Sharjah is launching the world’s first AI-powered trade license in collaboration with Microsoft and the Sharjah Publishing City Free Zone. This initiative, launched during the Sharjah Investment Forum (SIF) 2024, aims to align with economies driven by autonomous systems and digital data. Additionally, this process will allow entrepreneurs and investors to finalize the entire licensing procedure in under five minutes.
Transforming business launch processes
The new service will initially be offered through the Sharjah Investor Services Center (Saeed) and SPC Free Zone, allowing investors and entrepreneurs to secure their trade licenses in under five minutes. Plans are in place to extend this service to other free zones across Sharjah. This development establishes Invest in Sharjah as the world’s first investment promotion agency to use AI technology for issuing trade licenses, underscoring its dedication to enhancing collaboration and investment between regional and global markets.
SPC Free Zone, a flagship project of the Sharjah Book Authority (SBA), has also set a pioneering standard by becoming the first free zone to implement AI-driven licensing, transforming the process of launching a business in the region.
Enhancing business flexibility
Sharjah’s new AI-powered licensing system aims to boost the flexibility and efficiency of the business environment across various sectors. This advancement will not only expedite the launch of new enterprises but also bolster Sharjah’s status as a prime destination for foreign direct investment (FDI) and innovation. The emirate ranks fifth globally in FDI project growth and fourth in the Gulf region for startup ecosystems, positioning it as a leader in integrating technology into core sectors like agriculture, healthcare, and logistics.
This initiative is part of Sharjah’s broader vision to diversify its economy and cultivate a business environment that supports sustainable growth, aligning with its long-term development objectives.
Mohamed Juma’a Al Musharrkh, CEO of the Sharjah FDI Office, stated that this initiative will expedite the investment process and enhance the business environment in the emirate, demonstrating its commitment to fostering smart economies.
Al Musharrkh also noted that the new license will streamline business operations in Sharjah by reducing bureaucracy. The announcement was further made on the opening day of the Sharjah Investment Forum and reflects the emirate’s goal of becoming a premier destination for international companies.
Al Musharrkh further expressed that the agreement represents a significant advancement in Sharjah’s investment landscape, further solidifying its status as a premier global hub for innovative and sustainable investments. He emphasized that the integration of AI technology is transforming the region’s investment infrastructure, enabling Sharjah to remain competitive in attracting both local and international businesses. He also noted that the new service establishes a standard for the global movement towards automating business processes and utilizing AI advancements.
Attracting global investments
Naim Yazbeck, general manager of Microsoft UAE, mentioned that AI technology is transforming the business environment in Sharjah, creating a more efficient and innovative atmosphere. He indicated that by utilizing AI, they are improving operational efficiencies and promoting a culture of innovation that contributes to economic growth and attracts global investments. He highlighted that this transformative strategy positions Sharjah as a key hub for sustainable, future-focused business practices.
Empowering diverse sectors
Ahmed bin Rakkad Al Ameri, CEO of SBA, remarked that the AI-powered license and other innovation-focused incentives introduced by Sharjah significantly bolster the SPC Free Zone’s status as an integrated business hub that sets global standards. He noted that these initiatives place publishers and entrepreneurs from diverse sectors at the center of a dynamic, competitive, and trustworthy economic environment, while also encouraging innovative solutions across free zones. He expressed pride in being part of this achievement, which enhances the emirate’s appeal for business and investment, especially within the creative industries that depend on innovation and knowledge.
A vision for smart economies
This year’s Sharjah Investment Forum (SIF) will continue until September 19, at the Al Jawaher Reception and Convention Center. Organized by the Sharjah FDI Office (Invest in Sharjah) and held under the patronage of Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council member and ruler of Sharjah, this marks the 7th edition of the event.
The forum will highlight the latest developments in future technologies, digital skills, finance and banking, as well as environmental and renewable energy sectors that are shaping the investment landscape. The theme for this year is “A Futuristic Vision for Smart Economies.”
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