Sharjah is expected to draw a total of  Dh1 billion ($272.2 million) foreign direct investment (FDI) this year, an anticipated growth of 15 per cent on 2016, according to Sharjah’s government authorities.

The figures are a massive testament to Sharjah’s focus on encouraging overseas businesses to establish and expand their assets in the emirate, and emphasise the overall attraction of its unique prospects, said the Sharjah FDI Office (Invest in Sharjah) of the Government of Sharjah.

Sharjah witnessed a record FDI of Dh912 million ($248.2 million) last year, said the Wam news agency report.

Mohammed Juma Musharrakh, director of Sharjah FDI Office, said that Sharjah's tourism and travel sector is expected to grow to more than Dh5 billion ($1.3 billion) by 2019, while the transport and logistics sector is projected to reach Dh7 billion ($1.9 billion).

He added that the healthcare sector is expected to touch Dh8.76 billion ($2.38 billion), while the environment and sustainability sector is predicted to make great leaps ranging from Dh87.6 billion ($23.8 billion) to Dh171 billion ($46.5 billion) by 2019.