Page 23 - ECI PR REPORT - DECEMBER 2024

12/11/24, 10:05 AM dayofdubai.com | Emirates Development Bank Drives Economic Growth in Fujairah with Focus on Innovation and Partnerships
Key Highlights From The Event

Strategic Partnerships: EDB’s CEO, H.E. Ahmed Mohamed Al Naqbi, highlighted the bank’s role in
fostering collaboration, enabling business growth, and driving innovation to support the UAE’s
economic goals.
Industrial and Tourism Growth: H.E. Sultan Jemei Al Hindasi, Director General of the Fujairah
Chamber of Commerce and Industry, underscored the emirate’s progress in industrial development,
tourism, and leveraging natural resources. Notable achievements include the Port of Fujairah and
the Fujairah Oil Industry Zone (FOIZ), both pivotal to global oil storage and trade.
Economic Contribution: The industrial sector now accounts for over 22% of Fujairah’s GDP, with
ongoing government initiatives to attract investment and diversify the economy.
Panel Discussions

1. Driving Growth in Key Sectors:
Moderated by Shaker Zainal, EDB’s Chief Business Officer, this session explored strategies to

boost Fujairah’s industrial and innovation capabilities. Panelists included:

H.E. Mohammed Obaid Bin Majed, Director General of the Fujairah Department of Industry
and Economy.
H.E. Sharief Al Awadhi, Director General of Fujairah Free Zone Authority.
Experts from the Ministry of Industry and Advanced Technology (MoIAT).
They discussed targeted investments and how Fujairah’s resources and infrastructure can

elevate its competitive edge across critical sectors.

2. Financing Growth and Innovation:
This session addressed financial frameworks and strategies to support businesses. Speakers
included:

Adnan Anwar, CEO of National Bank of Fujairah.
Faisal Al Suwaidi, Sales Manager at Etihad Credit Insurance.
Discussions focused on innovative financing, de-risking mechanisms, and inclusive financial
support to ensure sustainable growth.

Awards And Recognitions

The event concluded with an awards ceremony honoring strategic partners for their contributions to
Fujairah’s economic transformation.

https://www.dayofdubai.com/news/emirates-development-bank-drives-economic-growth-in-fujairah-with-focus-on-innovation-and-partnerships 2/2