The Chairman of Sharjah Media City has stated that their aim is to achieve a growth rate of over 10% in new licenses by the end of the year.
Dr. Khalid Al Midfa, the Chairman of Sharjah Media City (Shams), announced that the organization has witnessed a remarkable growth in the number of new licenses for companies in recent years, with a target of over 10% growth by year-end. In an interview with the Emirates News Agency (WAM) on the sidelines of the Annual Investment Meeting, he revealed that Shams had implemented various projects to develop the media and creative sectors in Sharjah Media City and the UAE.
Dr. Al Midfa considers the Annual Investment Meeting as a crucial platform that brings together regional and global investors and companies, providing an excellent opportunity for Sharjah Media City to interact with investors and companies and exhibit its investment opportunities in the media sector to expand its business network. This, in turn, contributes to establishing a new approach to entrepreneurship based on innovative ideas that enhance creative industries.
Dr. Al Midfa stated that Sharjah Media City supports start-ups with specialized programs to help them continue their work, grow, and thrive in the media and creative sectors. It also supports the growth of innovative entrepreneurs by granting licenses that meet their future needs in the best way possible. He emphasized that Shams enjoys excellent interest from company owners, as evidenced by the significant growth in the number of new licenses. By participating in the Annual Investment Meeting, Sharjah Media City 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. Responding 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 specialized 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.
The UAE is home to several high-profile media companies, including Dubai Media City, Abu Dhabi Media, and twofour54. These companies have helped to establish the UAE as a regional hub for the media and creative industries. Moreover, the country’s strong infrastructure and advanced technology have made it an ideal location for companies looking to expand their digital presence. This has been particularly evident during the COVID-19 pandemic, as more companies have shifted their operations online.
According to a recent report by Dubai Future Foundation, the UAE’s media and entertainment sector is expected to grow at a compound annual growth rate (CAGR) of 6% between 2020 and 2025. The report also noted that the sector is expected to contribute more than AED 20 billion to the UAE’s economy by 2025.
Dr. Al Midfa’s comments reflect the growing optimism and enthusiasm for the UAE’s media and creative sectors, particularly in Dubai and Abu Dhabi. With the UAE’s investment-friendly policies and advanced infrastructure, it is likely that the country will continue to attract global companies and investors in the coming years, further bolstering the growth of its media and creative industries.
The UAE’s media companies, such as Dubai Media City, Abu Dhabi Media, and twofour54, have been at the forefront of establishing the country as a regional hub for the media and creative industries. These companies have played a critical role in supporting the growth of the sector by providing a supportive environment for entrepreneurs and startups.
Moreover, the COVID-19 pandemic has accelerated the shift towards digital media, further bolstering the UAE’s position as an ideal location for companies looking to expand their digital presence. This has led to an increase in demand for digital marketing, e-commerce, and content creation services.
