SEDD Showcases Economic Growth And Digital Advancements In 2023

The Sharjah Economic Development Department (SEDD) has recently unveiled its 2023 data results, underscoring significant strides in bolstering the emirate's economic sectors. Under the guidance of Hamad Ali Abdulla Al Mahmoud, the chairman of SEDD, the department has been steadfast in its commitment to fostering balanced and sustainable economic growth while ensuring business continuity. This initiative aligns with the strategic vision of Sheikh Dr. Sultan bin Mohammed Al Qasimi and Sheikh Sultan bin Mohammed bin Sultan Al Qasimi.

The report from SEDD showcases a notable increase in the issuance and renewal of business licenses, reflecting the emirate's thriving business environment. Specifically, there was a 2% rise in newly issued licenses, totaling 7,738, and a 4.4% increase in renewed licenses, amounting to 58,627. Overall, Sharjah saw a 4.1% growth in the total number of licenses, reaching 66,365. Notably, there was an uptick in commercial and industrial licenses, "Eitimad" licenses, and e-commerce activities.

In its regulatory role, SEDD has been instrumental in setting policies and standards that resonate with the current economic climate. The department has also been vigilant in market supervision and protection, processing over 14,000 commercial protection complaints throughout the year.

SEDD has made significant advancements in digitalizing its services. This includes successful integration with the Sharjah Unified Application and launching various projects such as the WhatsApp Business project and portal enhancements. The department recorded a staggering 333,143 digital transactions in 2023.

The industrial sector witnessed a robust 10% growth in the issuance and renewal of industrial licenses. Initiatives such as establishing an industry dialogue council and conducting promotional factory visits were key to this achievement.

Supporting Entrepreneurship and Emiratisation

SEDD has been proactive in nurturing entrepreneurship by issuing "Eitimad" domestic licenses and offering specialized workshops aimed at enhancing entrepreneurs' skills. Furthermore, the department boasts a remarkable 96% Emiratisation rate, underscoring its commitment to attracting national competencies and developing human resource efficiency through comprehensive training programs.

The department's dedication to excellence is also evident from its attainment of the ISO 7070PAS benchmarking management system certification. Customer satisfaction remains high with SEDD's services, reflecting its effectiveness in meeting public needs.

Facilitating Economic Development

SEDD's annual report serves as a crucial resource for investors and decision-makers by providing detailed data and analysis on Sharjah's economic landscape. The department has fostered an interactive platform for engaging with both internal and external audiences and has emerged as a pivotal source of economic news and information.

Through signing agreements and hosting delegations, SEDD has demonstrated its unwavering dedication to enhancing partnerships and cooperation. The collective efforts highlighted in the 2023 data results underscore SEDD's role in promoting economic growth, regulating economic activities, safeguarding consumer rights, and advancing digital services. The department remains focused on sustainable development goals, attracting investments, and supporting entrepreneurship within Sharjah.

With inputs from WAM