Sharjah Asset Management launches new corporate strategy for 2023-25

Sharjah Asset Management Company, investment arm of the Government of Sharjah, on Tuesday announced the new institutional strategic plan for the 2023-25 to promote the economic and social development of the Emirate of Sharjah

The new strategy, which is approved by the company's board of directors, will be implemented 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," according to the statement issued by the company.

The new strategy was outlined during a meeting held recently, chaired by Waleed Al Sayegh, CEO of Sharjah Asset Management.

Ibrahim Al Houti, CEO of Osool Services; Naila Al Meraikhi, executive director of Strategic and Excellence Department, senior leaders, executives, heads of departments and sections, company employees, and affiliates attended the meeting.

Two main assets

“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," Waleed Al Sayegh said.

"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 said 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.”

Sharjah an inspiring model

Naila Al Meraikhi 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," she said.

"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 said.

She added that 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.

6 core values in new strategy

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.

The company's new strategy adopts creative ideas that provide distinguished services with added value to create a positive difference in society, with a commitment to applying the concepts of creativity, innovation, and team spirit to enhance teamwork and build positive fruitful relationships with all parties.

The company also believes in institutional agility through rapid response to changes with flexibility, efficiency, and smoothness to enhance business continuity, and keep pace with developments in the labor market to ensure the needs of concerned parties are met.

Goals and objectives

The strategic plan for Sharjah Asset Management focused on achieving a set of objectives by following four main axes: financial axis, customers axis, internal operations axis, and the learning and growth axis, all of which seek to enhance the financial position of the company and improve market value and competitiveness of Sharjah Asset Management within sovereign wealth funds, to enhance the experience of customers and all stakeholders.

The company’s strategic plan seeks to achieve a number of goals, most notably that of creating a diversified and effective financial base that works to attract shareholders and exceed their expectations. This is to be done by building reliable and innovative partnerships with key local and international sectors, with a high level of quality to exceed the expectations of stakeholders, in addition to promoting a healthy work environment based on motivation and empowerment of the work team.

— muzaffarrizvi@khaleejtimes.com