SEDD Reports Significant 16% Growth With 17,981 Licenses Issued In Third Quarter Of 2024

The Sharjah Economic Development Department (SEDD) reported significant growth in the emirate's economic indicators for the third quarter of 2024. The total number of issued and renewed licenses in Sharjah reached 17,981, marking a 16% increase during this period. This growth reflects the confidence of business sectors in Sharjah's investment opportunities.

Hamad Ali Abdullah Al Mahmoud, Chairman of SEDD, highlighted that the data indicates a noticeable rise in investment activity. He stated, "These figures reflect the confidence of business sectors in the investment opportunities available in Sharjah." The movement of business licenses during this quarter underscores the strength and attractiveness of Sharjah's local economy.

Khalid Al Suwaidi, Deputy Director of Registration and Licensing Department at SEDD, shared that 2,137 new licenses were issued in the third quarter. Renewed licenses increased to 15,844. Commercial licenses led with 1,267 new ones, followed by professional licenses at 605. Industrial licenses numbered 126, while e-commerce licenses were 76. Eitimad licenses were the lowest at 63.

In terms of renewed licenses, commercial ones topped with 9,991 renewals. Professional licenses followed with 4,818 renewals. Industrial license renewals reached 747. Eitimad license renewals stood at 227, and e-commerce license renewals were at 61.

Khalfan Al Herathi, Director of SEDD Branches, noted a significant investment movement across all branches. Major development projects initiated by H.H. Sheikh Dr. Sultan bin Mohammed Al Qasimi have greatly influenced the economic sector. The department’s recent indicators show a notable increase in license issuance rates.

The geographical distribution data revealed that SEDD Industrial Areas Branch issued 975 new licenses. The Central Region branch followed with 200 new licenses. Khor Fakkan branch issued 89 new ones; Kalba branch handled 68; Dibba Al Hisn branch completed 18 new licenses.

Branch Performance

Regarding renewed licenses, SEDD Industrial Areas Branch completed a total of 7,295 renewals. The Central Region branch processed 1,552 renewals; Khor Fakkan branch managed 587; Kalba branch accomplished 574; Dibba Al Hisn branch dealt with 106 renewals.

The overall increase in licensing activities suggests a positive outlook for Sharjah’s commercial and economic recovery. This growth is attributed to strategic initiatives and robust development projects enhancing the emirate's investment landscape.

With inputs from WAM