Gulf Today, Tuesday, Jul 16, 2024 | Muharram 10, 1445

3,752 licences issued, 30,910 renewed in Sharjah in H1

United Arab Emirates:

The Sharjah Economic Development Department (SEDD) has released its report for the first half of 2024, which showed an increase in the total number of business licences issued and renewed in Sharjah to 34,662, a 3 per cent growth year-on-year (YoY).
Commenting on that, Hamad Ali Abdalla Al Mahmoud, SEDD Chairman, said that SEDD H1 2024 report indicated the ability of Sharjah’s business sectors to achieve sustainable growth leaps, in line with the vision of His Highness Dr Sheikh Sultan Bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah.

He confirmed that the issued data revealed a noticeable increase in investment activity, indicating sustainable growth for the economy of the Emirate, noting that the strategic goal of the Department is to establish a comprehensive development plan that accelerates economic development in Sharjah, by streamlining services to meet the highest international quality standards, benefitting those operating in the economic sector and investors in the emirate.

For his part, Fahad Al Khamiri, Director of Registration and Licensing Department at SEDD, said that the number of licences issued during the first half of this year reached 3,752 licences, while the number of renewed licences reached 30,910.

According to data issued by SEDD in March, the total number of business licenses issued grew by 2% to 7,738 ones whereas renewed licenses achieved a growth of 4.4%, with 58,627 ones during 2023. This contributed to the emirate achieving a growth in the number of issued and renewed licenses, which amounted to 4.1%, with a total of 66,365 thousand issued and renewed licenses during 2023. The report also recorded a qualitative increase in issued commercial and industrial licenses, “Eitimad” licenses, and e-Commerce, with rates reaching 6%, 15%, 21%, and 19%, respectively, in 2023 compared to 2022. Also, SEDD paid great attention to regulating the practice of economic activities and sectors by setting policies, standards and regulations in accordance with the current economic situation.