Sharjah's economy is anticipated to grow by up to 7.5 percent by 2025, according to Sheikh Fahim bin Sultan bin Khalid Al-Qasimi, Executive Chairman of the Department of Government Relations.

The expected expansion is attributed to progressive economic policies, heightened economic integration, and an increase in foreign investments within strategic industries.

Al-Qasimi emphasized the significance of ongoing dialogue with the private sector to enhance core industries such as manufacturing, trade, agriculture, and environmental sustainability during the Sharjah Ramadan Majlis 2025.

The event gathered various high-ranking officials, including Sheikha Bodour bint Sultan Al-Qasimi, President of the American University of Sharjah, and Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.

Al-Qasimi noted that Sharjah's economy is on an impressive growth trajectory, with the Gross Domestic Product (GDP) exceeding 145 billion dirhams (approximately $39.47 billion), while a growth rate of 6.5 percent was recorded in 2023, surpassing the global average growth by 3.5 percentage points.

During his address, Al-Qasimi highlighted the vital role of the private sector, stating that businesses located in Sharjah, particularly within the private sector, have been integral to the economy for over a decade.

He cited notable investments from global companies such as Halliburton and Amazon as indicators of confidence in the emirate's market potential.

Further forecasts revealed that continued integration and smarter policymaking in collaboration with the private sector could sustain economic growth between 6.5 percent and 7.5 percent in the forthcoming years.

The automotive industry and vehicle parts trading were identified as significant contributors to the economy, representing 24 percent, while agriculture accounted for 19 percent and manufacturing held steady at 17 percent, which includes the broader food ecosystem.

Attention was also drawn to the anticipated growth of the real estate sector, with major developers such as Alef Group and Arada making substantial investments in Sharjah.

Al-Qasimi underscored the necessity for identifying supply chain interdependencies and enhancing cooperation with the private sector to support this growth trajectory.

Al-Zeyoudi, the Foreign Trade Minister, highlighted Sharjah's growing appeal to businesses facilitated by initiatives like 'Invest in Sharjah,' the Sharjah Investment and Development Authority (Shurooq), and the Sharjah Research, Technology and Innovation Park.

He noted that the emirate aims to communicate the incentives, markets, and advantages provided by the UAE's Comprehensive Economic Partnership Agreements to attract further investment.

Meanwhile, Juma Al-Kait, Assistant Undersecretary for Foreign Trade at the Ministry of Economy, reported on the substantial increase in foreign trade, a critical facet of the UAE’s economic strategy.

UAE's foreign trade surged by 14.6 percent in 2024, reaching 3 trillion dirhams, outpacing the global trade growth rate of 2 percent.

In the case of Sharjah's foreign trade, an increase of 8.1 percent in 2024 compared to the previous year indicates significant potential for the private sector to leverage beneficial agreements.

Sharjah, recognized for its robust manufacturing, services, and finance sectors, boasts a non-oil economy that constitutes nearly 96 percent of its overall output.

The emirate is home to six specialized free zones, which offer flexible investment structures and advanced infrastructure capabilities.