SEDD Announces Economic Growth Indicators of 1Q 2019Source: www.export-egypt.com 4/6/2019, Location: Middle East |
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The Sharjah Economic Development Department, SEDD, has announced that the economic development indicators of the Emirate of Sharjah have shown remarkable growth in the first quarter of 2019.
The number of licences issued during this period reached 1,464 compared to 1,240 in the same quarter of 2018, an increase of 18 percent. Also, the number of renewals increased from 13,514 in 2018 to 14,425 in the first quarter of 2019, at an increment rate of seven percent to reach a total of 15,889 licences in 2019 compared to 14,754 in 2018 with a total growth of eight percent. This shows the interest of the investors in the emirate and highlights the growth of the economy in various sectors. The data released by the department for the first quarter of this year showed that the "Eitimad" licence has surpassed the issued and renewed licences at a growth rate of 41 percent compared to the same period last year 2018, followed by professional licences at a growth rate of nine percent. In terms of industrial licences, the growth rates were eight percent, while commercial licences reached an increase of about six percent in the first quarter of 2019. Commenting on such data, Sultan Abdullah Al Suwaidi, SEDD Chairman, said that the department relies on this information to study the economic situation in Sharjah. He stated that the data indicated that there was a significant increase in investments in the existing projects, which indicated a sustainable growth of Sharjah's economy. These figures also reflected the confidence of the business sectors in the investment opportunities available in the emirate, he added. In addition, he stressed that the e-services provided by SEDD are within its initiatives to simplify procedures and reduce the time and to provide services to meet the expectations of dealers and opportunities as well as widen the options for the completion of transactions. |
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