Media ININ Economy We Trust
Sharjah 07-09-2019
Sharjah Economic Development Department (DED) has confirmed that the emirate’s economic development indicators have achieved remarkable growth in the first half of 2019, with total licenses issued and renewed in Sharjah during the first half of this year to 31190 licenses, a growth rate of 4 percent.
The report issued by the Department showed that business licenses issued during the first half of the year grew by 15 percent and the number of 2740 licenses, and renewed licenses increased to 28,450 licenses, a growth of 3 percent in the same period.
His Excellency Sultan Abdullah bin Hedda Al Suwaidi, Chairman of the Department of Economic Development in Sharjah, said that the data issued by the Department indicate that there is a noticeable increase in investment movement, which are indications of sustainable growth of the economy of the Emirate of Sharjah.These figures also reflect the confidence of business sectors in the investment opportunities available in the Emirate.
He explained that the Department is working to simplify the services and procedures in order to facilitate the procedures of registration of business and issuance of licenses and provide greater flexibility for investors and dealers in a way that allows them to establish their business within a short period of time, in addition to the Department’s continuous efforts to help investors through coordination with various local and federal government agencies.
He pointed out that the issuance of these data is one of the important economic indicators on which the Department depends to study the economic situation in the Emirate .. He stressed that the strategic objective of the Department is to achieve a comprehensive development plan that promotes economic development in Sharjah through the development of services to match the highest international quality standards in terms of speed of completion And access to dealers in the economic sector and investors in the Emirate and strive to complete transactions easily.
He said that the results show the efforts of the Department of Economic Development in Sharjah in the field of facilitating the conduct of business and commercial activities as initiatives launched by the effective contribution to raise the confidence of businessmen to the robustness of the local economy where the government sector stands with its private sector partners to ensure the continuity and growth of commercial companies. This enhances the continuity of the ambitious development process of Sharjah’s economy towards excellence and the consolidation of the emirate’s position as a financial and business center in the region and the world.
He stressed that these rates indicate the interest of the Department to provide dealers and investors in various regions of the Emirate of all services with high quality in accordance with the required international standards and approved.
The data issued by the Department of Economic Development in Sharjah revealed that commercial licenses topped the other for distribution according to the type of license, reaching 20009 licenses during the first half of this year, followed by professional licenses with 9722 licenses and then accreditation licenses, which reached 1121 licenses with growth rates of 3% and 5%. The department also introduced a new type of license, which is the electronic trading licenses, where it issued 9 licenses of this type during the first half of this year.
In the context of geographical distribution and horizontal development of economic activities and the distribution of licenses in the branches of the Department during the first half of 2019, the business licenses issued in the branches of the Department in Sharjah in both the main center and industrial zones recorded the highest rate in the number of licenses totaling 24676 licenses, while the number of Licenses in the branches in the Central Region 3795 licenses and licenses in the branches of the Department in the eastern region to the number of 2719 licenses with a significant growth rate of 3 percent and 12 percent and 8 percent, respectively.
As for the distribution of licenses according to nationalities, the UAE nationality achieved the first place in the possession of licenses with 14511 licenses. Saudi Arabia topped the GCC level with 185 licenses followed by Kuwait with 133 licenses followed by Oman and Bahrain with 65 licenses. 8789 licenses, Bangladesh with 5422 licenses, then Pakistan with 4685 followed by Afghanistan with 1553 licenses, Syria with 1494, Egypt, Iran, Jordan and Iraq respectively.
