SEDD releases 2024 Annual Report

Sharjah Economic Development Department “SEDD” released its Annual Report of the year 2024 under the slogan “Sustainable Economy”. The report included the most important developments and events witnessed by the economic sectors as well as the measures and efforts taken by the Department in all sectors and activities. It aims to provide a comprehensive tool for those dealing with the economic sectors in the emirate, and to introduce them to the most important results achieved, confirming its efforts aimed at supporting the business environment and enabling investment, in line with the aspirations of the wise leadership and meeting the expectations of investors and entrepreneurs.

In this context, HE Hamad Ali Abdulla Al Mahmoud, SEDD Chairman and Member of Sharjah Executive Council said: Under the wise vision and directives of HH Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah - and the diligent follow-up of HH Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah and Chairman of the Executive Council, the emirate has established a unique economic model that combines authenticity and modernity. This model reflects a firm commitment to achieving comprehensive and sustainable development, based on a balance between economic and societal growth. This vision has been translated into practical policies and initiatives implemented in accordance with comprehensive strategic plans aimed at achieving sustainable development, with an economic vision that anticipates the future and is in line with the best global practices in the areas of competitiveness and innovation.

To carry on, HE added that SEDD is moving towards its sustainable goals according to well-studied methodologies and work plans, anticipating the future in economic and development work and meeting aspirations towards the highest level of excellence and leadership, to ensure achieving global competitiveness and raising performance indicators in various fields. Likely, the Department worked on issuing the best and most comprehensive annual reports, with the aim of documenting the achievements of economic development in the Department. The statistics and data included in the report reflect the extent of the efforts made by SEDD in carrying out its tasks, and its keenness on continuous development in accordance with what its strategic objectives require, and its aspirations aimed at providing distinguished economic services, with a solid approach.

From his side, HE Fahad Ahmed Al Khamiri, SEDD Director, stated that the results and data represented through its annual report for the year 2024 show its success in achieving exceptional growth in the targets of accelerating economic activities of all kinds. Therefore, 71,318 economic licenses were issued and renewed, with a growth rate of 7% compared to the previous year, which reflects continued confidence in the business environment and the diversification of targeted sectors.

Also, HE Al Khamiri added that the Department constantly seeks to provide many facilities that contribute to enhancing the continuity of development in various fields, which enhances the strength of the economic and industrial sectors. HE carried on that SEDD works to constantly develop the business environment, utilize the latest systems and technologies, such as the Smart Investor and the implementation of government accelerators, and works to adopt quality systems to manage business continuity, which ensures the quality of digital services in the business environment.

On the other hand, Abdelaziz Omar Al Midfa, Director of Government Communication Department at SEDD, stated that issuing the Annual Report is considered an important annual event that keeps pace with the renaissance witnessed by the emirate, which requires the availability of data, statistics and analyses for investors and decision-makers. He clarified that the report monitors the most important economic indicators in Sharjah with the aim of documenting the economic developments and visions. This in turn facilitates various parties to view it and deduce the prospects and future of economic development in the emirate and also documents the economic progress witnessed in Sharjah. This is clearly displayed through monitoring and recording all developments and changes that occur annually at the level of various activities and sectors, and reflects the efforts made to advance economic development.

Also, Al Midfa pointed out that the first chapter in the annual report highlighted investments in Sharjah, exceptional indicators of issued and renewed business licenses, empowering businesswomen, and creating an attractive environment for foreign ownership. Then, the second chapter dealt with competitiveness, economic sustainability, investment attraction. He added that the third chapter addressed the issue of markets, as well as comprehensive control inspection campaigns. In addition, chapters four and five were mainly about digital trends and services as well as communication. Lastly, chapter seven highlighted SEDD’s achievement in the area of developing human cadres and investing in them.