SEDD releases 2022-2024 Corporate Strategy
Sharjah Economic Development Department “SEDD” announced the release of its 2022-2024 corporate strategy, with a vision that focuses on attaining a competitive, diversified and sustainable economy that leads to the economic welfare of the business community in Sharjah. Also, the strategy holds a mission that seeks to achieve comprehensive economic development and improve competitive business environment. Such thing helps to attain a competitive diversified and sustainable economy alongside with strategic partners.
The launch of the new strategy comes after holding number of meetings and workshops that were attended by HE Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, to place SEDD 2022-2024 corporate strategy. Thus, SEDD adopts an advanced methodology in strategic planning based on the best practices followed in this field.
The Department launched its strategy for the next three years, announcing the launch of a new phase in the economic development process, during which it will continue its endeavors to reach a competitive, diversified and sustainable economy. This is done to consolidate the Emirate's position as a global economic center, and to enable its economic ambitions as a competitive business environment.
The strategy focuses on four strategic objectives. The first objective focuses on sustainable economic growth, through which it will seek to launch strategic initiatives and projects to attract investments in value-added economic sectors and support their sustainability. Also, it sought to supporting the establishment and development of small and medium enterprises as well as contributing to the development of economic plans for the Emirate. Then, the second objective deals with enhancing the competitiveness of the business environment in order to achieve the happiness of the business community and ensure safe markets, which in turn enhances the emirate's access to advanced positions in indicators of carrying out business, global competitiveness, innovation, entrepreneurship and development.
In addition, SEDD third strategic objective came to enhance communication and build strategic partnerships that strengthen relations with its partners. This is because it plays a key role in upgrading the customer’s experience to the maximum potential to match the highest international quality standards in terms of speed of completion and access to customers and investors in the emirate. It is done by coordinating efforts with all concerned parties to facilitate business start-up and practice services, and to develop as well as implement flexible and sustainable policies and legislation, as these partnerships play a role in opening new opportunities for innovation and business excellence.
On the other hand, the fourth objective pays great attention on building distinct institutional capabilities in order to ensure the provision of all administrative services in accordance with quality and efficiency standards. Such thing is achieved through enhancing human capital capabilities and leadership in digital technologies, strengthening the innovation system, institutional excellence, and efficient planning and management of financial resources.
Commenting on that, HE Sultan bin Hadda Al Suwaidi, SEDD Chairman, said that the Department’s strategy 2022-2024 is based on the vision of HH Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and HH Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah and Chairman of the Executive Council, which emerges from the emirate's trends in economic and social development, with the aim to promote financial sustainability and stimulate the overall economy. The strategy also comes in response to economic changes, aligns with developments, and contributes to overcoming the challenges posed by the next phase. This is done to ensure the preparation of an integrated vision that serves as the emirate's economic map for the coming years. Likely, The strategy in its new set is a continuation of the Department's success story to make Sharjah a global economic destination, especially since the emirate is currently witnessing a great renaissance in all fields.
Moreover, HE stressed that the 2022-2024 strategy aims to confirm SEDD’s commitment to the strategic planning approach and align its plan with the plans of the local and federal government to achieve a promising leadership's vision. Therefore, it seeks to achieve the aspirations of citizens and residents from an economic perspective, as a driver of sustainable economic development in the emirate.