Shurooq’s Efforts to Develop Institutional and Corporate Frameworks for the Youth highlighted at Sharjah FDI Forum 2018

The fourth global forum on Foreign Direct Investment (FDI) is underway in Sharjah. Organised by the Sharjah FDI Office (Invest in Sharjah), in strategic partnership with CNBC Arabia, the two-day event is hearing from 40 leading business experts and economists on the future of FDI trends and emerging sectors.

On the sidelines of the main programme, the day saw a parallel session titled ‘Youth Circles: The role of youth in shaping the future of economies, how the youth drive digital advancement and economic development.’ Shurooq Youth Council representatives expressed their pleasure to collaborate with the ‘Youth Council for the Future’s Economy’, an initiative by the UAE Ministry of Economy (MoE), to launch the first initiative as a corporate council of Sharjah Investment and Development Authority (Shurooq). They noted the immense support they have received from HE Marwan bin Jassim Al Sarkal, Executive Chairman of Shurooq to launch the council in the Year of Zayed, under the theme ‘Harnessing Innovative Initiatives in Driving the Development and Growth Process’.

 As a corporate council, Shurooq Youth Council seeks to support and empower Shurooq’s talented young personnel, through different initiatives that align with the objectives of the UAE Ministry of State for Youth Affairs such as this Youth Circle, which is aimed at strengthening communication with State entities and providing the youth with the opportunity to take part at the decision-making process.

Al Sarkal participated in the Youth Circle, highlighting their role in driving advancement and development. He said that the true sustainable investment is in harnessing their talents and capabilities, noting that economic prosperity and sustainability of any country is subject to young generations playing an active role in planning, managing and enhancing productivity.

 Al Sarkal stressed that harnessing the academic capabilities of young graduates in the labour market is essential to enhance and elevate the business sector. To implement this strategy, there is a need to develop a fully integrated development system that builds their capabilities and stimulates them to become agents of positive change and to participate in the process of decision-making.

He pointed out that one of the practical procedures to implement this strategy is investing in SMEs, as the successful experience of developed countries indicate that those projects play a pivotal role in driving economic growth.

Citing Jack Ma Yun, a Chinese business magnate and Executive Chairman of the Alibaba group Al Sarkal also added, “Those who overcome their failures with passion, are the biggest winners. At Shurooq, we recently formed a youth council to harness youth’s capabilities in an interactive environment in line with UAE’s vision. We will further our ongoing efforts to develop institutional and corporate frameworks for the Youth and enable them to share their visions and insights on the future working environment.

 “Our role is to help you turn your ideas into practical programmes, but it is your responsibility to identify, create and develop the working environment in the future. You must also identify its sectors, priorities and culture.”

Present at the session was also Dr Tariq Sultan bin Khadem, Member of the Sharjah Executive Council and Chairman of Sharjah Directorate of Human Resources, who said: “We are not afraid of the fourth industrial revolution, it will not make jobs disappear, but change their nature. This means we need to acquire more knowledge and develop new skills. For instance, a few years ago, the only way we acquired pearls was when we dived into the sea for them. These days, we have other jobs and are acquiring life’s pearls (comforts) through those.”

The Sharjah FDI Forum, which was first launched in 2015 under the patronage of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, is organised by Sharjah FDI Office (Invest in Sharjah) with the support of the Ministry of Economy, and in strategic partnership with CNBC Arabia.

The fourth edition seeks to boost the emirate’s endeavours to attract more foreign investments, promote opportunities in main sectors, and strengthen the UAE’s position as a top investment destination in the region and the entire world.