Sharjah’s economic development indicators have achieved “remarkable” growth in the first quarter of the year with a 12 percent increase in the number of issued and renewed licenses during that period compared to the same period last year, announced Sharjah Economic Development Department (SEDD).
The number of issued and renewed licenses reached 15,920 in the first three months of 2021 compared to 14,267 during the same period in 2020, added SEDD.
E-commerce licenses headed the list, increasing by 292 percent, or 51 licenses, compared to the same timespan last year. This was followed by industrial licenses, with an increase of 19 percent, numbering 623 licenses, and commercial licenses which rose by 13 percent, totalling 10,265.
Professional licences achieved an increment of about 8 percent in the first quarter of 2021 with 4,722 licenses while the growth of Eitimad domestic licences reached 5 percent with 209 licenses.
This confirms the continuity of business and economic activities in the emirate, as well as its ability to maintain economic balance in major sectors, said Fahad Al Khamiri, director of the Registration and Licencing Department at the SEDD.
The department’s first-quarter report also confirmed the ongoing growth in the total number of licences, which rose by 29 percent compared to the same period in 2019.
The licence issuance rate increased to 53 percent during the first quarter of this year while the number of licence renewals rose by 8 percent, which is a positive indication for Sharjah when compared to equivalent international figures, said Sultan Abdullah bin Hadda Al Suwaidi, chairman of the SEDD in a statement by the Emirates News Agency (WAM).
Sultan Abdullah bin Hadda Al Suwaidi, chairman of the SEDD
Al Suwaidi explained that the consistent rise confirms the strength of the local economy and the attractiveness of the emirate’s investment environment, and highlights Sharjah’s strategic location within the region, its advanced infrastructure among its other strategic economic and social advantages, in addition to the available opportunities in various local sectors.
By the end of last year, Sharjah had attracted 24 foreign direct investment (FDI) projects worth $220 million, according to a Wavteq study, which created more than 1,100 jobs.
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