Umm Al Quwain Chamber .. A comprehensive investment strategy to achieve sustainable economic development
Umm Al Quwain on May 1/ WAM/ His Excellency Khalfan Ahmed Mesfer, President of Umm Al Quwain Chamber, stressed that the Chamber implement an ambitious strategic vision aimed at strengthening a diverse and sustainable investment environment in the emirate, in the context of supporting the directions of the Umm Al Quwain government towards achieving integrated and comprehensive economic development.
His Excellency said in a statement to the Emirates News Agency “WAM”, that the Chamber is based in its vision on several main axes, the most prominent of which is the support of the business environment and the motivation of investments, and the organization of businessmen through effective partnerships, in addition to providing innovative digital services, developing human resources, in addition to promoting the emirate as a regional investment center by participating in international events, which contributes to building a balanced economy that achieves prosperity Long -term.
In the context of the Chamber’s role in achieving the government’s vision, Mesfer stressed that the Chamber is working to fit its plans with the government’s vision by enhancing investment, supporting small and medium enterprises, facilitating procedures, and advancing the digital transformation, and signing strategic partnerships with the public and private sectors to develop an attractive and sustainable investment environment.
He pointed out that the Chamber seeks to diversify the economic base and reduce dependence on traditional sectors by focusing on the development of non -oil sectors, encouraging innovation and technology, supporting entrepreneurship, in addition to attracting investments in vital areas such as renewable energy and tourism.
His Excellency stated that the promising sectors on which the emirate focuses include the real estate and industrial sector, as well as environmental tourism, clean energy, logistical services, modern agriculture, health and education, where incentives and facilities were provided to attract specific investments in these sectors.
On stimulating investment in future sectors, Mesfer stressed that the emirate of Umm Al Quwain provides multiple incentives to encourage investors to enter the sectors of technology, sustainable tourism and renewable energy, through administrative exemptions, allocating areas prepared for these activities, in addition to providing training and technical support and signing partnerships in the fields of research and development.
The President of the Chamber, Umm Al Quwain, stressed the importance of integrating the concepts of sustainability into investment projects, through sustainable planning, using resources efficiently, and adopting the green financing approach, explaining the room’s work to support environmental projects within the Saud bin Rashid Al Mualla program, which gives it additional encouragement features.
Mesfer pointed out that the Chamber is closely cooperating with the private sector to ensure the sustainability of projects through awareness, technical support, and the provision of legislative solutions, pointing out that the Chamber held strategic partnerships with local and international institutions, including national banks and legal and technical companies, to support the business system and promote innovation.
Regarding the challenges, His Excellency explained that the Chamber is working to overcome it by developing industrial infrastructure, promoting the blue economy, and promoting the emirate as a promising investment center, and said that the issuance of the Law of the Umm Al Quwain Chamber for the year 2024 contributed to strengthening the powers of the room and expanding its scope of work in supporting economic diversity.
His Excellency Khalfan Ahmed Mesfer emphasized that the Chamber pays great attention to technology and digital transformation, through workshops, technical support, and technical partnerships such as cooperation with Zoho to provide advanced digital solutions to entrepreneurs, and these efforts also contribute to raising the efficiency of companies and enhancing their competitiveness.
With regard to entrepreneurship, his happiness drew an integrated plan to support startups that include financing, training, intellectual property protection, and promoting the legal environment, which contributes to stimulating innovation and attracting technical projects, stressing that the Chamber is cooperating with local and federal authorities to measure the economic and social impact of investments, by tracking economic data.
His Excellency stressed that the future of investment in Umm Al Quwain is promising in light of the global trends towards the green economy, noting that the emirate has the ingredients that qualify it to be a center for creativity and sustainable investment, thanks to its flexible strategies, attractive incentives, and international partnerships.
He called on local and international investors to take advantage of the promising opportunities provided by the emirate, stressing that Umm Al Quwain is moving at a confident pace towards achieving a varied, sustainable, and attractive economy.
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