The Board of Directors of Sharjah Asset Management Company, investment arm of the Government of Sharjah, has cleared the new institutional strategic plan for the 2023-2025 period, which seeks to enhance the economic and social development of the Emirate of Sharjah, in partnership with various public and private sectors.

Investment and social responsibility  promotion is encouraged through optimal use of resources to meet the needs of the Emirate’s society and ensuring its sustainable well-being.

The new strategy was outlined during a meeting  chaired by  Waleed Al Sayegh, CEO of Sharjah Asset Management, in the presence of Ibrahim Al Houti, CEO of Osool Services, Naila Al Meraikhi, Executive Director of Strategic and Excellence Department. Senior leaders in the company, executives, heads of departments and sections, company employees, and affiliates were also in attendance.

Al-Sayegh: Practical experience and young national cadres are the two main assets of the company.

During the meeting, Waleed Al Sayegh said: “Since the launch of Sharjah Asset Management 15 years ago, we have perfected our recipe for success through thoughtful and balanced investments, while setting high standards of sustainability, governance, transparency, and flexibility in dealing with local and international events and variables in our considerations. We have additionally succeeded in building two basic streams of wealth.

 First is the product of rich experiences and expertise the company has gained during these past years in numerous investments, market management, partnerships, institutional support, and real estate development, which have ultimately become an element of strength for the company. We were able to further build on, invest, and benefit from this wealth to achieve qualitative experiences that enhance the vision and mission of the Emirate Sharjah. The company strives to aid economic and social development in the emirate, provide a decent life and job opportunities for citizens, as well as distinctive infrastructure projects.”

He added, “The second wealth achieved by the company is that of the young national cadres who have made the country proud. The company considers them our winning bet, as over the past 5 years, we have been able to invest in and support the talented and ambitious new graduates. We have qualified as well as awarded many opportunities for them to prove their calibre. Sharjah Asset Management today comprises an elite group of ambitious and creative young leaders, whom we count on to lead the company in the future.”

Al Meraikhi: In the new strategic plan, we aim to make Sharjah an inspiring model for economic progress and development in the UAE and the world.

Naila Al Meraikhi, Executive Director of Strategic and Excellence Department, said: “Sharjah Asset Management Company is investing in the future of the Emirate of Sharjah through its projects in various sectors. The company’s strategy focuses on diversification and the creation of an investment portfolio that takes into account the ways in which different assets respond to the market and potential economic conditions, by investing money in various assets, geographical areas, industries and companies, and keeping the Sharjah Asset Management portfolio flexible and more robust. We successfully anticipate and mitigate challenges with a developed smart and flexible system, keeping pace with the proactive approach of the Emirate of Sharjah and the UAE in various fields, thus enhancing its capabilities and tools.”

She added: “The new strategy includes a package of projects and initiatives that support and seek to develop the economic growth environment within the Emirate of Sharjah with the aim of transforming the Emirate into an inspiring model for economic progress and development in the UAE and the world. The strategy also aims to enhance economic diversification in the Emirate, in order to achieve Sharjah’s leadership in various fields locally, regionally, and globally.”

 She confirmed that the criteria for institutional excellence are based on the existence of a clear strategic plan; for the duration of the company’s new strategy, necessary plans and work programs were developed to implement the company’s goals and policy in cooperation with all departments in the company. Studies and research were conducted in addition to direct supervision of the systems quality, improvement, and development processes to achieve the desired institutional excellence.

The new strategy is based on six core values: integrity, human capital, environment, innovation, cooperation and institutional agility. The company appreciates the importance of building strong ties based on trust and respect with all stakeholders by adhering to ethical standards and credibility in all that it offers. It also believes in the importance and value of every employee, and continuously seeks to achieve happiness for its employees by creating a positive work environment characterised by justice, job security, and ensuring the qualification and empowerment of human cadres. The company is keen to preserve the environment by following international laws and regulations, investing in and employing advanced technology in various activities to reduce environmental waste.