News » Crown Prince inaugurates the 2011 Fujairah International Business Forum

Crown Prince inaugurates the 2011 Fujairah International Business Forum

Monday 4th April 2011

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The inaugural Fujairah International Business Forum, held under the patronage of H.H. Sheikh Hamad Bin Mohammed Al Sharqi, was launched this morning in Al Bustan Centre in Fujairah by H.H. Sheikh Mohammed Bin Hamad Al Sharqi, Crown Prince of Fujairah.

 

Also in attendance were H.H. Sheikh Saleh Bin Mohammed Al Sharqi, Chairman of the Fujairah Department of Industry and Economy, H.H. Sheikh Saif Bin Hamad Bin Saif Al Sharqi, Chairman of the Fujairah Free Zone Authority, H.E. Mr. Juma Ali Al Kait, Undersecretary of the Ministry of Foreign Trade and a host of local officials and international participants.

 

The two-day event kicked-off with a number of presentations from international companies and groups as well as local officials who stressed the investment attractions and potential in the emirate of Fujairah.

 

An estimated 400 participants and local attendees attended the opening session of the event hosted by the Fujairah Free Zone Authority.

 

In a published statement, the Fujairah Crown Prince said: “We believe that prosperity and success should be witnessed by all aspects and all sectors of the economy in the emirate of Fujairah. Businesses and investments in the emirate are the indicator which proves our success in offering the best business, living and investment environment. The Fujairah International Business Forum 2011 is part of our ambitious plan to achieve more success and higher growth.”

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The first morning session of the forum was chaired by Dr. Mohammed Saeed Al kindi, former Minister of Environment & Water, and it focused on the role of Fujairah in the global economy. Speakers put forward their impressions of Fujairah and shared their business experience detailing their thoughts on how the emirate can best utilize its economic potential.

 

Four new investment agreements will be signed later on Monday on the sidelines of the forum, it was announced.

 

The first is between the Fujairah Free Zone Authority and the CEO Clubs, an American organization with branches in 12 countries around the globe, including the UAE. The agreement aims to attract investors from the countries where the branches of the club are based.

 

The second agreement is about the construction of an advanced medical centre to be built by Adam Holding UK according to the highest technology standard.

 

The third agreement relates to a project to establish a festival city with the collaboration of the Chinese company ‘Lantel’, with an investment of USD 20 million.

 

Last of the four agreements will be signed with China Finance & Investment Capital to develop oil activities and maritime transportation in the emirate of Fujairah.

 

Sessions in the second, and final, day of the forum will be held tomorrow.

 

Fuad Mohammed Ali

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