to more than 35% of the UAE’s manufacturing industries, also aims to maximise efficiency gains through manufacturing operations automation using advanced technologies such as IoT, Robotics, drones and others.

Supporting creative entrepreneurial projects

H.E. Ahmed Obaid Al Qaseer, Acting CEO of Sharjah Investment and Development Authority, said: “Today, Sharjah is home to many investment opportunities in various fields, especially in the new economy sectors, advanced industries, tourism, agriculture, innovation and others.

"With advanced infrastructure and agile legislation, the emirate has become a premier destination for businesses and a capital of industry in the region."

Mohamed Juma Al Musharrkh, CEO of Sharjah FDI Office, said: “In the post-COVID world, investments in technology are outpacing all other sectors. Sharjah’s unveiling of the first 3D printing house in the region signals its competitiveness in advanced manufacturing.”

“Our team provides investors with reliable market information and analytics, in addition to sharing valuable input on each case based on their extensive experience in the field, which helps investors make sound and confident decisions."

Read More: Know How Sharjah has Planned to Implement Plastic Ban from Jan 2024

Related Stories

No stories found.
Sustainability Middle East News
www.sustainabilitymenews.com