Sharjah Economic Development Department has announced an 11.5 per cent increase in the number of trade licences issued during the first half of 2007.

The figure rose from 20,996 during the first half of 2006 to 23,413 during the corresponding period of 2007.

The new achievement reflects the success in the implementation of Sharjah Government’s drive to reinvigorate Sharjah's position in the UAE as a viable location to conduct business in, as well as reflecting the growing level of confidence investors have in the emirate.

Speaking on the buoyancy of the Sharjah economy, Ali Bin Salem Al Mahmoud, general manager of the Sharjah Economic Development Department, said that this increase shows progress in trade across all of the economic fields of the emirate. Al Mahmoud has been consistently following up the performance in all SEDD departments and divisions - evaluating the department's work strategies and development in all aspects.

The licences were divided into four activities. Commercial licences were the highest issued making 51.9 per cent of the total with a figure of 12,158, followed by professional licenses with a figure of 10,518 at 44.9 per cent, and 729 industrial licences at 3.2 per cent, while vocational licences were the least applied for with only eight applications.-TradeArabia News Service