Sharjah Economic Development Department “SEDD” completed 19,477 issued and renewed licenses during the first half of this year, with a growth of 37% over the same period of the year 2020. This was released according to data on licenses issued and renewed in the Department's branches located in the cities and regions of Sharjah.

In detail, the number of licenses issued and renewed in the Industrial Areas branch amounted to 13,009 during the first half of this year, with a growth of 40% over the same period last year. The Central Region branch came second with 3758 licenses and a growth of 37%, and Kalba branch came third with 1325 licenses and a growth of 28%. Then, Khor Fakkan branch followed with 1142 licenses and a growth of 17%, while Dibba Al Hisn branch issued and renewed 243 licenses with a growth of 25%.

The teams of Commercial Officers at SEDD Branches in the Eastern and Central Region as well as the Industrial Areas carried out 67,826 inspection campaigns during the first half, as these teams work continuously to ensure the safety of all economic practices in economic establishments in all regions of the emirate. Also, SEDD Branches have intensified their role during the current period in order to ensure that all establishments comply with the instructions, circulars and policies regulating doing business in Sharjah.

Likely, the total number of licenses that were subjected to technical evaluation to ensure their compliance with the requirements for the areas specified for the exercise of some economic activities and applicable in the regions of the emirate reached 7,723 ones compared to the second half of last year, with an increase of 90%.

In addition, SEDD Branches handled 5,151 complaints received during the first half of this year 2021. Also, according to the issued data, these complaints were distributed with consumer protection complaints forming the largest share of them with 4,591 complaints, followed by service agent complaints with 294 ones, and then complaints of commercial fraud with 266 complaints.

HE Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, explained that the Department, thanks to the wise leadership and its support for the economic sector through many economic stimuli, was able to achieve sustainable economic growth, which was evident in the results of the growth of operational performance for the first six months of the year. He added that Sharjah is characterized by the availability of competitive elements that make it an ideal economic destination for the business and investment community. Also, he pointed out that the volume of investments is expected to increase in the coming period, due to recent amendments to the Companies Law, which allows foreign investors to own full ownership.

He stressed that the issued data indicate a significant increase in the investment movement in existing projects. Such indicators show a sustainable growth for the economy of the emirate as it has a strategy through which it seeks to maintain a good pace in growth rates during the next stage, which depends on attractive elements that include the location and the great development witnessed by the service sectors.

For his part, Khalfan Al Herathi, Director of SEDD Branches, said that despite the economic challenges imposed by the last period, since January of this year, "Al Sharqiya" cities have witnessed a remarkable investment movement. He illustrated that the huge development projects launched by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah in the region, had a great impact on the economic sector. He added that the Department's indicators for the period from January to June show that the rates of issuance and renewal of licenses have achieved a remarkable increase of 37% over last year, which promises for commercial and economic recovery in the region.

Moreover, Al Herathi stressed that the Department's provision of advanced digital services and the use of the latest remote communication technologies to communicate with partners and the public customers as well as ensuring that services are provided to them smoothly and safely, contributed to encouraging and motivating their businesses and expanding their trade and economic activities in the emirate.