SEC reviews economic status indicator report for H1 of 2021

Staff Reporter, Gulf Today

Sheikh Sultan Bin Mohammed Bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, and Chairman of the Sharjah Executive Council (SEC), chaired its weekly meeting in Sharjah on Tuesday.

The meeting reviewed the report of the indicators of the economic situation for the first half of 2021.

The meeting was held in the Ruler’s Office, in the presence of Sheikh Abdullah Bin Salem Bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of SEC, and Sheikh Sultan Bin Ahmed Bin Sultan Al Qasimi, Deputy Ruler of Sharjah.

The report included statistics and benchmark comparisons with the first half of the past two years, as well as the most prominent indicators of the performance of the industrial sector and the development of government services.

The meeting also discussed several other topics on its agenda to follow up on the most prominent developments in government work and plans to develop services in various government departments in the emirate.

According to the report, the economic situation witnessed a growth of 29 per cent with the issuance of business licences, reflecting the leading economic environment of the emirate and the positive impact of government incentives launched by the council during the COVID-19 pandemic.

The industrial sector has witnessed remarkable growth with the issuance and renewal of business licences, and an increase in direct cash flows in various industrial activities. The development and tourism projects in the emirate also had a significant impact on economic growth in all cities and regions.

As for the indicators of national projects, the activities of electronic trading, home accreditation licences and national business licences have witnessed a growth in the new version, which reflects the competitiveness of the domestic market and the development of electronic government services provided by the department.

The council thanked the Sharjah Economic Development Department (SEDD) for its efforts in developing services and supporting the economic sector.

The council reviewed the annual report of the Sharjah Directorate of Public Works for the year 2020, and the report included the most prominent achievements of the department.

According to the report, the overall achievement rate rose to 99 per cent in the indicators set, such as the percentage of projects that are delivered on time, buildings that use environmentally friendly materials, the use of energy-saving devices, the operational maintenance efficiency, and the satisfaction of partners.

The directorate’s completed projects reached 292, including the governmental, educational, cultural, sports, infrastructure buildings and others, in addition to the completion of 315 service projects for individuals.

The report also included the directorate’s smart services, electronic transactions, and the development of work mechanisms and human cadres through accreditation certificates, courses and development programmes.

The council commended the efforts of the Sharjah Directorate of Public Works in developing its work and raising completion rates in all administrative and technical aspects.

Meanwhile, Sharjah Publishing City Free Zone (SPC Free Zone) has announced the launch variety of new competitive, flexible, and comprehensive business set up packages to ignite the entrepreneurial spirit of regional and global investors and support the growth of the publishing and education sectors and allied businesses.

Targeting emerging and established entrepreneurs looking to embark on their business journey or expand within the integrated ecosystem of the SPC Free Zone, the new affordable ‘Summer Entrepreneur Packages’ offer a broad range of inclusive and convenient business support options and can be availed until September 5.

The Dhs 6500 package allows entrepreneurs to combine any two activities – service, commercial or e-commerce – under a one-year business license. Under Package 1, a single shareholder – with the option to upgrade available, will receive a stamped license, Memorandum of Association (MoA) document, and lease agreement. No visa will be granted.

Package 2 or the Dhs 9500 package will offer one visa, in addition to all the above benefits, and enables entrepreneurs to save up to AED 5000.

The all-inclusive Dhs 17,500 business set up package offers entrepreneurs a one-year business license with a visa valid for three years. In addition to all the benefits and services offered in Packages 1 and 2, investors opting for Package 3 are also assured Emirates ID, medical fitness tests, e-channel portal access for the Federal Authority for Identity and Citizenship system, and establishment card.

Announcing the launch of the new business packages, Salim Omar Salim, Director of SPC Free Zone, said: “Sharjah’s business-friendly environment is strengthening the emirate’s status as a successful business incubator and an entrepreneur-friendly destination. World Entrepreneurs’ Day is an opportune moment to highlight SPC Free Zone’s leading efforts in expanding its outreach to aspiring global entrepreneurs by offering convenient and innovative investor support solutions to facilitate their growth and expansion across various economic sectors. We are also committed to building strong partnerships with all stakeholders to ensure the sustainability and success of their projects.”