Rise in renewed and new licences

The percentage of new and renewed licences issued by the Sharjah Economic Development Department (Sedd) in 2009 has increased – by 3.8 per cent for new licences and 10.2 per cent for renewed licences compared to growth rates recorded during the previous year, according to a report by Sedd.

Ali bin Salem Al Mahmoud, Sedd Director-General, said: "Licences issued in 2009 have amounted to a total of 49,476, of which 4,428 were newly issued while 45,048 were renewals. This has resulted in an impressive increase over 2008."

According to the sector distribution of licences, profession licences issued by Sedd had the highest count, with 2,182 licences and a growth rate of 49.3 per cent, followed by 2,168 commercial licences with a growth rate of 48.9 per cent, and 78 industrial licences at a growth rate of 1.8 per cent.

Mahmoud said: "The rise in commercial licences and investors' constant renewal of these licences shed light on an economy that is able to interact with the private sector and stimulate an investment-attracting climate. This leads to the development of economic sectors."

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