SEDD completes 15920 licences during Q1, with a growth of 53%

The reports confirmed the continued growth in the number of licences, as the issued licences grew by 29%, compared to the licences issued for the same period in 2019.

The data issued by SEDD for the first quarter of this year revealed that electronic trade licences topped the issued and renewed licences with a growth rate of 292% compared to the same period last year, followed by industrial licences with a growth rate of 19%, and with regard to commercial licenscs, growth rates reached 13%. Whereas, professional licences reached an increase of 8% in the first quarter of 2021, and the growth of household dependency licences reached 5%.

His Excellency Sultan Abdullah bin Hadda Al Suwaidi, Chairman of Sharjah Economic Development Department (SEDD), revealed that the rate of issuance of business licences increased by 53% during the first quarter of this year, while the rate of renewal of licences reached 8%, which are good growth rates for the Emirate if compared to the international rates.

His Excellency added that the continued growth of business licences confirms the strength of the local economy and the attractiveness of the investment environment, the Emirate’s strategic location in the region, its advanced infrastructure, and other strategic economic and social components, as well as the availability of opportunities in various sectors and economic activities.

His Excellency stressed that the issuance of these data is one of the important economic indicators that SEDD relies on to study the economic situation in the Emirate, maintaining that SEDD's strategic goal is to achieve a comprehensive development plan that promotes economic development in Sharjah. Such endeavour comes by developing services to match the highest international quality standards, in terms of speed of achievement and access to dealers in the economic sector and investors in the Emirate, and completing transactions easily.

His Excellency added that the data issued by SEDD indicate that there is a noticeable increase in the investment movement in the existing projects, which are indications of a sustainable growth of the economy of the Emirate of Sharjah. The issuance and renewal of business licences are in line with the general growth in GDP that the Emirate of Sharjah recently recorded.

For his part, Fahd Al Khamiri, Director of Registration and Licencing Department at SEDD, confirmed that the number of licences, especially electronic trading licences, achieved a significant growth of 292% during the first quarter of the current year 2021, by 51 licences, while the growth of industrial licences reached 19%, by 623 licences.

Commercial licences grew by 13%, as the number of licences reached 10265 in the first quarter, while professional licences grew 8% by 4772 licences, and approval licences grew 5% during the same period by 209 licences, which indicates continuity and embarking on the practice of business and economic activities in the Emirate.

He pointed out that the data issued by SEDD indicate a remarkable increase in the investment movement in the existing projects, which are indications of a sustainable growth of the economy of the Emirate of Sharjah, as the Emirate has a strategy through which it seeks to maintain a good pace of growth rates during the next stage. This depends on attracting elements that include the distinctive geographical location and the great development witnessed by the service sectors, in addition to many incentives.

He emphasised that the service centres are considered among the strategic partners of SEDD, as these centers provide a set of procedures and services that are considered among the basic priorities in practicing commercial activities, noting that SEDD's digital services come within SEDD's initiatives to simplify procedures, reduce time, and provide services that meet the aspirations of customers.