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15 July 2024

SEDD focuses on economic diversity

By Staff

Sharjah Economic Development Department (SEDD) has adopted best practices in quality management and procedures in 2015. It focuses on expanding the economic base in order to attain sustainable development in Sharjah and to encourage investment, especially so local and federal entities enjoy economic awareness and are conscious of the importance of economic diversity.

The Government of Sharjah has paid great attention in implementing laws and legislations that guarantee provisions for encouraging and stimulating business environment in the emirate to attain economic wellbeing.

Sultan Abdullah bin Hadda Al Suwaidi, Chairman of SEDD, said that the department focused on directing huge investment to diversify the economic base. This is in line with the directives of the government to place great efforts to encourage private sector to contribute to the process of development. The GDP growth of the emirate in 2015 reached more than 8 per cent.

Amal Jassim Habash, Deputy Director of Commercial Affairs Department, said SEDD activities reflect a sincere shift of the emirate into becoming a diversified economy, based on knowledge and sustainability.

The most important sectors that the Department focused on last year include the retail sectors, shopping centers, industrial and trade sectors in eastern areas, incubators, academic centers as well as nutrition sector - all related to domestic enterprises, she added.

SEDD also organised several business and investment workshops including Innovation Enterprises workshop and Personal Enterprise Brainstorming workshop to help share new ideas for small projects.

SEDD held exhibitions for small enterprises sector in the eastern region to support local projects. Also, there was a record growth in the issuance of ‘Eitimad’ licences.

An Industrial Affairs Department was established within SEDD to maintain direct connection with the main industrial sectors in the emirate so as to better serve customers.

Mariam Al Suwaidi, Deputy Director of Industrial Affairs Section, SEDD, said the industrial sector contributes to more than 14 per cent of the GDP in Sharjah, which is expected to rise up to 25 per cent by 2025.