SEDD’s strategic goal is to achieve a comprehensive development plan that promotes economic development in Sharjah.

Sharjah Economic Development Department (SEDD) released the results of Sharjah’s commercial and economic activities report during 2022, where 64,089 licences were issued and renewed in the past year, with a growth rate of six per cent over 2021.

This report included 7,615 new licences issued and 56,474 renewed.The department reviewed the results and the main developments and events in the economic sectors during 2022.

This was done to provide a comprehensive tool for dealers in the emirate’s economic sectors and to introduce them to the most critical results it has achieved. This highlights SEDD’s efforts to make Sharjah the first economic destination locally and regionally in terms of innovation, confidence and happiness.

Commenting on this, Sultan Abdullah Bin Hadda Al Suwaidi, SEDD Chairman, said that issuing such data is one of the most important economic indicators the department relies on to study the economic situation in the emirate.

He affirmed that SEDD’s strategic goal is to achieve a comprehensive development plan that promotes economic development in Sharjah by developing services to match the highest international quality standards in terms of speed of delivery and access to dealers in the economic sector and investors in the emirate, and seeking to complete transactions efficiently and smoothly.Also, he explained that the results of 2022 revealed a positive performance in many economic indicators and most sectors, despite the unbalanced global economic fluctuations and developments witnessed by the year.

This comes within the wise vision of the government represented by His Highness Dr Sheikh Sultan Bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of Sharjah Executive Council, to provide economic facilities thus enhancing economic work and advance sustainable development in the emirate.

He added, “At SEDD, we work to improve the partnership between the public and private sectors to enable businesses to grow and prosper. We are keen to meet the requirements of investors and protect consumer rights and intellectual property in light of our endeavour to establish a sustainable, innovative, and knowledge-based economy.”Al Suwaidi stressed that the economic strategy adopted by Sharjah Economy, which is in line with the directions of the wise leadership, ensures constantly evolving growth rates.

He illustrated that the work and development is continuous in all cities of the emirate. This is clearly reflected in the expansion of projects, which attracts more visitors, strengthens the economy and increases investments in Sharjah.Fahad Al Khamiri, Director of Registration and Licencing Department, said that the data issued by SEDD indicated that the commercial licences ranked first with 4,476 issued licences during 2022 and a growth of seven per cent.

They were followed by professional licences with 2,422 licences and a growth rate of 27 per cent. With regard to industrial licences, the growth rates reached seven per cent, with a total of 329 licences. On the other hand, “Eitimad” domestic licences hit 214, while the number of issued e-commerce licences reached 174.

This is considered a positive indicator of investors’ concerns towards the emirate and shows the growth of the economy in various sectors, which confirms the stability and sustainability of the economic situation in Sharjah.For renewed licences during the same period, the total commercial licences reached 36,416, at four per cent growth, while the professional licences reached 16,910, at five per cent growth. On the other hand, renewed industrial licences reached 2,401, at seven per cent growth rate, and “Eitimad” domestic licences hit 628, with a growth of ten per cent.

As for e-commerce licences, they amounted to 119, with 78 per cent growth.Al Khamiri said that the data issued by SEDD indicate a noticeable increase in the investment movement in existing projects, which supports sustainable growth in Sharjah’s economy. This reflects the emirate’s strategy to maintain a good pace in growth rates during the next stage, which relies on its geographical location and the immense development witnessed by the service sectors, in addition to incentives.Al Khamiri also pointed out that the service centres, considered among the strategic partners of the department, work in harmony with it to provide procedures and services that are essential for running businesses in the emirate.

He illustrated that this provides a prestigious service environment for the business community in accordance with the highest standards and practices. It is followed by simplified quality services that attract investors and stimulate the economic environment in Sharjah.

He stated that completed electronic transactions reached 243,997 during 2022, with a growth rate of three per cent compared to the previous year.

These were distributed over several service channels provided by the department, such as service centres, smart investors, calligraphers and automatic renewal services.Khalfan Al Herathi, Director of SEDD Branches, said that the branches issued 7,615 new licences during 2022, realising a growth of 11 per cent.