(MENAFN - Emirates News Agency (WAM))

SHARJAH, 6th February, 2018 (WAM) -- The Sharjah Economic Development Department, SEDD, issues and renewed 73,111 licences in the emirate of Sharjah during 2017 a total growth of 2 percent compared to 2016 according to SEDD's Licence Report 2017.

The report revealed that a total of 67,522 licences were renewed in 2017 a growth rate of 4 percent compared to 2016. Also, it revealed that commercial licences came first in terms of the number of licences effective in the emirate of Sharjah in 2017 at a total of 47,705 and a rate of 65 percent. This was followed by professional licences at 31 percent, industrial licences at 3 percent, and Eitimad licences at 1 percent, while industrial licences achieved the highest growth rate at a rate of 27 percent in 2017.

In the context of geographical distribution and horizontal development of economic activities, the main branch hit the highest rates of business licence movement at 48 percent, followed by the Industrial Areas Branch at a rate of 34 percent, and the Central Region Branch at 10 percent. It should be noted that Khorfakkan Branch reached 4 percent followed by Dibba Al Hisn Branch at 1 percent, respectively.

Commenting on the report, Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, clarified that the release of such annual reports is considered one of the most important economic indicators on which the department depends to understand the economic situation of the emirate.

Al Suwaidi added that the department succeeded in focusing on the organisation and activating the economic sector in Sharjah to encourage local and international investments in projects. Such a thing represents one of SEDD's main objectives through the provision of an economic climate conducive to growth and attracting investments.

WAM/Tariq alfaham/Hassan Bashir

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