SEDD issues 2024 “Sustainable Economy” report

The report reviews the most important developments and events witnessed by the economic sectors, as well as the measures and efforts undertaken by the department across all sectors and activities.

The report aims to provide a comprehensive tool for stakeholders in the emirate's economic sectors and introduce them to the most important results achieved, confirming its efforts to support the business environment and enable investment, in line with the aspirations of the wise leadership and meet the expectations of investors and entrepreneurs.

Unique economic model

His Excellency Hamad Ali Abdullah Al Mahmoud, Chairman of SEDD and Member of the Sharjah Executive Council (SEC), affirmed that under the wise vision and noble directives of His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah and with the diligent follow-up of His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of the Executive Council, the emirate has established a unique economic model that combines authenticity and modernity, reflecting a firm commitment to achieving comprehensive and sustainable development based on a balance between economic and societal growth. This vision is translated into practical policies and initiatives implemented according to comprehensive strategic plans aimed at achieving sustainable development, with an economic vision that anticipates the future and aligns with global best practices in the areas of competitiveness and innovation.

Documenting development

Al Mahmoud added that the Department is moving towards its sustainable goals according to well-thought-out methodologies and action plans, anticipating the future in economic and development work, and fulfilling aspirations for the highest level of excellence and leadership, to ensure global competitiveness and raise performance indicators in various fields.

The Department has worked to issue the best and most comprehensive annual reports, with the aim of documenting the Department's economic development achievements. The statistics and data included in the report reflect the extent of the efforts exerted by the Department in advancing its tasks and its commitment to continuous development in accordance with the requirements of its strategic objectives and its aspirations to provide distinguished economic services, with ardent determination and dedication. A renewed, solid approach.

Confidence in business environment

For his part, His Excellency Fahad Ahmed Al Khamiri, Director of SEDD, confirmed that the results and statistics of the SEDD's annual report for 2024 demonstrated the department's success in achieving exceptional growth in its objectives to accelerate various types of economic activities.

A total of 71,318 economic licenses were issued and renewed, representing a growth rate of 7% compared to the previous year. This reflects continued confidence in the business environment and the diversification of targeted sectors.

Supporting development and growth

Al Khamiri said that SEDD constantly seeks to provide numerous facilities that contribute to enhancing the continuity of development in various fields, thus strengthening the strength of the economic and industrial sectors.

Meanwhile, SEDD continues to work on a number of development sectors and axes, not just economic activities, through the continuous development of the business environment, the use of the latest systems and technologies, such as the Smart Investor, the implementation of government accelerators, and the continued adoption of quality systems for business continuity management, which ensures the quality of digital service performance in the business environment.

Monitoring progress

For his part, Abdul Aziz Omar Al Midfa, Director of the Government Communication Department at SEDD, said that the issuance of the annual report is an important annual event that keeps pace with the renaissance seen by the emirate, which requires the availability of data, statistics, and analyses for investors and decision-makers. The report monitors the most important economic indicators in the Emirate of Sharjah with the aim of documenting the emirate’s economic developments and visions. This, in turn, facilitates access to the annual report for various entities and allows them to derive prospects and future economic development in the Emirate of Sharjah. It documents the emirate’s economic progress by monitoring and recording all the developments and changes that take place annually across various activities and sectors, and reflects the efforts made to advance economic development.

Comprehensive report

Al Midfa explained that the annual report devoted sufficient space to tracking the local economy in general and the economic indicators of the Emirate of Sharjah in particular.

In detail, Al Midfa pointed out that the first chapter of the report addressed the topic of investments, issued and renewed business licenses, empowering businesswomen, and an attractive environment for foreign ownership. The second chapter highlighted competitiveness, economic sustainability, and investment attraction. The third chapter addressed markets, oversight, and commercial protection. The fourth and fifth chapters addressed digitalisation and communication. The sixth chapter of the report addressed development, and the seventh chapter addressed human cadres and investment in human capital.