Sharjah24: Sharjah Economic Development Department “SEDD” confirmed that the emirate's economic development indicators achieved remarkable growth in the third quarter of 2024, as the total number of issued and renewed licenses in Sharjah reached 17,981 ones, with a growth rate of 16% during such period.
In this context, His Excellency Hamad Ali Abdullah Al Mahmoud, Chairman of Sharjah Economic Development Department, said that the data issued by the Department confirms a noticeable increase in investment activity, which are indicators that point to sustainable growth in the economy of the emirate. HE added that these figures reflect the confidence of business sectors in the investment opportunities available in Sharjah. Likely, HE stressed that the economic strategy adopted by SEDD, which goes in line with the directives of the wise leadership, ensures the achievement of a continuously developing growth rates, as work and development continue in all cities of the emirate and on an ongoing basis from an urban renaissance that is clearly reflected in the development and growth projects, which in turn works to attract a greater number of visitors, strengthen the economy and increase investments in the emirate.
His Excellency SEDD Chairman explained that the movement of business licenses during the third quarter confirms the strength of the local economy and the attractiveness of the investment environment, and these are indicators of sustainable growth in the economy of Sharjah. He carried on that the emirate has a planned strategy through which it seeks to maintain a good pace of growth rates during the next phase, which depends on attractive elements including the distinguished geographical location, the great development witnessed by the service sectors, and the continuous development of services to match the highest international quality standards in terms of speed of completion and access to clients in the economic sector and investors in the emirate, as well as the pursuit of completing transactions with ease and convenience.
Additionally, His Excellency Fahad Ahmed Al Khamiri, Director of Sharjah Economic Development Department, confirmed that the released results for the issued and renewed licenses in Sharjah go on line with the general growth in the GDP in the emirate. His Excellency SEDD Director pointed out that the Department is working to simplify services and procedures, and provide greater flexibility to investors and customers, in a way that enables them to run their businesses within a short period of time. Likely, HE Al Khamiri stated that the third quarter report for the current year 2024 included the most important developments and events witnessed by the economic sectors and the measures and efforts taken by the Department in all sectors and activities in order to provide a comprehensive tool for those dealing with the economic sectors in the emirate, and to introduce them to the most important results it has achieved, confirming its efforts aimed at achieving balanced and sustainable economic performance, and enhancing business continuity in various fields.
Al Khamiri also said that the data released by SEDD represents a significant increase in investment activity in existing projects, explaining that the service centers are considered strategic partners of the Department, as they provide a set of procedures and services that are considered basic priorities in conducting commercial activities.
On the other hand, Khalid Al Suwaidi, Deputy Director of Registration and Licensing Department at SEDD, illustrated that licenses issued during the third quarter amounted to 2,137 ones, while renewed licenses increased to 15,844 licenses. Also, commercial licenses ranked first according to license type, reaching 1,267 licenses issued during the third quarter, followed by professional licenses with 605 ones, then industrial licenses, which reached 126 ones, while e-commerce licenses came in fourth place with 76 licenses, and Eitimad licenses was the lowest with 63 licenses.
As for the renewed licenses, commercial licenses came first with a total of 9,991 licenses, followed by professional licenses with 4,818 ones, and then industrial licenses with 747 ones, while the number of Eitimad licenses reached 227 licenses, whereas e-commerce licenses hit 61 licenses.
In addition, Khalfan Al Herathi, Director of SEDD Branches, pointed out that all the Branches are witnessing a remarkable investment movement, as the huge development projects launched by HH Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, in various regions and cities of Sharjah, have had a significant impact on the economic sector. He pointed out that the Department’s indicators for the recent period show that the rates of issuing licenses have achieved a remarkable increase, which bodes well for a commercial and economic recovery in the region.
The data highlighted the geographical distribution and development of activities in Sharjah, therefore, the number of licenses issued by SEDD Industrial Areas Branch amounted to 975 licenses, while the Central Region branch with 200 licenses, then Khor Fakkan branch with 89 licenses. Also, Kalba branch dealt with 68 licenses, while Dibba Al Hisn branch completed 18 issued licenses.
As for to the issued licenses, SEDD Industrial Areas Branch completed 7,295 licenses. Then, the Central Region branch completed with 1,552 licenses, while Khor Fakkan branch dealt with a total of 587 licenses. Likely, Kalba branch accomplished 574 licenses, while Dibba Al Hisn branch dealt with 106 licenses.
For his part, Salim Ahmed Al Suwaidi, Deputy Director of Commercial Control and Protection Department at SEDD, stressed that the Department focuses to work with traders and consumers to create a fair relationship between the two parties, noting that SEDD communicates through all possible means from digital channels and periodic inspection campaigns and tours to reach the consumers in Sharjah’s markets in order to educate and inform them about their basic rights. Likewise, the Department communicates continuously with traders to inform them about their rights and duties. Al Suwaidi added that SEDD teams are always ready to protect the market. He carried on that the commercial officers from SEDD carried on the conduct of periodic inspection campaigns during the third quarter of this year, with the total number of tours reaching 37,051 ones. Additionally, Al Suwaidi carried on that the total number of commercial protection complaints reached 4,165 ones in the same period, with the largest share being consumer protection complaints reaching 3,673 ones, followed by commercial fraud complaints amounting to 276 complaints, while the number of service agent complaints reached 216 complaints.
Furthermore, Al Suwaidi explained that SEDD teams of commercial officers work continuously to monitor markets thus to protect people from all forms of commercial fraud and legal violations. Also, he stressed that the inspection campaigns on the markets and establishments in the emirate are ongoing to ensure everyone’s compliance with the applicable controls and provisions and to provide the best services to the consumer, and that the role of the Department is not limited to protecting consumers and investors only, but rather goes beyond that to informing traders of the approved systems and procedures to avoid disputes or complaints against them, and even implementing inspection campaigns to ensure the safety of all economic practices in the emirate’s markets. Moreover, Al Suwaidi pointed out that the rate of complaints during 2024 third quarter reflects the level of consumer response to awareness campaigns and initiatives that are organized continuously and in a variety of ways, through which the Department aims to educate and inform the consumers about the rights and duties during the purchasing process and also to inform them about the available means for submitting complaints, as the Department has recently sought to target the largest possible segment of consumers and merchants for the purpose of educating them.
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