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AED 152 billion is the general production in Sharjah in 2016 with a growth of 4% SEDD releases its Sixth Edition Annual Report of 2016 with Distinct Economic Indicators

05-10-2017
Sultan bin Hadda Al Suwaidi: “Sharjah maintained high growth rates, making the Emirate an attractive destination”. Sharjah Economic Development Department (SEDD) released its sixth edition of the 2016 annual report which highlights its reports throughout the year. The report included the services, activities, initiatives and policies implemented by the Department within the framework of its economic vision to achieve economic well-being in the Emirate. It also included the objectives the Department seeks to attain within its comprehensive sustainable development process at the local and federal levels. The sixth edition is a developmental version of previous publications, in which the department has been keen to provide details of the economic planning and strategic performance for the year 2016 at the level of the Department and the Emirate of Sharjah. Commenting on such an occasion, HE Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, said that the report reflects the vision and directions of His Highness Sheikh Dr. Sultan bin Muhammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, to attain sustainable development of the Emirate's economy through promising steps taken by the Department in 2016. HE added that the Department was able to design and implement number of economic initiatives and policies that helped in achieving the objectives of customers’ convenience of the major investors and businessmen. Also, it was able to communicate directly with all customers through the use of the digital and technological environment to be one of the extended arms of the Department to reach the investor everywhere. In addition, SEDD was able to provide comprehensive services in a modern and sophisticated way to reach more than 75 electronic service and 46 smart service launched by Smartphones with a typical achievement to connect with many local and federal departments and agencies in order to facilitate procedures. Furthermore, HE emphasized that UAE, along with the Emirate of Sharjah, maintained high growth rates, despite the global economic challenges and changes. Such a thing made the emirate an attractive destination for residence and work. Also, Sharjah has achieved a great increment over the last three years in population with a rate of about 15% by the end of 2016. Moreover, HE stated that various sectors in Sharjah achieved distinguished growth in several sectors such as 6% in the manufacturing sector, 5% in construction, 3% in wholesale and retail sector, 5% in restaurant and hotels sector, and 4% in real estate and business services sector. It should be noted that the general production rate in Sharjah exceeded 152 billion dirhams in 2016 and reached a growth of 4%. Also, the industrial production hit 17 percent of the Emirate’s overall outcome, whereas the industrial licenses increased by 2.3 percent. In addition, HE emphasized that due to the wise directives of HH Sheikh Dr. Sultan bin Muhammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, whom called for paying attention to development and stability, Sharjah was crowned in the third place of the 10 best cities in the Middle East. Also, Al Suwaidi stated that the Department attained great achievements in 2016 at the economic level which resulted in a growth rate of domestic production in 2016 by 4% and an increase of about 72000 active licenses managed by the Department with a growth rate of 6.1% in the Emirate of Sharjah. Furthermore, HE stated that the Department contributed in a new development at the economic field in 2016 which was based on sustainability and competitiveness, simplifying procedures, as well as relying on international competitiveness indicators and standards for performance standards. Also, it has concentrated on working on the development of national industry, improvement of commercial sectors, and establishment of economic centers throughout the Emirate. Then, HE stressed that the release of the annual report is an important annual event that goes in line with the Emirate’s growth which requires the availability of data, statistics and analysis for investors and decision-makers. Also, the report monitors the most important economic indicators in the Emirate in order to document the economic developments and visions of the Emirate. Therefore, HE added that all the other authorities and departments can easily access the annual report and develop the prospects of future developments in the Emirate. The report includes the economic march of the Emirate by monitoring and recording all the developments and changes that are achieved annually at the level of activities and sectors. It also reflects the efforts placed to promote economic and social development in order to implement the wise directives of HH Sheikh Dr. Sultan bin Muhammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, that calls for supporting economic growth, human and sustainable development. Also, HH’s directives calls for creating the appropriate climate for activating investments in various productive and service sectors. It should be noted that the annual report confirms the great strides Sharjah takes in the field of diversified economy at which it has achieved a high level of development and progress under wise leadership. Also, it has used the available resources to attain the best achievements, too. In addition, the report provided sufficient space to track the local economy in general and the economic indicators of the Emirate of Sharjah in particular and noted the promising steps taken by the Department in 2016. Besides, the report includes ten main titles which are From Licensing to Sustainability and Competitiveness, Consumer Protection and Controlling Facilities, National Entrepreneurship and Business Sector Development, Industrial Development, Glorious Past and Promising Future, Economic Clusters in Sharjah, Excellence in Technological Platform, Strategic Planning and Performance Excellence, Local Cadres Anticipating Future, SEDD in Regional and Global Forums, and Social Responsibility, SEDD’s Main Priority. As for the sustainable development, the social responsibility aspect has been extended to support the research knowledge of university students and the initiative to support entrepreneurial projects for young people who run business in the Emirate. Also, the business sector in the Emirate of Sharjah has developed a reduction in the time of completing licenses procedures in less than one working day. It is worth mentioning that the report stated that there is opportunity for a new beginning for the development of trade and the development of industrial investment in the Emirate of Sharjah too. As for promoting the Emirate, the Department participated in a number of local and international events in 2016 in order to highlight the potential of Sharjah and promote investment opportunities. In addition, SEDD facilitated the access to the annual report by visiting the Department's website so that the investors, consumers and others will benef