Sharjah Economic Development Department “SEDD” announced the continuity of economic incentives for the industrial sector. These incentives included providing 50% discount when issuing industrial license for a period of 3 years, as well as restructuring procedures for issuing new licenses. This was done in order to facilitate procedures for investors, and to allow an industrial office to be licensed for a period of one year. This coincides with the activities of hosting The Global Manufacturing and Industrialisation Summit (GMIS) that is organized by the Ministry of Industry and Advanced Technology & the United Nations Industrial Development Organization (UNIDO) at Dubai Exhibition Center during Expo 2020 Dubai from 22-27 November 2021.

Accordingly, SEDD data released that the indicators of economic and industrial development in Sharjah achieved remarkable growth during the first nine months of the current year 2021. These data showed that the total number of industrial licenses issued and renewed in Sharjah reached 1,804, with a growth rate of 14% compared to the same period in 2020.

In details, industrial licenses in the machinery, equipment and minerals sector came first with 1019 licenses, followed by industrial licenses in the chemicals sector with 247 licenses. Then, industrial licenses in the rubber and plastics products sector hit 226 ones, while food and beverage products sector ranked fourth with 151 licenses. After that, industrial licenses in the electrical and electronics sector reached 146 ones, while industrial licenses in the medical and pharmaceutical sectors reached eight licenses.

Commenting on that, HE Sultan Abdullah bin Hadda AL Suwaidi, SEDD Chairman,   said that these data highlight the remarkable rise in the movement of investment in the industrial field, especially in issued licenses, which are indicators for sustainable growth for Sharjah’s economy. Also, HE stressed that SEDD will continue to implement the incentives and decisions approved by the Government of Sharjah to support government and private agencies, business sectors and individuals in all fields and sectors. Likely, HE valued these decisions, which reflect the interest of HH Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, as well as HE Sheikh Sultan bin Muhammad bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, Chairman of the Executive Council. These decisions included all aspects of institutional and societal work without exception to prove that Sharjah has a stimulating and supportive business environment, which attract foreign and direct investments by enhancing confidence between the public and private sectors.

Furthermore, HE explained that the Department is working to simplify services and procedures. This is done to facilitate business registration procedures and issuing licenses as well as to provide greater flexibility for investors and dealers, especially in light of the current circumstances, which allows them to run their businesses within a short period. Also, HE stated that SEDD will keep on assisting investors through coordination with various local and federal government agencies.

From her side, Mariam Nasir Al Suwaidi, Deputy Director of Industrial Affairs Department at SEDD, confirmed that the growth of industrial business licenses during the first nine months of the current year 2021, confirms the strength of the local economy and the attractiveness of the investment environment in Sharjah.

Mariam AL Suwaidi added that SEDD’s initiatives during the last period contributed to promoting the growth of business in the industrial sector and attracting more investments. She pointed out that these figures reflect the business sectors' confidence in the industrial investment opportunities available in Sharjah's economy. Likewise, she stressed that the results of the emirate's business, including the issuance and renewal of industrial business licenses, are in line with the general growth in GDP in Sharjah.