News Details

SEDD releases 2017 Annual Report, Licenses Report and Central Region Booklet

06-12-2018

HE Sultan Abdullah bin Hadda Al Suwaidi, Chairman of Sharjah Economic Development Department, emphasized that the Department implies the best sustainability criteria for investment by adopting a 100% comprehensive digital transformation vision.

 

Sharjah Economic Development Department “SEDD” issued its seventh annual report for 2017, which highlighted its efforts throughout the year. The report included the services, activities, initiatives and policies implemented by the Department in the context of its economic vision to achieve economic well-being in the emirate at the local and federal levels.

This edition is a development version of previous publications, during which the Department was keen to provide details of the economic planning and strategic performance for the year 2017 at the level of the Department and the Emirate of Sharjah.

HE Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, stated that the Report reflects the vision and orientations of His Highness Sheikh Dr. Sultan bin Muhammed Al Qasimi, Supreme Council Member and Ruler of Sharjah to achieve sustainable development of the emirate's economy through promising steps taken by the Department in 2017.

HE added that the Department succeeded in designing and implementing number of economic initiatives and policies that have achieved the goal of reaching the leisure of customers from major investors and businessmen. In addition, SEDD paid great attention to working with all customers using the digital and technological environment whereas the rate of digital shifting in SEDD reached 100% with a typical completion of connectivity with several local and federal departments and agencies to facilitate procedures. Likely, HE pointed out that “Amaal” service centers completed more than 54351 transactions during the year 2017 with a growth of 10% more than 2016.

In addition, HE SEDD Chairman stressed that UAE’s economy in general and Sharjah’s economy in particular are growing fast, despite the global economic challenges, changes and global market volatility. Likely, he pointed out that there is a high per capita share of GDP in the emirate, and diversified economy structure that doubles foreign direct investment. Such things are driven by the tremendous achievements of HH Ruler of Sharjah, which has strengthened the emirate's economy and maintained its high competitiveness as the third largest economy in the country.

On the other hand, HE explained that the Department has followed the application of value added tax through campaigns and meetings preceding the tax legislation and implementation. The Department also organized a comprehensive field control plan to ensure that all economic establishments in the Emirate comply with tax laws. In 2017, the Department also launched a fraud complaint service through smart phones.

Furthermore, HE illustrated that it is easy for various parties to review annual report and to develop the prospects and future of development in the Emirate of Sharjah. Such report documents the economic process of the Emirate by monitoring and recording all the developments and changes that are achieved annually at the level of activities and sectors and reflects the efforts to promote economic and social development in implementation of the directives of His Highness Sheikh Dr. Sultan bin Muhammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, Which has strengthened the emirate's economy and maintained its high competitiveness as the third largest economy in the country.

On the other hand, HE pointed out that the Department has followed the application of value added tax through campaigns and meetings preceding the tax legislation and implementation. The Department also organized a comprehensive field control plan to ensure that all economic establishments in the Emirate comply with tax laws. In 2017, the Department also launched a fraud complaint service through smart phones.

He added that it is easy to various stakeholders to view the annual report, which documents Sharjah’s march through monitoring and recording of all developments and changes annually achieved at the level of activities of different sectors. Also, it reflects efforts to promote economic and social development in implementation of the directives of His Highness Ruler of Sharjah to support economic growth based on human development and sustainable development, as well as creating the right climate for activating investments in various productive and service sectors.

In addition, HE illustrated that the annual report confirms that Sharjah has taken great strides in the field of economic diversification and achieved a high level of development and progress under wise leadership seeking to use the energies and resources available to achieve the best achievements.

He stressed that the issuance of the annual report is considered an important annual event that takes into account the growth witnessed by the emirate, which requires the availability of data, statistics and analysis for investors and decision makers. Likely, the report monitors the most important economic indicators in Sharjah to document the economic developments and visions of the Emirate.

Furthermore, the Department released a booklet entitled "The Central Region of Sharjah" in the belief that the central region is a treasure of investment for its enjoyment of environmental, social and economic richness as the Department continues to achieve its objectives such as comprehensive development. Therefore, SEDD has increased the number of workers in the central region to accelerate the process of facilitating transactions. Likewise, it has increased the number of commercial officers by 100% in 2016. The Department also held regular meetings with investors in order to deepen the investment and trade relations with them.

The Chairman stated that the Central region witnessed an unprecedented boom in the total number of licenses issued and renewed during the past years, jumping from 3447 licenses to 6305 ones in 2016 with an average growth rate of 23% for all types of licenses.

In addition, SEDD issued the fourth version of the licenses report, which includes the movement of business licenses in the emirate, the economic anatomy of geographical regions and the relative weight of the sectors and main activities.

Thus, the total number of active registered licenses reached 73111 ones in 2017, which is more than the number of licenses effective compared to last year, which was 71660 or 2%. It should be noted that the commercial licenses registered an increase in the total number of licenses to reach 47,705 licenses in 2017 with a growth rate of 2% compared to 2016.

From her side, Noura bin Sandal, Deputy Director of Economic Planning and Studies at SEDD, added that the annual report and licenses report are important releases that go in line with the emirate’s growth, which requires the provision of needed data, statistics and analysis for investors and decision makers. The report carries the most important economic indicators in the Emirate of Sharjah in order to document the economic developments and visions of the emirate. This, in turn, makes it easier for the various parties to review all the developmental stages that Sharjah went through in the economic field and reflects the placed efforts to promote economic and social development. Such a thing is done to follow the directives of His Highness Ruler of Sharjah to support economic growth based on human development and sustainable development, as well as creating the right climate for activating investments in various productive and service sectors. Likely, she pointed out that the annual report confirms that Sharjah has made great strides in the field of economic diversification and achieved a high level of development and progress under wise leadership seeking to use the energies and resources available to achieve the best achievements.

Moreover, bin Sandal illustrated that Central Region Booklet comes to highlight one of the most important areas in the emirate with its resources and tourist sites. Thus aiming to encourage the investor both in professional and commercial investment by transforming it into a business incubator and providing all facilities to create an ideal and attractive investment environment.