“Sharjah Economic” achieves 8% growth in licenses issued for the first quarter of 2019

06-04-2019 Media in\ Sharjah
Sharjah Economic Development Department announced that the economic development indicators of the Emirate of Sharjah achieved remarkable growth in the first quarter of 2019. The number of licenses issued during this period reached 1464 licenses compared to 1240 licenses in the same quarter of 2018 with growth rate of 18%.
The number of renewed licenses increased from 13514 in 2018 to 14425 in the first quarter of 2019, an increase rate of 7 percent. The total number of licenses issued and renewed by the Department of Economic Development to 15889 in 2019 compared to 14754 in 2018 with a growth of 8 Which is a positive indicator of the interest of investors in the emirate and the growth of the economy in various sectors.
The data released by the Department for the first quarter of this year showed that the credit of the household has topped the issued and renewed licenses with a growth rate of 41% compared to the same period last year 2018 followed by professional licenses with a growth rate of 9%. In terms of industrial licenses, While commercial licenses reached an increase of about 6 percent in the first quarter of 2019.
Sultan bin Abdullah Al-Suwaidi, head of the Department of Economic Development in Sharjah, said that the issuance of these data is one of the important economic indicators on which the Department depends on studying 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, With the highest international quality standards in terms of speed of delivery and access to customers in the economic sector and investors in the emirate and seek to complete transactions easily and easily.
He pointed to the service centers, which are strategic partners of the Department of Economic Development, where these centers provide a range of procedures and services which are a key priority in the conduct of business activities.
He added that the data issued by the Department indicate that there is a remarkable increase in the movement of investment in existing projects, which are indicators of the sustainable growth of the economy of the Emirate of Sharjah and these figures reflect the confidence of business sectors with the investment opportunities available in the emirate .. He pointed out that the results of the Emirate, The renewal of business licenses is consistent with the overall growth in GDP recorded recently by Sharjah.
He pointed out that the digital services of the department comes within the initiatives of the Department to simplify procedures and reduce time and provide services that meet the expectations of customers.
In the context of the geographical distribution of economic activities, the total number of licenses issued and renewed in the main branch increased from 6227 in 2018 to 6440 in 2019 with a growth rate of 3 percent, while the rates of licenses in the Department’s branch in the industrial zones increased to 6119 in the first quarter of this year compared to 5575 licenses for the same period of 2018.
During the same period, licenses were significantly increased in the Central and Eastern Divisions in Kalba, Al-Zaid, Khorfakkan and Dibba Al-Hasn to reach 3,334 issued and renewed licenses in the first quarter of this year compared to 2952 licenses for the same period of 2018.
These rates indicate the Department’s interest in providing customers and investors in all regions of the Emirate with all its services in high quality according to the required international standards.
Al-Suwaidi pointed out that the ratio of transactions through digital services and through service centers, which reached 12 centers during the first quarter of this year, grew by 43% compared to the same period last year 2018, which confirms the success of the department in the digital transformation process which reached 100% For this year’s procedures to provide all facilities and provide many channels to complete transactions as soon as possible in order to promote investments and achieve sustainable economic development in the emirate.