Sharjah has taken a pioneering step in the world of business by launching the world’s first AI-powered trade licence, enabling entrepreneurs and investors to complete the entire licensing process in under five minutes. This ground-breaking initiative, launched at the Sharjah Investment Forum (SIF 2024), highlights the emirate’s commitment to embracing cutting-edge technology to foster investment and innovation.

The launch event was attended by H.H. Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah, and Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Investment and Development Authority (Shurooq). Also present were representatives from leading organisations, including the Sharjah FDI Office (Invest in Sharjah), Microsoft, and the Sharjah Publishing City (SPC) Free Zone.

Revolutionising the Licensing Process

The new AI-powered service will initially be available through the Sharjah Investor Services Center (Saeed) and the SPC Free Zone, enabling a seamless and rapid licensing process for investors. This innovative service will soon be extended to other free zones across Sharjah, making it the first investment promotion agency globally to adopt AI technology for issuing trade licences.

By adopting AI-driven processes, the service aims to significantly enhance the efficiency and flexibility of establishing businesses in Sharjah, further reinforcing the emirate’s standing as a forward-thinking destination for investment and enterprise.

A Milestone for SPC Free Zone and Invest in Sharjah

SPC Free Zone, an initiative under the Sharjah Book Authority (SBA), has set a new benchmark by becoming the first free zone to implement AI-driven licensing. The CEO of Invest in Sharjah, Mohamed Juma Al Musharrkh, expressed his enthusiasm for this milestone, stating, “This agreement marks a transformative leap in Sharjah’s already attractive investment environment, positioning the emirate ever more strongly as a leading global destination for future-focused, innovative, and sustainable investments. By integrating AI technology, we are redefining an investment-friendly infrastructure, ensuring Sharjah stays ahead in attracting local and international businesses.”

AI Technology Empowering Business Growth

Microsoft UAE’s General Manager, Naim Yazbeck, emphasised the transformative impact of AI on the business landscape, stating, “AI technology is revolutionising the business landscape in Sharjah, enabling a more efficient and innovative environment. By leveraging AI, we are not only enhancing operational efficiencies but also fostering a culture of innovation that drives economic growth and attracts global investments.”

Ahmed bin Rakkad Al Ameri, CEO of the Sharjah Book Authority (SBA), also highlighted the impact of the initiative, noting that it strengthens the SPC Free Zone’s position as a globally recognised business hub, especially for the creative industries. “This AI-powered licence and similar innovation-first incentives introduced by Sharjah further enhance SPC Free Zone’s position as an integrated business hub setting global standards in business. These initiatives put publishers and entrepreneurs from various sectors at the heart of a dynamic, competitive, and trusted economic environment.”

Sharjah’s Vision for a Sustainable Future

The introduction of the AI-powered licensing system reflects Sharjah’s broader vision to create a diversified and sustainable economy that embraces technology and innovation. The emirate’s efforts in integrating AI into its core sectors have already positioned Sharjah as a leader in Foreign Direct Investment (FDI) growth, ranking fifth globally in FDI project growth and fourth in the Gulf region for startup ecosystems.

By accelerating the process of establishing new businesses and enhancing the overall efficiency of its business environment, Sharjah is set to strengthen its position as a premier destination for investors, entrepreneurs, and businesses seeking a future-focused and innovation-driven environment.

This initiative is a testament to Sharjah’s commitment to fostering a business-friendly climate that supports sustainable growth and aligns with the emirate’s long-term development goals. As AI continues to shape the future of business, Sharjah stands at the forefront, paving the way for a new era of investment opportunities and technological advancement.

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