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Economic development indicators in Sharjah achieve remarkable growth in Q1 2021: SEDD

April 19, 2021
finance & economy

SHARJAH, 18th April, 2021 (WAM) -- The Sharjah Economic Development Department (SEDD) announced that the economic development indicators in Sharjah achieved a remarkable growth in the first quarter of 2021.

The number of issued and renewed licences during this period reached 15,920 compared to 14,267 during the same period in 2020, a rise of 12 percent, it added.

The department’s first-quarter report also confirmed the ongoing growth in the total number of licences, rising by 29 percent compared to the same period in 2019 while revealing that e-commerce licences topped the list, rising by 292 percent compared to the same period last year. Industrial licences came next, with an increase of 19 percent, followed by commercial licences with 13 percent. Professional licences hit an increment of about eight percent in the first quarter of 2021 while the growth of 'Eitimad' domestic licences reached five percent.

Sultan Abdullah bin Hadda Al Suwaidi, Chairman of the SEDD, explained that the licence issuance rate increased to 53 percent during the first quarter of this year while the number of licence renewals rose by eight percent, which is good for the emirate compared to equivalent international figures. He also pointed out that this ongoing rise confirms the strength of the local economy and the attractiveness of the emirate’s investment environment, and highlights the emirate’s strategic location within the region, its advanced infrastructure, and its other strategic economic and social advantages, as well as the available opportunities in various local sectors.

Fahad Al Khamiri, Director of the Registration and Licencing Department at the SEDD, said that the number of licences, especially e-commerce licences, rose significantly by 292 percent during the first quarter of 2021, by 51 licences, adding that industrial licences rose by a rate of 19 percent numbering 623, and commercial licences by 13 percent totalling 10,265.

The number of professional licences increased by eight percent with 4,772 while this figure for 'Eitimad' domestic licences was five percent during the same period with 209, confirming the continuity of business and economic activities in the emirate, as well as its ability to maintain economic balance in major sectors, he added.

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