Business

EDB’s total financing across the UAE reached AED10.4 billion by Q1 2024. 64% of EDB’s total financing in Sharjah in the past three years - which amounted to AED837 million - supported the manufacturing sector and 16% supported renewables projects.

In a collaborative effort to bolster the economic landscape of Sharjah, Emirates Development Bank (EDB) partnered with the Ministry of Industry and Advanced Technology’s “Make it in the Emirates" initiative to host the Sharjah edition of EDB Connect. The event, held at the Sharjah Research, Technology, and Innovation Park, brought together industry leaders, government officials, and business innovators to explore avenues for sustainable growth through strategic partnerships.

EDB Connect, part of a series of forums organized by EDB and the Ministry, aims to foster collaboration between government entities and private sector companies to drive economic growth and diversification in the UAE.

Themed “Fostering Strategic Partnerships to Shape Sharjah’s Sustainable Economic Landscape,” the forum delved into discussions on federal and local efforts, along with public-private partnerships, to attract businesses and investments to Sharjah. Sessions focused on the role of strategic partnerships in driving economic growth, innovation, and supporting entrepreneurs.

In his welcome address, His Excellency Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, highlighted the importance of EDB Connect as a platform for forging partnerships that align with Sharjah's economic aspirations and the broader goals of the UAE. He emphasized EDB's commitment to catalyzing economic diversification, citing substantial financial engagements across all emirates.

H.E. Mohammed Juma Al Musharrakh, CEO of Sharjah FDI Office (Invest in Sharjah), underscored the significance of partnerships in shaping Sharjah’s economic trajectory. He highlighted Sharjah's commitment to creating an attractive environment for business success, as evidenced by its diverse free zones and public-private partnerships.

Panel discussions featured speakers from key local and federal entities, including the UAE Ministry of Industry and Advanced Technology, Ministry of Climate Change & Environment, and Sharjah Department of Economic Development. The sessions explored strategies for nurturing an attractive business environment, driving innovation, and empowering entrepreneurs.

The event concluded with a special award ceremony recognizing key stakeholders and strategic partners contributing to economic development in Sharjah.

Emirates Development Bank's role in enabling economic transformation in the UAE was central to the discussions. Through initiatives to provide competitive financing and support SMEs growth, EDB remains committed to shaping the new economic narrative of Sharjah and the UAE.

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