Sharjah Media City targets over 10% growth in new Licences by year-end: Chairman

Sharjah Media City targets over 10% growth in new Licences by year-end: Chairman

ABU DHABI, 9th May, 2023 (WAM) -- Chairman of Sharjah Media City (Shams) Dr. Khalid Al Midfa said that Shams had achieved a notable increase in the number of new licences for companies in recent years, with a target of achieving over 10% growth by year-end.

In a statement to the Emirates News Agency (WAM) on the sidelines of the Annual Investment Meeting, Dr. Al Midfa explained that Shams had implemented many projects to develop the media and creative sectors in the Emirate of Sharjah and the UAE as a whole.

The Annual Investment Meeting, he noted, is an important platform that brings together regional and global investors and companies, as it provides a valuable opportunity for Shams to interact with investors and companies and exhibit its investment opportunities in the media sector to expand its business network.

“This contributes to establishing a new approach to entrepreneurship based on innovative ideas that enhance creative industries,” he added.

Dr. Al Midfa stated that Shams supports start-ups with specialised programmes to help them continue their work, grow and thrive and engage in the media and creative sectors. It also supports the growth of innovative entrepreneurs by granting licences that meet their future needs in the best way possible.

He also emphasised that Shams enjoys excellent interest from company owners, as evidenced by the significant growth in the number of new licences. By participating in the Annual Investment Meeting, Shams aims to showcase the investment opportunities available in the media sector and attract new investors from both inside and outside the UAE.

Shams supports economic growth through its strong global network of companies, expands business establishment operations, provides a comprehensive technology system and supports entrepreneurs in various sectors.

In response to a question about the prospects for growth in the UAE's media sector, Al Midfa stated that investment opportunities in the country's media sector are very promising, especially in light of the technological advancements being witnessed worldwide and the UAE's specialised infrastructure and unique geographic location.

He expects to see more momentum and significant growth in media sector investment in the country in the coming years.