New SEDD licences up 12% in Q3

The Sharjah Economic Development Department (SEDD) has released its report for the third quarter of 2019, showing that the total number of licences issued and renewed in the emirate reached 14,731, a growth of 4 per cent.

In terms of licences issued, the report revealed that there was a growth of 12 per cent to 1,184, while renewed licences reached 13,547, an increase of 4 per cent.

Sultan Abdullah bin Hadda Al Suwaidi, chairman of the SEDD, said that this data are one of the important economic indicators, which the department relies to study the economic situation in the emirate.

He added that the strategic objective of the department is to achieve a comprehensive development plan that promotes the economic development of Sharjah. Such a thing is done through the development of services to meet the highest international quality standards in terms of speed of completion and access to dealers in the economic sector and investors in the Emirate and strive to complete transactions easily.

He illustrated that this confirms the continued growth of licences and reflect the high frequency of all sectors in the emirate, which has achieved great development, showing continued economic growth in the current and next year, confirming the expectations of many specialised international financial institutions.

Fahad Al Khamiri, director of the SEDD's registration and licensing department, said that the issued data indicates that there is a noticeable increase in investment in existing projects, which are indicative of sustainable growth of the economy of Sharjah.

- business@khaleejtimes.com