Thursday 24 September 2020

Sharjah posts economic growth; H1 licences up 4pc

SHARJAH, September 7, 2019

Sharjah's economic development indicators have achieved remarkable growth in the first half of 2019, with 31,190 licences issued or renewed, posting a growth rate of four per cent, according to The Sharjah Economic Development Department (SEDD).
The SEDD report revealed that business licences issued during this period hit an increment of 15 per cent with 2,740 while renewed licences reached 28,450, registering a growth of three per cent.
SEDD Chairman Sultan Abdullah bin Hadda Al Suwaidi pointed out that the data indicates a significant increase in investments, which are indicators of sustainable growth in the emirate.
"SEDD works extensively to simplify the services and procedures to facilitate business registrations, issuance of licences and provide greater flexibility for investors and dealers that allows them to establish their business quickly. Besides, the department continues to assist investors by coordinating with the various local and federal government agencies," he noted.
According to the data released, commercial licences in Sharjah came first with 20,009 during the first half of 2019. 
They were followed by 9,722 professional licences and 1,121 Eitimad licences, with growth rates of five, five and 27 percent, respectively. The department also introduced an e-commerce licence of which it issued nine.
Concerning the nationalities of licensees, Emirati nationals lead with 14,511 licences. From the Gulf countries, Saudi Arabia topped the list with 185, followed by Kuwait with 133, and Oman and Bahrain with 65 each. 
Internationally, India came first with 8,789 licences, followed by Bangladesh with 5,422, Pakistan with 4,685, Afghanistan with 1,553, and Syria with 1,494.-TradeArabia News Service 


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