Sharjah Economic Development Department “SEDD” completed 73111 licenses issued and renewed in the Emirate of Sharjah during the last year 2017 with a total growth of 2% compared to 2016. These data were released through SEDD’s License Report of the year 2017.
The Report displayed that the licenses that were renewed last year, 2017, reached 67522 licenses with a growth rate of 4% compared to 2016. Also, it revealed that the commercial licenses came first in terms of the number of licenses effective in the Emirate of Sharjah in 2017 with a number of 47705 and a rate of 65%. These licenses were followed by the professional ones with a percentage 31%, industrial licenses with 3%, and Eitimad licenses with 1%. While the industrial licenses achieved the highest rate of growth of licenses issued with a rate of 27% in 2017.
In the context of geographical distribution and horizontal development of economic activities, the main branch hit the highest rates of business licenses movement of 48%, followed by the Industrial Areas Branch with a rate of 34%, then the Central Region Branch hit 10%. It should be noted that Khor Fakkan Branch reached 4% followed by Dibba Al Hisn Branch with a rate of 1%, respectively.
Commenting on the Report, HE Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, clarified that the release of such annually reports is considered one of the most important economic indicators on which the Department depends on to understand the economic situation of the Emirate.
HE added that the Department succeeded in focusing on the organization and activation of economic sector in Sharjah to encourage local and international investments in projects. Such thing represents one of the SEDD’s main objectives to attain through providing an economic climate conducive to growth and attracting investments.
In addition, HE stated that the Department is simplifying the services and procedures in order to facilitate business registration procedures, issuing business licenses and providing greater flexibility to investors and customers in a way that allows them to establish their business within a short period of time. Also, HE illustrated that the Department works to help the investors in Sharjah by coordination with various local and federal government bodies.
From his side, Fahad Ahmed Al Khamiri, Director of Registration and Licensing Department at SEDD, said that the Report issued by the Department indicates the remarkable continuation of the investment movement of projects in Sharjah. He added that these figures show the sustainable development of Sharjah’s economy and reflect business sector confidence of available investment opportunities too. Al Khamiri pointed out that the results of emirate’s business, including the issuance and renewal of business licenses, are in line with the vision of the department to lead the comprehensive development of a diversified knowledge-based economy.