Sharjah Update Sharjah business & Investment News from Invest in Sharjah (Sharjah FDI Office)
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The number of renewals increased from 13,514 in 2018 to 14,425 in the first quarter of 2019
The Sharjah Economic Development Department (SEDD) on Saturday announced that it issued 1,464 licences in first quarter of 2019 compared to 1,240 in the same quarter last year, reflecting an increase of 18 per cent.
In a statement, the department said the number of renewals increased from 13,514 in 2018 to 14,425 in the first quarter of 2019, at an increment rate of seven per cent to reach a total of 15,889 licences in 2019 compared to 14,754 in 2018 with a total growth of eight per cent. This shows the interest of the investors in the emirate and highlights the growth of the economy in various sectors.
The data released by the department for the first quarter of this year showed that the “Eitimad” licence has surpassed the issued and renewed licences at a growth rate of 41 per cent compared to the same period last year 2018, followed by professional licences at a growth rate of nine per cent.
In terms of industrial licences, the growth rates were eight per cent, while commercial licences reached an increase of about six per cent in the first quarter of 2019.
Sultan Abdullah Al Suwaidi, Chairman, SEDD, said that the department relies on this information to study the economic situation in Sharjah.
He stated that the data indicated that there was a significant increase in investments in the existing projects, which indicated a sustainable growth of Sharjah’s economy. These figures also reflected the confidence of the business sectors in the investment opportunities available in the emirate, he added.
In addition, he stressed that the e-services provided by SEDD are within its initiatives to simplify procedures and reduce the time and to provide services to meet the expectations of dealers and opportunities as well as widen the options for the completion of transactions.
