The Sharjah Economic Development Department (SEDD) announced the issuance and renewal of 14,140 business licences, reporting a growth of 20 per cent in the third quarter of 2018 compared to 2017.

The SEDD data for September showed that industrial licences came first in terms of issued and renewed licences with a growth rate of 47 per cent, compared to the same period last year, reported Emirates news agency Wam.

They were followed by professional and commercial licences with a growth rate of 19 per cent each. As for the Eitimad licence, the growth rate reached 22 per cent over the same period last year.

Sultan Abdullah bin Hadda Al Suwaidi, SEDD chairman, said the release of this information is considered one of the important economic indicators on which the department relies on to study the economic situation in Sharjah.

The chairman stressed that the strategic objectives of SEDD are to achieve a comprehensive development plan that promotes the economic development of Sharjah.

 "Such a thing is done through the advancement of services to suit the highest international quality standards in terms of speed of delivery and access to the economic sector by customers and investors in the emirate, as well as those seeking to complete transactions easily,” he said.

In addition to this, the chairman pointed out that the service centres, which are strategic partners of the department, are working to provide a number of SEDD’s procedures and services that is considered one of the main priorities in the conduct of business activities.

Fahad Ahmed Al Khamiri, director of Registration and Licensing Department at SEDD, illustrated that the issued data indicate there is a significant increase in the investment movement in the existing projects, which are indicative of the sustainable growth of Sharjah's economy.

He pointed out that the growth in the number of licences issued in Sharjah was in line with the general growth in GDP recorded by the Emirate of Sharjah recently.

He added that the digital services of the department would simplify the procedures, reduce time, provide services that meet the aspirations of the customers and offer more options to complete transactions.