Sharjah records higher economic activity as new licences increase 13.6%

Business activity in the emirate of Sharjah increased during the first half of this year as the number of new licences issued by the Sharjah Economic Development Department (Sedd) totalled 3,183 as compared to 2,802 in the same period last year, an increase of 13.6 per cent.

In all, 33,192 licences were issued and renewed by the Department in the first half of 2015 as compared to 31,338 in H1 2014, a rise of four per cent.

During the first half of this year, 30,009 licences were renewed as compared to 28,536 as against the same period last year.

Sultan Abdullah bin Hadda Al Suwaidi, Chairman of Sedd, said the issuance of quarterly reports is considered one of the most prominent and important economic indicators that the department relies on to examine the economic status of the emirate.

Fahad Al Khamiri, Director of Registration and Licensing Department at Sed, said the report indicates that there is an increase in investment in existing enterprises in Sharjah which shows that there is a sustainable growth in the emirate’s economy.

According to official data announced by Sedd, the highest number of licences were issued in March 2015, registering 6,238 licences as against 5,416 in the same month last year, an increase of 15 per cent.

In March alone, nearly 5,604 licences were renewed by the Sharjah entities in comparison with 4,829 during the same month of 2014, an increase of 16 per cent.

Commercial licenses were the most active segment totaling 54 per cent, followed by occupational licences at 32 per cent, industrial at three per cent and domestic licenses at one per cent.

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