Sharjah Economic Development Department “SEDD” empathized the implementation of incentives package and decisions approved by Government of Sharjah to support government and private entities, business sectors and individuals. These decisions reflect the high concerns of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and His Highness Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of the Executive Council, as they included all aspects of institutional and community work, without exception, to prove that Sharjah is a stimulating and support business environment as well as attract foreign and direct investment by enhancing trust between the public and private sectors.

Commenting on that, HE Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, emphasized that such decisions are still carried on by SEDD. These decisions included the continuation of the exemption decision for the renewal of licenses for economic establishments, which includes the three months annual fees. Also, the decisions included deduction (50%) from delay fines and inspection violations for economic establishments, whereas their owners should amend their conditions within three months from decision date, in addition to the provision of a 50% discount upon issuance of a license for industrial establishments, in order to enhance the contribution of the industrial sector to the GDP. In addition, the incentives included exemption of private nurseries from all government fees. These two decisions will not be forced anymore by the beginning of November 2021.

HE stated that these decisions are attractive to investors in the emirate whereby they will stimulate investments, as they contribute to strengthening Sharjah’s regional and global position. Likely, HE clarified that such decisions play an important role in providing the appropriate climate and environment for dealers and investors as well as decision-makers and will help in maintaining the level of economic development in the emirate. Likewise, HE said that such decisions will enable operating institutions and companies to continue their work and activities in an easy and effective ways.

Furthermore, HE pointed out that the Department has begun to adopt and implement this decision. In addition, HE expressed his gratitude and thanks to His Highness the Ruler of Sharjah, His Highness the Crown Prince and Deputy Ruler of Sharjah, and the Executive Council for their wise leadership and role in setting sound strategic guidelines during various situations, which contribute to the advancement of the emirate and the advancement of the economy in it too.

For his part, Fahad Ahmed Al Khamiri, Director or Registration and Licensing Department, stated that these decisions have positive repercussions on accelerating the pace of economic development in the emirate. Also, they help to support the private sector in light of the current conditions that affect the performance of companies and institutions. Al Khamiri also added that SEDD would continue to play its role in stimulating the business environment and launching more qualitative initiatives that would support both local and foreign investors.

Furthermore, Al Khamiri called on customers from various sectors to benefit from the Department's digital services and complete their transactions through its website or its smart applications. He pointed out that since the department began implementing the decision to exempt the value of three months from the annual fees for economic establishments, which ended by the end of 2020, the value of discounts amounted to approximately 90 million dirhams.

Moreover, Al Khumairi explained that investors could complete all their transactions through the Department's digital services on smart phone applications and the department's website www.sedd.ae, or by visiting one of the service centers contracting with the Department, calling for the need to take advantage of such services.