Sharjah Economic Development Department Records Growth With 17,722 Licenses In Q1 2024

In the first quarter of 2024, the Sharjah Economic Development Department (SEDD) has reported a notable activity in the issuance and renewal of business licenses, reflecting a steady growth in the emirate's economic landscape. A total of 17,722 licenses were processed through a variety of channels including the SEDD smart application, its website, service centres, and its headquarters and branches. This figure comprises 2,129 new licenses and 15,593 renewals, marking a modest 1% increase compared to the same period in the previous year.

Hamad Ali Abdalla Al Mahmoud, SEDD Chairman, underscored the significance of these figures as key indicators of Sharjah's economic health. He reaffirmed SEDD's dedication to fostering an environment conducive to comprehensive development and economic growth. Al Mahmoud emphasized the department's commitment to providing high-quality services and streamlining transaction processes to bolster investor confidence and support the business community.

Fahad Ahmed Al Khamiri, Director of Registration and Licensing Department at SEDD, revealed that commercial licenses dominated the issuance and renewal activities, followed by professional and industrial licenses. This trend underscores the robust confidence businesses have in Sharjah's economic environment. Additionally, there was a noticeable demand across various sectors such as fast food, used car trading, ready-made clothes, perfumes, and construction materials. This diversity points to a competitive and vibrant economy within the emirate.

SEDD branches played a significant role in these activities, with 11,186 licenses being issued or renewed during this period. The Industrial Branch was particularly active in issuing new licenses, while renewals were predominantly handled by the Industrial Area Branch.

On another front, Salim Ahmed Al Suwaidi, Deputy Director of Commercial Control and Protection Department at SEDD, highlighted the department's efforts in managing transactions and addressing consumer complaints efficiently. The department also undertook inspections to ensure commercial practices' accuracy and safety. The volume of consumer protection complaints received underscores the critical need for consumer awareness and vigilance against illegal practices. Al Suwaidi encouraged consumers to actively engage with SEDD through its various channels to report any concerns or violations promptly.

The data presented by SEDD for Q1 2024 not only illustrates a growing confidence among businesses in Sharjah's economic environment but also showcases the department's proactive approach in facilitating a supportive ecosystem for economic activities. Through continuous improvement in service delivery and an emphasis on consumer protection, SEDD is playing a pivotal role in sustaining Sharjah's economic development trajectory.

With inputs from WAM