SEDD Confirms Exemption Of Licencing Fees For Economic Facilities

SHARJAH, (UrduPoint / Pakistan Point News / WAM - 01st Apr, 2020) The Sharjah Economic Development Department, SEDD, lauded the package of incentives and decisions approved by the Government of Sharjah to support the government and private entities, as well as business sectors and individuals.

These decisions cover all aspects of institutional and societal work without exception, to demonstrate that Sharjah offers a stimulating and supportive environment for business, and is attractive for foreign and direct investments, by strengthening the trust between the public and private sectors.

Commenting on this, Sultan Abdulla bin Hadda Al Suwaidi, SEDD Chairman, stressed that these decisions, which included economic facilities being exempted from annual fees for three months from 1st January 1st, 2020 to December 31st, 2020, are aimed at attracting investors to the emirate and stimulating investments. They also contribute to enhancing Sharjah’s regional status and its global position and play an important role in providing the appropriate climate and a better environment for customers and investors, as well as decision-makers. They could also help the emirate maintain its level of economic development and enable operating institutions and companies to continue their business and activities.

He indicated that the department has started adopting and implementing this decision, and thanked the major role of His Highness the Ruler of Sharjah, the Crown Prince and the Executive Council, for their rational leadership in setting up strategic directions during various situations, which contributed to advancing the economy.

He also added that the diversity of incentives approved reflects the awareness of the wise leadership over the importance of working together in the face of the current situation and to make practical decisions that meet the needs and requirements of the economic sector during these exceptional circumstances.

He noted that the licences that were renewed during the first quarter of this year will be taken into consideration before the issuance of the exemption decision, stating that they will be compensated during the same period next year to motivate the owners of licences and investors to continue operating their businesses, taking into account the current circumstances.