The Sharjah Economic Development Department (SEDD) has unveiled the results for the year 2023, encompassing crucial developments and events across economic sectors.
The report outlines the Department’s actions and initiatives in various sectors, aiming to provide a comprehensive resource for customers in Sharjah’s economic sectors, showcasing SEDD’s efforts towards achieving a balanced and sustainable economic performance.
Hamad Ali Abdulla Al Mahmoud, Chairman of SEDD, highlighted the Department’s commitment to sustainable goals in line with the challenges and rapid changes, aligning with the vision of H.H. Sheikh Dr. Sultan bin Mohammed Al Qasimi and the continuous pursuit of H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi. The emphasis is on attaining global competitiveness and improving performance indicators in diverse fields.
Al Mahmoud stressed SEDD’s focus on continuous development, reflected in their annual reports, documenting economic achievements. Notable statistics and data in the report illustrate SEDD’s efforts, emphasizing continuous development aligned with strategic objectives and aspirations to deliver exceptional economic services.
According to SEDD data, there was remarkable growth in indicators, with a 2% increase in the total number of business licenses issued and a 4.4% growth in renewed licenses in 2023. The emirate saw a 4.1% growth in the total number of issued and renewed licenses, reaching 66,365 during the same period. The report highlighted qualitative increases in commercial and industrial licenses, “Eitimad” licenses, and e-Commerce, registering rates of 6%, 15%, 21%, and 19% respectively in 2023 compared to 2022. SEDD also focused on regulating economic activities and sectors through policies, standards, and regulations.
Fahad Al Khamiri, Director of Registration and Licensing Department, emphasized the increase in the total number of issued and renewed licenses in all economic sectors during 2023, with key activities including gas stations, money exchange shops, transportation of petroleum products, gold and jewelry sales, clinics, medical centers, and schools. Sharjah’s continuous efforts to provide incentives for development, strengthen economic and industrial sectors, and focus on various development sectors were underscored.
Khalfan Al Herathi, Director of SEDD Branches Department, highlighted the Department’s attention to economic development across all cities and regions. SEDD branches issued 7,738 new licenses in 2023, marking a 2% growth. The detailed breakdown of branches in Khor Fakkan, Kalba, and Dibba Al Hisn illustrated their contributions to regional economic development.
To ensure the enduring results under all circumstances, Al Ali affirmed that studies on customer satisfaction and services indicated positive outcomes. The customer satisfaction rate with SEDD services reached an impressive 96% in the past year, according to WAM.
Moving forward, Noura Yousef Bin Sandal, Deputy Director of the Planning and Economic Studies Department, emphasized the significance of the annual report, aligning with the emirate’s ongoing renaissance. She highlighted the need for data, statistics, and analyses for investors and decision-makers. The report tracks crucial economic indicators in Sharjah, documenting developments and visions to provide valuable insights for various stakeholders. Bin Sandal stressed the report’s role in making it easier for parties to comprehend the annual economic progress in Sharjah, capturing all annual changes across various activities and sectors.
Bin Sandal explained that the annual report dedicated ample space to monitor the local economy overall, focusing on economic indicators specific to Sharjah. The results of 2023 demonstrated positive performance across various sectors. The Department conducted six studies during the year, issued an economic sectors booklet for the agricultural sector, and released booklets for the central and eastern regions.
On another note, Abdulaziz Omar Al Midfa, Deputy Director of the Government Communications Department at SEDD, affirmed the Department’s success in establishing an interactive platform with both internal and external audiences. Al Midfa highlighted SEDD’s role as the official source of news, information, and economic data, promoting its positive image and significant role within the business community to attract investors.
Al Midfa mentioned that SEDD signed three MOUs in 2023, reflecting the Department’s commitment to supporting and improving the economic environment in the emirate. These agreements aim to keep pace with evolving requirements and establish comprehensive partnerships contributing to social and economic stability. SEDD received 78 delegations during 2023, showcasing its dedication to discussing cooperation, exchanging experiences, and enhancing collaboration with various entities.
Furthermore, Al Midfa noted that SEDD actively participated in 45 local and international economic forums. The Department is committed to strengthening collaboration with government and private agencies to bolster the emirate’s position both locally and internationally.