Number of licenses for economic activities in Sharjah

Media In – Sharjah – 16 January 2019
The total number of licenses for economic activities in the Emirate of Sharjah increased to 81,345 licenses at the end of the first half of January 2019, an increase of 591 licenses compared with 81235 licenses at the end of October 2018.
The continued growth of export licenses reflects the high frequency of all sectors in the emirate, which achieved significant growth during the last year, amid positive indicators showing continued economic growth in 2019, and confirms the expectations of many specialized international financial institutions.
The Sharjah 2018 report, launched by the Oxford Business Group last June in collaboration with the Sharjah Investment and Development Authority (SHURWA), showed the emirate’s gross domestic product (GDP) to reach 92 billion dirhams ($ 25 billion) in 2017, On the success of the approach taken by the local government to diversify sources of economy.
The contribution of the industrial sector in the gross domestic product of Sharjah was 16.9% during 2017, while the real estate sector contributed 13% and 12.1% to the wholesale and retail sector according to the same report which showed that the contribution of the oil and gas sector was less than 6%.
In terms of foreign direct investment, Sharjah attracted about 6 billion dirhams ($ 1.63 billion) in 2017, which was distributed to most economic sectors.
The Emirate of Sharjah has a business strategy that will maintain a good pace of growth during the next phase. It is based on attractive elements that include the distinctive geographical location and the great development witnessed by the service sectors, in addition to a system of innovative incentives.
Returning to the details of the movement of licenses for economic activities issued by the Department of Economic Development in Sharjah, the number of individual institutions 52,308 licenses at the end of the first half of January, accounting for about 64% of the total number of licenses issued by the Department.
In the limited liability companies, the number of licenses reached 23,304 during the same monitoring period according to the National Economic Register of the Ministry of Economy, about 2525 licenses for branches of companies from other emirates, 2280 licenses classified as a professional company, 227 for one company, 177 for public shareholding companies and 133 for foreign establishment branches The rest are distributed to other legal forms of companies