Sharjah license issuances and renewals reached 64,089 licenses in the past year, indicating a growth rate of 6% compared to the previous year. This is according to the recently released commercial and economic activities report by the Sharjah Economic Development Department (SEDD).
The report comprises 7,615 new licenses issued and 56,474 renewed licenses, and it highlights the main economic developments and events in Sharjah during 2022. SEDD aims to make Sharjah the top economic destination locally and regionally by providing a comprehensive tool for dealers in the emirate’s economic sectors and introducing them to the most significant results it has achieved.
H.E. Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, stated that issuing such data is one of the most critical economic indicators that the department relies on to study the economic situation in the emirate, according to WAM. Despite the unbalanced global economic fluctuations and developments witnessed by the year, the results of 2022 showed a positive performance in many economic indicators and most sectors, according to the report.
The wise vision of the government represented by His Highness Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, and the follow-up of H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of the Sharjah Executive Council, have contributed to the provision of economic facilities, enhancing economic work and advancing sustainable development in the emirate.
Al Suwaidi emphasized that the economic strategy adopted by Sharjah Economy ensures constantly evolving growth rates, and work and development are continuous in all cities of the emirate. The expansion of projects in Sharjah attracts more visitors, strengthens the economy, and increases investments in the emirate.
At SEDD, they strive to improve the partnership between the public and private sectors to enable businesses to grow and prosper while meeting the requirements of investors and protecting consumer rights and intellectual property. Sharjah Economy’s economic strategy, which aligns with the wise leadership’s vision, ensures continuous growth rates, according to Al Suwaidi. Development is ongoing in all cities of the emirate, as evidenced by the expansion of projects attracting more visitors, strengthening the economy, and increasing investments.
According to Fahad Al Khamiri, the Director of the Registration and Licensing Department, the number of commercial licenses issued was the highest with 4,476 in 2022, followed by professional licenses at 2,422 and industrial licenses at 329, while Eitimad domestic licenses reached 214, and e-commerce licenses totaled 174.
This is a positive indicator of investors’ confidence in the emirate and demonstrates growth across various sectors, affirming Sharjah’s economic stability and sustainability. Renewed licenses also experienced growth, with commercial licenses reaching 36,416, professional licenses at 16,910, industrial licenses at 2,401, Eitimad domestic licenses at 628, and e-commerce licenses at 119. Al Khamiri noted that there was a significant increase in investment movement in existing projects, which supports sustainable growth, and that service centers work in harmony with the department to provide essential services for businesses in Sharjah.
Additionally, electronic transactions grew by three percent in 2022, with a total of 243,997 completed transactions distributed across various service channels, such as service centers, smart investors, calligraphers, and automatic renewal services.
Salim Al Suwaidi emphasized that Sharjah Economy’s economic strategy, which is aligned with the direction of the wise leadership, ensures consistent growth rates. The continuous work and development in all cities of the emirate is reflected in the expansion of projects, attracting more visitors, strengthening the economy, and increasing investments in Sharjah.
The department aims to enhance the consumer culture by educating consumers and investors about their rights and duties in an ideal commercial environment with high awareness and impartiality in buying and selling procedures in all economic sectors following the highest international standards and practices.
Regarding commercial control transactions in the emirate during 2022, the department conducted a total of 172,128 visits to various economic establishments in the emirate distributed to all cities and regions. Hamad Al Midfa highlighted the legal role played by SEDD in supporting the economic activities in the emirate by launching several initiatives to enhance its business environment while attracting investors to be a major and important partner in the business sector.
The department adopted innovative solutions to improve its services and develop its legal system to provide the finest services and facilitate them for customers, raise operational efficiency, and use modern technologies to complete transactions. During 2022, the department certified 82,975 contracts, a growth rate of 26% compared to the previous year, and launched several systems, services, and economic indicators, including the internal digital services system, the new version 3.0, the “Labeeh” system platform, the technical support operations efficiency index, the smart reporting system, and the portal.
Ali Ahmed Al Naqbi, Deputy Director of the Information Technology Department, mentioned that 2022 witnessed significant developments in updating and developing the department’s digital services, resulting in intense efforts to link and integrate with the “Digital Sharjah” application, resulting in the availability of the largest number of digital services on the Sharjah digital platform. Digital transactions in SEDD amounted to 97.6 percent, while transactions completed in less than five minutes reached about 61%.
