Latest news with #SEDC
Zawya
08-07-2025
- Business
- Zawya
Sharjah highlights 30% growth in Indian investments
MUMBAI: Abdallah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), affirmed that Sharjah holds a strategic position for Indian companies as a preferred investment destination, thanks to its fully integrated competitive advantages. He noted that Indian investors form a key component of Sharjah's business landscape, with nearly 2,000 new Indian companies joining the Chamber in 2024. This growth brought the total number of Indian businesses operating in the emirate to around 20,000, reflecting a 30 percent increase compared to 2023. Furthermore, Sharjah's export and re-export volume to India totaled approximately AED576 million, as documented through certificates of origin issued by the Chamber. These remarks were made during the Sharjah–India Business Forum, which was organised by the Sharjah Chamber in Mumbai, the first stop of its trade mission to the Republic of India, led by the Sharjah Exports Development Centre (SEDC). The delegation comprises 15 companies from Sharjah, representing a range of economic sectors. This mission reflects SCCI's commitment to supporting the expansion of the UAE companies and the private sector representatives into the Indian market, while also showcasing Sharjah's diverse and high-potential investment opportunities to Indian counterparts. The forum was attended by Abdallah Sultan Al Owais, Chairman of SCCI; Waleed AbdelRahman BuKhatir, Second Vice Chairman of SCCI; and Jamal Mohamed Sultan Binhuwaidin, SCCI Board Member. Also present were Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI; Ali Abdullah Al Jari, Director of the Sharjah Export Development Centre; Jamal Saeed Bouzanjal, Director of Corporate Communication at SCCI; and Abdulrahman Saeed Al Suwaidi, Director of Supply Chain and Government Affairs at Bee'ah Group, along with SCCI staff, business leaders, CEOs, and executives from industrial, manufacturing, and export companies operating in Sharjah. During the forum, the Sharjah Chamber's delegation explored ways to strengthen economic and trade cooperation between Sharjah and India, with a focus on partnership prospects in priority sectors. The program featured a range of business meetings and B2B engagements between companies from both sides, aimed at exploring cooperation opportunities, forging agreements, and forming strategic investment partnerships to drive bilateral trade growth. In his keynote speech, Abdallah Sultan Al Owais expressed his gratitude to the Indian side for their warm welcome and generous hospitality. He emphasised the deep-rooted relations between the UAE and India, noting that that both economies are among the fastest growing in the world, which signals strong prospects for expanding economic opportunities in the coming period. He highlighted the remarkable growth in the two countries' economic partnership, with the UAE ranking as India's third-largest global trading partner in 2024. The volume of non-oil trade between the UAE and India exceeded AED240 billion in 2024, marking a 20.5% increase from AED199.3 billion in 2023. This sustained growth reflects the robust momentum and strategic depth of the bilateral trade ties between the two nations. 'Mumbai boasts a strong economic foundation rooted in financial services, information technology, trade, and maritime shipping. It stands out as a strategic gateway for UAE businesses to explore and capitalise on high-potential investment opportunities across these vital sectors. This forum represents a key milestone in advancing bilateral business collaboration and enhancing joint efforts to grow trade and investment volumes,' Al Owais added. He noted that this collaboration will further strengthen the economic ties between the UAE and India, marking a significant stride toward fulfilling the objectives of the Comprehensive Economic Partnership Agreement (CEPA), which aims to increase mutual investment and trade flows and raise non-oil bilateral trade to $100 billion by 2030. Ali Abdullah Al Jari delivered a comprehensive presentation highlighting the key investment advantages offered by Sharjah. He outlined the emirate's diverse economic landscape, its advanced infrastructure, vital industrial and commercial zones, and world-class logistical facilities. He also underscored the Emirate's investor-friendly legal framework, which facilitates business growth and encourages foreign direct investment. The presentation highlighted the Sharjah Chamber's initiatives to support investor engagement through its structured network of business councils. As part of its ongoing visit to India, which will continue until July 11, the delegation will head to Ahmedabad for the second leg of its tour. The agenda includes a dedicated business forum involving meetings with key representatives from Indian chambers of commerce and industry.
Khaleej Times
07-07-2025
- Business
- Khaleej Times
UAE: Sharjah taps Indian market growth with 2,000 new company registrations in 2024
Sharjah cemented its position as a top investment hub for Indian businesses, with nearly 2,000 new Indian companies joining the Sharjah Chamber of Commerce and Industry (SCCI) in 2024 alone. This brings the total number of Indian firms registered with the Chamber to around 20,000 — a significant 30 per cent increase compared to 2023. Abdallah Sultan Al Owais, Chairman of the SCCI, made the announcement at the Sharjah–India Business Forum in Mumbai, marking the first leg of the Chamber's trade mission to India. Organised by the SCCI and led by the Sharjah Exports Development Centre (SEDC), the forum brought together 15 Sharjah-based companies representing various economic sectors. The aim was to boost cross-border collaboration and highlight the emirate's economic potential to Indian investors. In his remarks, Al Owais described Sharjah as a strategic investment destination offering 'fully integrated competitive advantages". He emphasised that Indian companies play a vital role in the emirate's economic ecosystem. Sharjah's export and re-export volume to India totalled approximately Dh576 million, as documented through certificates of origin issued by the Chamber. Investor-friendly legal framework The event highlighted Sharjah's push to attract more Indian investors by showcasing the emirate's investor-friendly legal framework, developed infrastructure, diverse industrial zones, and high-potential sectors. During his keynote address, Al Owais expressed gratitude to the Indian business community, highlighting the strong and longstanding economic ties between the UAE and India. In 2024, the UAE ranked as India's third-largest trading partner, with non-oil trade between the two nations exceeding Dh240 billion — a 20.5 per cent increase from Dh199.3 billion in 2023. 'Mumbai boasts a strong economic foundation rooted in financial services, information technology, trade, and maritime shipping. It stands out as a strategic gateway for UAE businesses to explore and capitalise on high-potential investment opportunities across these vital sectors," said Al Owais. "This forum represents a key milestone in advancing bilateral business collaboration and enhancing joint efforts to grow trade and investment volumes,' he added. Fostering partnerships The forum featured a series of business-to-business (B2B) meetings and networking opportunities aimed at fostering partnerships across key sectors. The delegation also presented Sharjah's economic offerings, with Ali Abdullah Al Jari, Director of the SEDC, giving an overview of the emirate's advanced infrastructure and investor incentives. The trade mission will continue in Ahmedabad, Gujarat, until July 11. There, the delegation will host another business forum and hold meetings with Indian chambers of commerce to build on the momentum established in Mumbai. The mission supports the broader goals of the UAE–India Comprehensive Economic Partnership Agreement (Cepa), which aims to raise non-oil bilateral trade to $100 billion by 2030.
Zawya
07-07-2025
- Business
- Zawya
Sharjah Chamber's trade mission to India highlights 30% growth in Indian investments,
Mumbai: H.E. Abdallah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), affirmed that Sharjah holds a strategic position for Indian companies as a preferred investment destination, thanks to its fully integrated competitive advantages. He noted that Indian investors form a key component of Sharjah's business landscape, with nearly 2,000 new Indian companies joining the Chamber in 2024. This growth brought the total number of Indian businesses operating in the emirate to around 20,000, reflecting a 30 percent increase compared to 2023. Furthermore, Sharjah's export and re-export volume to India totaled approximately AED 576 million, as documented through certificates of origin issued by the Chamber. These remarks were made during the Sharjah–India Business Forum, which was organized by the Sharjah Chamber in Mumbai, the first stop of its trade mission to the Republic of India, led by the Sharjah Exports Development Centre (SEDC). The delegation comprises 15 companies from Sharjah, representing a range of economic sectors. This mission reflects SCCI's commitment to supporting the expansion of the UAE companies and the private sector representatives into the Indian market, while also showcasing Sharjah's diverse and high-potential investment opportunities to Indian counterparts. The forum was attended by H.E. Abdallah Sultan Al Owais, Chairman of SCCI; H.E. Waleed AbdelRahman BuKhatir, Second Vice Chairman of SCCI; and H.E. Jamal Mohamed Sultan Binhuwaidin, SCCI Board Member. Also present were Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI; Ali Abdullah Al Jari, Director of the Sharjah Export Development Centre; Jamal Saeed Bouzanjal, Director of Corporate Communication at SCCI; and Abdulrahman Saeed Al Suwaidi, Director of Supply Chain and Government Affairs at Bee'ah Group, along with SCCI staff, business leaders, CEOs, and executives from industrial, manufacturing, and export companies operating in Sharjah. During the forum, the Sharjah Chamber's delegation explored ways to strengthen economic and trade cooperation between Sharjah and India, with a focus on partnership prospects in priority sectors. The program featured a range of business meetings and B2B engagements between companies from both sides, aimed at exploring cooperation opportunities, forging agreements, and forming strategic investment partnerships to drive bilateral trade growth. In his keynote speech, H.E. Abdallah Sultan Al Owais expressed his gratitude to the Indian side for their warm welcome and generous hospitality. He emphasized the deep-rooted relations between the UAE and India, noting that that both economies are among the fastest growing in the world, which signals strong prospects for expanding economic opportunities in the coming period. He highlighted the remarkable growth in the two countries' economic partnership, with the UAE ranking as India's third-largest global trading partner in 2024. The volume of non-oil trade between the UAE and India exceeded AED 240 billion in 2024, marking a 20.5% increase from AED 199.3 billion in 2023. This sustained growth reflects the robust momentum and strategic depth of the bilateral trade ties between the two nations. 'Mumbai boasts a strong economic foundation rooted in financial services, information technology, trade, and maritime shipping. It stands out as a strategic gateway for UAE businesses to explore and capitalize on high-potential investment opportunities across these vital sectors. This forum represents a key milestone in advancing bilateral business collaboration and enhancing joint efforts to grow trade and investment volumes,' Al Owais added. He noted that this collaboration will further strengthen the economic ties between the UAE and India, marking a significant stride toward fulfilling the objectives of the Comprehensive Economic Partnership Agreement (CEPA), which aims to increase mutual investment and trade flows and raise non-oil bilateral trade to $100 billion by 2030. Ali Abdullah Al Jari delivered a comprehensive presentation highlighting the key investment advantages offered by Sharjah. He outlined the emirate's diverse economic landscape, its advanced infrastructure, vital industrial and commercial zones, and world-class logistical facilities. He also underscored the Emirate's investor-friendly legal framework, which facilitates business growth and encourages foreign direct investment. The presentation highlighted the Sharjah Chamber's initiatives to support investor engagement through its structured network of business councils. As part of its ongoing visit to India, which will continue until July 11, the delegation will head to Ahmedabad for the second leg of its tour. The agenda includes a dedicated business forum involving meetings with key representatives from Indian chambers of commerce and industry. The program will also feature various business forums and meetings between Emirati and Indian business communities, aimed at exploring investment prospects and establishing joint economic partnerships. For further information, please contact: Ali Elgendy Misbar Communications ali@ Ahmad Aldwairi Misbar Communications
Business Times
03-07-2025
- Business
- Business Times
Stocks to watch: Ban Leong, Oiltek, Addvalue
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jul 3): Ban Leong Technologies : Video game distributor Epicsoft Asia's voluntary unconditional cash offer to take the group private closed at 5.30 pm on Wednesday, the technology products distributor said. As the offeror, a subsidiary of Nasdaq-listed GCL Global, now owns, controls or has agreed to acquire 104.1 million or 96.6 per cent of the group's total issued shares, it plans to compulsorily acquire all remaining unacquired shares and delist Ban Leong. With its percentage of publicly held shares now below the Singapore Exchange's 10 per cent free float requirement, shares of Ban Leong will be suspended from 9 am on Thursday. The counter closed flat on Wednesday at S$0.595, before the announcement. Oiltek : The vegetable and edible oil processing company is supporting a sustainable aviation fuel pilot plant programme by global technology provider Sulzer, who will be in collaboration with the Sarawak Economic Development Corporation (SEDC). This programme will be executed through SEDC's new energy arm, SEDC Energy (SEDCE). The group said in a statement on Thursday it is in talks with SEDCE to explore the possibilities of involvement in the initiative, but that as at Thursday no definitive agreements have been entered into, and no formal plans have been finalised or approved by its board. Its shares closed flat at S$0.56 on Wednesday. Addvalue Technologies : The group announced on Thursday that it has secured several new orders totalling around US$1.5 million for its advanced digital radio-related business. These orders are for the supply of the company's proprietary highly compact software defined radio modules to customers in the defence technology industry. They will also increase Addvalue's order book from US$14.3 million as announced on Jun 26, to US$15.8 million. The counter closed flat at S$0.015 on Wednesday.
Business Times
03-07-2025
- Business
- Business Times
Stocks to watch: Ban Leong Technologies, Oiltek
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jul 3): Ban Leong Technologies : Video game distributor Epicsoft Asia's voluntary unconditional cash offer to take the group private has closed, the technology products distributor said on Wednesday. The offeror, a subsidiary of Nasdaq-listed GCL Global, now owns, controls or has agreed to acquire 104.1 million or 96.6 per cent of Ban Leong's total issued shares. With the total number of publicly held issued shares now below the Singapore Exchange's 10 per cent free float requirement, the offeror plans to compulsorily acquire all shares it has not acquired and delist the group. The counter closed flat on Wednesday at S$0.595, before the announcement. Oiltek : The vegetable and edible oil processing company is supporting a sustainable aviation fuel pilot plant programme by global technology provider Sulzer, who will be in collaboration with the Sarawak Economic Development Corporation (SEDC). This programme will be executed through SEDC's new energy arm, SEDC Energy (SEDCE). The group noted in a statement on Thursday it is in talks with SEDCE to explore the possibilities of involvement in the initiative, but that as at Thursday no definitive agreements have been entered into, and no formal plans have been finalised or approved by its board. Its shares closed flat at S$0.56 on Wednesday.
