Sharjah Economic Development Department Completes 14,210 Licenses During 2021 Q3

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Sharjah Economic Development Department completes 14,210 Licenses during 2021 Q3

SHARJAH, (UrduPoint / Pakistan Point News / WAM - 26th Oct, 2021) Sharjah Economic Development Department (SEDD) completed 14210 issued and renewed licenses that were submitted through the department's smart applications, through its website portal and service centers. The licenses completed reached 1,473 issued licenses, and 12,737 renewed ones.

According to data released by SEDD about the issuance of licenses during the third quarter of this year, the commercial licenses took the lead with 868 licenses, followed by professional licenses that amounted to 432 licenses. Then, the industrial licenses hit 69 licenses, while the number of e commerce licenses reached 43 ones.

The renewal process witnessed a great growth in Sharjah. Therefore, the commercial licenses amounted to 7,795 licenses in the same period in 2021, followed by professional licenses with 4,286 licenses, and then industrial licenses that hit 504 ones. In addition, the number of renewed licenses for "Eitimad" domestic licenses reached 126, while the number of renewed e-commerce licenses reached 25.

Commenting on that, Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, said that the continued growth of business licenses confirms the strength of the local economy, the attractiveness of the investment environment, the emirate’s strategic location in the region and its advanced infrastructure, and other strategic economic and social elements. It also proves the availability of opportunities in various sectors and economic activities.

He confirmed that releasing these data is considered one of the important economic indicators that SEDD relies on to study the economic situation in the emirate. Also, HE stressed that the main strategic objective of the Department is to achieve a comprehensive development plan that enhances economic development in Sharjah. This can be attained through improving services to match the highest international quality standards in terms of speed of delivery and access to dealers in the economic sector and investors in the emirate, and striving to complete transactions with ease and effectiveness.

He illustrated that the data issued by the Department indicates that there is a noticeable increase in the movement of investment in existing projects.

He added that these indicators represent the sustainable growth for the economy of Sharjah. These figures also reflect the confidence of the business sectors in the investment opportunities available in the emirate.

From his side, Fahad Ahmed Al Khamiri, Director of Registration and Licensing Department at SEDD, said that the number of licenses, especially the e-commerce, has achieved a remarkable leap and growth that hit 317% during the third quarter of this year 2021, and the growth of "Eitimad" domestic license reached 17%. This represents the continuity and the ability to conduct business and economic activities in Sharjah. In addition, it shows the ability the emirate has to maintain economic balance in the main sectors.

In the context of geographical distribution, Al Khamiri indicated that there is a noticeable increase in the movement of issuing licenses in all cities of Sharjah. Therefore, SEDD Industrial Areas Branch issued 697 licenses, followed by the Main Branch with 455 licenses, and then the Central Region Branch with 174 licenses. When referring to the rest of the Branches, Khor Fakkan Branch issued 76 licenses, while the number of licenses issued in Kalba Branch reached 60, and Dibba Al Hisn branch issued 11 licenses in the same period.

Al Khamiri pointed out that the data issued by SEDD show a significant increase in the investment movement in existing projects. These are indicators that demonstrate the sustainable growth for the economy in Sharjah, as the emirate has a strategy through which it seeks to maintain a good pace in the growth rates during the next phase. Such thing depends on the elements of attraction that include the distinguished geographical location and the great development witnessed by the service sectors.

Moreover, Al Khamiri stressed that the service centers are considered one of the strategic partners of the Department, as they provide a set of procedures and services that are among the main priorities in conducting commercial activities. He also noted that the Department's digital services come within its initiatives to simplify procedures, reduce time and provide services that live up to the aspirations of customers.